CAPITAL MARKETS

Resolute adds $100M of BD firepower

Resolute Mining (ASX: RSG) has added US$100 million worth of firepower for its growth ambitions after securing a revolving credit facility from Investec.

 Resolute adds some financial muscle to look beyond Syama.

Resolute adds some financial muscle to look beyond Syama.

Resolute said the facility provided it with "flexible access to low cost funding for new growth initiatives" and that it could "draw on the facility as required for any corporate funding purposes".

While the ongoing Syama underground project development is said to already be fully funded, the company has recently outlined potential expenditure of A$33 million on its Ravenswood project in Queensland this financial year, with the future development of the Bibiani project in Ghana slated to cost an initial US$75 million.

The miner has also indicated it has growth ambitions beyond its own portfolio with investments in various promising junior exploration plays in Africa.

Resolute started the current quarter with A$113 million in cash, bullion and investments.

Resolute's last debt facility was a secured cash advance of US$50 million provided by both Barclays and Investec and repaid in mid-2016.

Resolute CEO John Welborn was Investec's head of specialised lending in Western Australia last decade.

Shares in Resolute were down 0.75% to A$1.32 in late trade, capitalising it at $982 million.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.