PRECIOUS METALS

Resolute cuts guidance after weak quarter

Australia and London-listed gold producer Resolute Mining has reduced guidance for 2021 production by about 9% to 315,000-340,000 ounces after a soft June quarter performance.

Syama, Mali

Syama, Mali

Production reduced 10% quarter on quarter to 77,450oz in the June period due to lower oxide grades and power plus mechanical interruptions at Syama in Mali, as well as a cutback at Mako in Senegal.

All-in sustaining costs were US$1319/oz, with the expected cost range for the year now put at $1290-1365/oz.

Gold production for the year was previously forecast to be 350,000-375,000oz at AISC of $1200-1275/oz.

Cash and bullion at the end of the quarter stood at $88.8 million, while total borrowings sat at $308.6 million.

Shares in Resolute were down 7% to A52.5c late in the session in Australia, valuing the company at $584 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.