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Resolute Mining Ltd - gold miner with assets in Africa - Sale of Bibiani Gold Mine in Ghana to Chifeng Jilong Gold Mining Co Ltd for USD105 million has been cancelled by the buyer. Chifong scrapped the deal on the grounds that the mining lease has been revoked, terminated or matierially impacted, and demanded that Resolute refund the USD5 million deposit. Resolute says the lease had been terminated by the Ghanain government in March before being restored this month. Resolute will continue to consider all options for the development or sale of Bibiani.
Current stock price: 28.70 pence, down 5.8% on Monday
Year-to-date change: down 39%
By Ivan Edwards; ivanedwards@alliancenews.com
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