Resolute Mining Ltd - Africa-focused gold miner - Expects to see strong growth from the Syama sulphide operations, with the mine exceeding 260,000 ounces per year by 2026 as the underground sub-level cave performance improves and its Phase I expansion project ramps up. At Mako mine expects to see a profit increase in 2024 and 2025 with production between 130,000 to 140,000 ounces per year at an all-in sustaining cost, reducing to USD1,100 to 1,200 per ounce from approximately USD1,450 per ounce. Looking ahead, says Syama oxide operations have not performed to plan as a result of mining lower grade ores. Overall gold production has been revised down from 350,000oz target to a range of 330,000 to 340,000 ounces for the year. AISC guidance for 2023 remains unchanged at USD1,480 per ounce.
Current stock price: 19.00 pence, up 2.4%
12-month change: multiplied from 6.53 pence
By Sabrina Penty, Alliance News reporter
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Resolute Mining (RSG)