Last checked at 24 Mar 2021 07:04
24 March 2021
Resolute Mining Limited(Resolute or the Company)
Bibiani Gold Mine Update
`
Resolute Mining Limited (Resolute or the Company) advises that it has today received a letter dated 23 March 2021 from the Ghanaian Minerals Commission advising that, on the instructions of the Ghanaian Honourable Minister of Lands and Natural Resources (the Minister), the Mining Lease for the Bibiani Gold Mine stands terminated. The Company has been advised to cease all activities and operations at the mine site.
This action is unexpected and Resolute is seeking clarification from the Minister's office for the rationale for the termination. As a result of this notice Resolute is currently seeking legal advice on the validity of the notice, its rights of appeal and potential recourse while considering the impact of the notice on the sale agreement with Chifeng Jilong Gold Mining Co. Ltd for the sale of the Bibiani Gold Mine.
Contact Information
Resolute Stuart Gale, Interim CEO Telephone: +61 8 9261 6100 Email: 34TUcontact@rml.com.auU34T Web: 34Twww.rml.com.au34T
| Berenberg (UK Corporate Broker) Matthew Armitt / Detlir Elezi Telephone: +44 20 3207 7800 Tavistock (UK Public Relations) Jos Simson / Emily Moss / Annabel de Morgan / Oliver Lamb Telephone: +44 207 920 3150 / +44 778 855 4035 Email: 34Tresolute@tavistock.co.uk34T |
Authorised by Mr Stuart Gale, Interim CEO
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (MAR). Upon the publication of this announcement via a Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.