Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksResolute Mining Regulatory News (RSG)

Share Price Information for Resolute Mining (RSG)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 22.20
Bid: 21.80
Ask: 22.80
Change: 1.50 (7.21%)
Spread: 1.00 (4.587%)
Open: 21.20
High: 22.60
Low: 21.20
Prev. Close: 20.80
RSG Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Syama Sulphide Circuit Update

25 Oct 2019 07:00

RNS Number : 1394R
Resolute Mining Limited
25 October 2019
 

25 October 2019

Resolute Mining Limited

("Resolute" or the "Company")

 

Syama Sulphide Circuit Update

Roaster repair timeline confirmed - fully operational in 6 weeks' time

Production Guidance for FY19 maintained at 400,000 ounces of gold

`

Resolute Mining Limited (Resolute or the Company) (ASX/LSE: RSG) is pleased to advise that the sulphide roaster at the Company's Syama Gold Mine in Mali (Syama), a key component of the Syama sulphide processing circuit, is expected to be repaired and fully operational in approximately six weeks' time. The roaster was taken offline in early October due to the detection of a crack in the main external shell (see ASX Announcement dated 10 October 2019).

A detailed inspection of the main roaster chamber and structural assessment of the structural shell and related infrastructure has now been completed by Resolute's technical team assisted by Outotec, the original designer of the Syama roaster. Outotec is a globally leading global developer and supplier of mineral processing solutions. The assessment has resulted in a detailed design methodology which identifies the scope and extent of the required repairs. An integrated project schedule has been developed which includes all aspects of the required repairs including design, engineering, manning, procurement, planning, and execution. The repair program is underway at Syama and the schedule forecasts completion of all required repair works in approximately six weeks' time. The roaster is expected to be fully operational in early to mid-December.

The preferred repair methodology is to install a secondary steel shell to the defective area where the crack has occurred (see Figure 1 and Figure 2 below). The repair will require the construction of a platform to access the area and the removal of a limited amount of internal refractory insulation material. The schedule allows for the replacement of this material once external repairs have been completed and for independent QA/QC sign-off prior to a re-heating period and a return to full roaster service.

While the roaster repairs are continuing Resolute is conducting a full structural and operational assessment of the roaster and all associated infrastructure and production handling systems. All planned maintenance work will be advanced where possible. This work will inform the existing plans for the normal biennial roaster shut-down scheduled during 2020 and is expected to enable a reduction to the planned number of days that the roaster will be offline for maintenance next year.

Mining activity at the new Syama Underground Mine is continuing during the roaster repair period. The ramp-up of mining is progressing well with production ore now being trucked to the surface using the Company's fully automated haulage fleet. This is a key commissioning milestone in the development of the world's most advanced underground gold mine. Mined ore tonnages increased to 422,517 tonnes (t) in the September 2019 Quarter from 329,356t in the June 2019 Quarter. In addition, caving is occurring to plan with grade profiles of ore mined reconciling to the mine model. During the roaster repair period, mining activity will allow for the accumulation of ore stockpiles on the run-of-mine (ROM) pad with the expectation that up to 300,000t of ore will be readily available by the time the roaster is fully operational in December. The availability of such a significant ROM pad ore stockpile, in addition to available concentrate stocks, will ensure maximum through put operations are supported during the first quarter of 2020.

Resolute estimates the total cost of the roaster repairs at US$5 million. This amount is expected to be offset by operational cost savings from not operating the roaster during the repair period. The more important impact of the roaster downtime is lost gold production from the sulphide circuit. The Company intends to offset the lost production from the sulphide circuit by processing oxide material through the Syama sulphide circuit carbon in leach (CIL) infrastructure. This plan entails processing historical stockpiled transitional ore mined from the Beta satellite open pit through the sulphide circuit mill and crusher and then bypassing the concentrator and roaster to feed this material directly into the sulphide circuit float tails leach circuit. This will allow additional gold production from the Syama sulphide circuit during the period when the roaster is offline. This additional production is expected to be further augmented by above budget performance from the Syama oxide circuit, the Ravenswood Gold Mine in Queensland, and Resolute's new Mako Gold Mine in Senegal. As a result, Resolute is not making any immediate change to its existing FY19 gold production guidance for the twelve months to 31 December 2019 of 400,000 ounces of gold.

The impact of the roaster repairs will affect unit costs for the Syama sulphide circuit. Any impact on Resolute FY19 cost guidance will be disclosed in the Company's September Quarterly Activities Report which is expected to be released on 31 October 2019.

 

Please see image in the full version of the announcement at www.rml.com.au

Figure 1: Syama Processing Plant highlighting the Sulphide Roaster

 

Please see image in the full version of the announcement at www.rml.com.au

Figure 2: Schematic Diagram of the Syama Sulphide Roaster

 

For further information, contact:

John Welborn

Managing Director & CEO

 

Jeremy Meynert

General Manager - Business Development & Investor Relations

 

Contact Information

Resolute

John Welborn, Managing Director & CEO

Jeremy Meynert, General Manager - BD & IR

Telephone: +61 8 9261 6100

Email: contact@rml.com.au

Web: www.rml.com.au

 

Berenberg (UK Corporate Broker)

Matthew Armitt / Detlir Elezi

Telephone: +44 20 3207 7800

Tavistock (UK Public Relations)

Jos Simson / Charles Vivian / Emily Fenton / Annabel de Morgan

Telephone: +44 207 920 3150 / +44 778 855 4035

Email: resolute@tavistock.co.uk

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.

 

About Resolute

Resolute is a successful, dividend paying gold miner with 30 years of experience as an explorer, developer and operator of gold mines in Australia and Africa which have produced more than eight million ounces of gold.

Resolute's production and cost guidance for the 12 months to 31 December 2019 has been updated to 400,000 ounces of gold at an All-In Sustaining Cost of US$960 per ounce following the acquisition of Toro Gold Limited.

Resolute owns four gold mines. Its flagship asset is the world class Syama Gold Mine in Mali (Syama) which can produce more than 300,000 ounces of gold per annum from existing processing infrastructure. Resolute is currently commissioning the world's first fully automated underground mine at Syama which will deliver a low cost, large scale operation with a mine life beyond 2032. The Mako Gold Mine in Senegal is a high quality, low cost asset with average annual production of ~140,000 ounces of gold. The Ravenswood Gold Mine in Australia and the Bibiani Gold Mine in Ghana are existing largescale assets which provide Resolute with significant production growth potential. Resolute has a pathway to annual gold production in excess of 500,000 ounces from a Global Mineral Resource base of more than 18 million ounces of gold.

Resolute trades on the Australian Securities Exchange (ASX) and the London Stock Exchange (LSE) under the ticker RSG.

 

ASX/LSE: RSG Capital Summary

Fully Paid Ordinary Shares: 903,153,734

Current Share Price:A$1.20 as at 24 October 2019

Market Capitalisation: A$1.08 billion

FY19 Guidance (to 31 December):

400,000oz @ AISC US$960/oz

Board of Directors

Mr Martin Botha Non-Executive ChairmanMr John Welborn Managing Director & CEO

Ms Yasmin Broughton Non-Executive Director

Mr Mark Potts Non-Executive Director

Ms Sabina Shugg Non-Executive Director

Mr Peter Sullivan Non-Executive Director

Contact

John Welborn Managing Director & CEO

Jeremy Meynert GM - BD & IRLevel 2, Australia Place | 15-17 William StPerth, Western Australia 6000T: +61 8 9261 6100 | F: +61 8 9322 7597E: contact@rml.com.au

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCPGGUAUUPBUAA
Date   Source Headline
27th Mar 202412:04 pmRNSCorporate Governance Statement
27th Mar 202412:03 pmRNSAppendix 4G
27th Mar 202411:55 amRNS2023 Annual Report
26th Mar 20247:00 amRNSAGM Advanced Notice
25th Mar 20247:00 amRNSAppendix 3Z Mark Potts
25th Mar 20247:00 amRNSAppendix 3X Adrienne Parker
21st Mar 20247:00 amRNSDirector Changes
8th Mar 20247:00 amRNSOre Reserves and Mineral Resource Statement
29th Feb 20247:00 amRNSAppendix 4E & Preliminary Final Report
31st Jan 20248:01 amRNSDec-23 Quarterly Activity Report and 2024 Guidance
29th Jan 20247:00 amRNSQuarterly Conference Call Details
24th Jan 20247:00 amRNSMaiden Mineral Resource at Tomboronkoto
11th Jan 20248:00 amRNSChange of Company Secretary
30th Nov 20237:00 amRNSChange of Registered Office
31st Oct 20237:00 amRNSSeptember 2023 Quarterly Activities Report
26th Oct 20237:00 amRNSQuarterly Conference Call Details
13th Oct 20237:38 amRNSGroup 3 Year Forecast and Update to 2023 Guidance
5th Sep 20237:00 amRNSChange of Share Registry Address
4th Sep 20237:00 amRNSMineral Resources Increased at Syama North Project
29th Aug 20237:00 amRNSChange of Registered Office
22nd Aug 20237:55 amRNSSummary of Half Year Results
22nd Aug 20237:50 amRNSHalf Yearly Results and Accounts
27th Jul 20237:00 amRNSJune 2023 Quarterly Activities Report
25th Jul 20237:00 amRNSQuarterly Conference Call Details
19th Jun 20237:00 amRNSAppendix 3X - KEITH MARSHALL
19th Jun 20237:00 amRNSDirector appointment
25th May 20238:32 amRNSDetails of Voting at Annual General Meeting
2nd May 20237:00 amRNS2022 Sustainability Report
27th Apr 20237:00 amRNSMarch 2023 Quarterly Activities Report
20th Apr 20239:14 amRNSQuarterly Conference Call Details
18th Apr 20238:20 amRNSAGM Notice of Access
18th Apr 20238:17 amRNSNotice of Annual General Meeting
5th Apr 20237:00 amRNSAGM Advanced Notice
29th Mar 20237:00 amRNSReport on Payments to Governments
29th Mar 20237:00 amRNSAppendix 4G
29th Mar 20237:00 amRNSCorporate Governance Statement
29th Mar 20237:00 amRNS2022 Annual Report
8th Mar 20237:00 amRNSOre Reserves and Mineral Resource Statement
24th Feb 20237:00 amRNSPreliminary Financial Results Presentation
24th Feb 20237:00 amRNS2022 Preliminary Financial Results
24th Feb 20237:00 amRNSAppendix 4E Preliminary Final Report
23rd Feb 20237:00 amRNSPreliminary Results Conference Call Details
6th Feb 20237:00 amRNSMining Indaba Presentation
3rd Feb 20237:00 amRNSAppointment of Chief Financial Officer
31st Jan 20237:00 amRNSDecember 2022 Quarterly Results and CY23 Guidance
27th Jan 20237:00 amRNSQuarterly Conference Call Details
19th Jan 20237:00 amRNSOver Three M Ounce Mineral Resource at Syama North
12th Jan 20237:00 amRNSResolute achieves ISO 14001 45001 certification
28th Dec 20229:20 amRNSNotification of cessation of securities - RSG
28th Dec 20229:15 amRNSApplication for quotation of securities - RSG

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.