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Resolute Mining Limited

Publié le 28 janvier 2016

December Quarterly

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Mots clés associés :   Mali |

December Quarterly

Microsoft Word - 2015 - (4) December Quarterly


Quarterly Activities Report


FOR THE QUARTER TO 31 DECEMBER 2015 01

Cash and Bullion balance increases to A$75M

Balance Sheet strengthened with accelerated debt repayments FY2016 Guidance maintained at 315,000ozs at cash cost of A$990/oz

Operations


  • Solid performance in the December quarter has allowed for accelerated debt reduction to strengthen the Company's balance sheet.

  • Major refurbishment of the Syama Roaster and improvements to the Syama Crushing circuit completed during the quarter.

  • Total Quarterly gold production of 73,111oz achieved at a cash cost of A$968/oz (US$692/oz).

  • Gold production at Syama in Mali generated 45,462oz of gold at a cash cost of A$969/oz (US$691/oz): o Sulphide circuit production of 25,092oz of gold at a cash cost of A$1,006/oz (US$727/oz); and o Oxide circuit production of 20,370oz of gold at a cash cost of A$923/oz (US$664/oz).

  • Gold production at Ravenswood in Australia generated 27,649oz at a cash cost of A$966/oz (US$695/oz).

  • Continuous improvement and cost reduction program commenced at Syama with results expected to realise significant value in the second half of 2016 calendar year.

  • Production Guidance for FY2016 is maintained at 315,000 ounces at an average cash cost of A$990 (US$725) per ounce and an All‐In‐Sustaining Cost of A$1,280 (US$940) per ounce.


    Financial Performance/Position

  • Cash and bullion on hand at the end of the quarter increased to a total of A$75m (Sept 2015: A$70m).

  • Debt reduction continued with total net debt/cash at quarter end decreasing to A$22m (Sept 2015: A$39m).

  • 52,060oz of gold sold during the quarter at an average price of A$1,552/oz for A$81m (Sept 2015: 106,480oz).

  • 28,788oz of gold bullion on hand at quarter end with a market value of A$42m (Sept 2015: 12,574oz).

  • Gross operational cashflow for the quarter was A$30m (Sept 2015: A$72m). Scheduled crusher and roaster maintenance works at Syama impacted cashflows as expected.

  • US$20m Gold Prepay Loan Facility settled in full with final gold instalment delivery in October 2015.

  • Accelerated Debt Restructure agreed with Lending Syndicate with US$50m Cash Advance Facility to be repaid in full by 30 June 2016 by 10 monthly instalments of US$5m.

Development 02

  • Resolute's primary development focus is the Syama Underground Project which provides the opportunity to extend Syama's mine life beyond 2028. During the quarter the Syama Underground Feasibility Study program was expanded to include the Syama Grid Connection Project as part of a major focus to enhance the outcomes of the Definitive Feasibility Study ("DFS"). Opportunities identified through the Syama Continuous Improvement and Cost Reduction Program will also be incorporated into the expanded DFS. Work commenced during the quarter included:

    • A new program of deep diamond drilling to test likely extensions to the underground resource model;

    • Infill drilling program within the Syama open pit, targeting the upper levels of the underground resource. Early results strongly support the existing geology interpretation with the potential for additional ore located beneath the completed open pit shell;

    • Installation of power and pumping infrastructure to allow early access for accelerated development; and

    • Revised geotechnical assessment and metallurgical test work programs.

      As a result of the expanded and enhanced Feasibility Study Program the Syama Underground DFS is now expected to be completed during the June 2016 Quarter.

  • Strategic options continue to be assessed as part of the Ravenswood Extension Project with a focus on the Nolans East, Buck Reef West and Sarsfield open pit deposits.

  • A strategic review of the Bibiani Gold Project was commenced with an immediate focus on reducing Care and Maintenance costs. These costs are expected to reduce by approximately 40% by the end of the current quarter. The Feasibility Study remains on target for completion during the June 2016 quarter.

Production and Cost Summary 03


Ore Mined

(t)

Ore Milled

(t)

Head Grade

(g/t)

Recov ery

(%)

Plant Availability

(%)

Total Production

(Gold oz)

Cash Cost

A$/oz

*Total Cost

A$/oz

**AISC A$/oz

Syama

Dec Quarter

Sulphide

0

336,713

3.10

74.8

76.2

25,092

1,006

1,222

Oxide

259,944

300,478

2.33

90.5

90.4

20,370

923

1,603

Total

259,944

637,191

2.74

81.1

83.3

45,462

969

1,145

1,393

Sep Quarter

Sulphide

0

285,247

3.61

78.4

57.6

25,969

951

1,198

Oxide

195,419

269,589

2.94

91.3

91.2

23,298

682

1,205

Total

195,419

554,836

3.29

84.0

74.4

49,267

824

1,015

1,202

Ravenswood

Dec Quarter

369,296

416,433

2.19

94.2

96.5

27,649

966

1,289

1,153

Sep Quarter

381,870

419,480

2.41

94.6

96.2

30,813

905

1,258

1,135

Total

Dec Quarter

629,240

1,053,624

2.52

86.9

84.6

73,111

968

1,199

1,302

Sep Quarter

577,289

974,316

2.91

87.8

81.7

80,080

855

1,109

1,176

Table 1: Production and Cost Summary

*Total Cost includes cash costs, depreciation and amortisation, royalties and in‐country operational support costs.

** All‐In Sustaining Cost has been calculated in accordance with World Gold Council guidelines.


Overview

Managing Director & CEO, Mr. John Welborn commented that the December quarter demonstrated Resolute's commitment to debt reduction and strengthening the balance sheet to enable the Company to capitalize on the strong organic growth opportunities at Syama, Ravenswood, and Bibiani.

"Cash generation from our existing operations at Syama and Ravenswood is allowing the Company to accelerate our debt repayments and prepare for investments in future growth. It is very pleasing to see continued debt reduction in a quarter where we have completed major refurbishment and maintenance work at Syama which involved a planned seven week shutdown of the roaster. Gold production and costs remain consistent with forecast and guidance for the full financial year has been maintained. We ended the quarter with A$75m in cash and an improved net debt balance of A$22m.

A strong balance sheet will allow the Company to leverage the transformational opportunity inherent in our current asset portfolio. We have commenced an important improvement program at Syama and expanded the Syama Underground Feasibility Program with the expectation of delivering an exceptional long term outcome for shareholders. The Ravenswood Extension Project and the Bibiani Feasibility Study are advancing with progress expected in the current quarter."

Quarterly Conference Call 04

Resolute Mining Limited will be hosting a Quarterly Activities Report conference call today, Thursday, 28 January 2016, at 10:30am AEDT. Local dial‐in number: 1800 123 296 and conference ID number is 3773 9996. Further international dial‐in details are included in yesterday's ASX announcement dated 27 January 2016.


For further information contact:

John Welborn Managing Director and CEO

+61 8 9261 6100

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Données et statistiques pour les pays mentionnés : Mali | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Mali | Tous

Resolute Mining Limited

PRODUCTEUR
CODE : RSG.AX
ISIN : AU000000RSG6
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Resolute Mining est une société de production minière d'or basée en Australie.

Resolute Mining détient divers projets d'exploration au Ghana.

Ses principaux projets en production sont GOLDEN PRIDE et RAVENSWOOD - SARSFIELD en Australie et SYAMA au Mali, ses principaux projets en développement sont MT. WRIGHT en Australie et FINKOLO au Mali et ses principaux projets en exploration sont NYAKAFURU en Tanzanie et AKOASE au Ghana.

Resolute Mining est cotée en Australie. Sa capitalisation boursière aujourd'hui est 218,9 millions AU$ (158,0 millions US$, 138,4 millions €).

La valeur de son action a atteint son plus bas niveau récent le 19 décembre 2014 à 0,22 AU$, et son plus haut niveau récent le 23 septembre 2016 à 2,35 AU$.

Resolute Mining possède 736 979 968 actions en circulation.

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Rapports annuels de Resolute Mining Limited
2007 Annual Report
Rapports Financiers de Resolute Mining Limited
02/08/2016Record $213 Million Net Profit
Projets de Resolute Mining Limited
01/07/2016Syama DFS delivers long life mine with strong margins
29/06/2016Syama DFS delivers long life minewith strong margins
Communiqués de Presse de Resolute Mining Limited
31/07/2016Syama Drilling Results confirm major extension
27/07/2016Quarterly Activities Report
06/07/2016FY16 Production and FY17 Guidance
06/07/2016Transforming world class gold assets into an outstanding bus...
24/06/2016Conversion and Redemption of Convertible Notes Completed
23/06/2016Bibiani Feasibility Study Completed
21/06/2016Resolute to Recommence Open Pit Mining at Ravenswood
20/06/2016Secured Debt Fully Repaid
23/05/2016Convertible Notes Redemption Confirmed
22/04/2016Quarterly Activities Report for the period ended 31 March 20...
20/04/2016Quarterly Conference Call
19/04/2016Early Redemption of Convertible Notes
19/04/2016Transforming world class gold assets into an outstanding bus...
10/04/2016Resolute: new management structure to drive transformation
05/04/2016Appendix 3Y – Change of Director’s Interest
30/03/2016Appendix 3Y - JPW
28/01/2016December Quarterly
28/01/2016Quarterly conference call invitation
07/01/2016Appendix 3Y – PRS
25/11/2015Appendix 3Y – JPW
25/11/2015Details of Voting at AGM
28/10/2015Quarterly conference call invitation
26/10/2015Notice of Annual General Meeting
23/10/2015Voluntary Acceleration of Debt Repayments
21/10/2015Appendix 4G
06/10/2015Share Buy-back Program
04/09/2015Convertible Note Interest Payment Record Date Appendix 3A.2
28/08/2015Appendix 3Y – PRS
28/08/2015Appendix 3B 150828
28/08/2015Preliminary Final Report
27/08/2015Reserve and Resource Update 2015
04/08/2015CEO Presentation at Diggers & Dealers
22/07/2015Quarterly conference call invitation
10/07/2015Appendix 3Y – JPW
06/07/2015Appendix 3Y – PRS
01/04/2015Further Significant High Grade Drill Results at Bibiani
20/03/2015Syama Gold Mine to Move to Underground Mining by 2017
27/02/2015Additional Appointment to the Board of Directors
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