Resolute dodges coronavirus impact with output lift

Resolute Mining has lifted its quarterly gold production for the March period, which included the last gold pour at the Ravenswood mine in Queensland before it was sold to EMR Capital and Golden Energy and Resources (GEAR).

Resolute produced 110,763 ounces of gold during the March 2020 quarter, which was 5,470 ounces more than production during the previous quarter.

The growth in production was guided by a substantial increase in mined and hauled tonnages from the Syama underground mine in Mali, West Africa.

Resolute mined a record 519,898 tonnes of ore during the period, an increase of 33 per cent over the December quarter, with 186,807 tonnes being mined in March alone.

Gold production from Syama’s sulphide circuit climbed by 54 per cent from the December quarter to 21,430 ounces, thanks to the sulphide mill and roaster returning to operational service.

At Ravenswood, Resolute poured 11,046 attributable ounces and processed 726,735 tonnes of ore during the March quarter period.

Following the sale of Ravenswood to EMR Capital and GEAR, Resolute removed any future production from the Queensland mine and updated its 2020 output guidance of 430,000 ounces at an all-in sustaining cost (AISC) of $US980 ($1631.80) an ounce.

This reflects a maintained guidance for Resolute’s West African assets, Syama and Mako.

“Across our business we remain Resolute,” company managing director and chief executive John Welborn said.

“The challenges presented by COVID-19 (coronavirus disease of 2019) continue to change on a daily basis. We are working closely with our employees, contractors and stakeholders, including our host governments, to safeguard our people and our operations.

“Our collective response to COVID-19, and our performance in the March quarter, has allowed us to maintain our previous production and cost guidance for 2020 for Syama and Mako.”

Resolute also reported a strong performance at the Mako mine, with 42,186 ounces poured in the March quarter.

Stockpiles of over two million tonnes of ore at an average grade of 1.2 grams per tonne were available at Mako for processing.

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