Gold Output at Resolute’s African Mines Hit New Record

SEATTLE (Scrap Monster): Australia-based Resolute Mining reported that gold production from its African mines hit new record during the initial quarter of the current year. The country owns three mines in the region-one each in Mali, Senegal and Ghana.

According to company press release, it mined over 2 million tonnes of ore over the March 2020 quarter. It reported record tonnage from its Syama Underground Mine in south of Mali, West Africa, mining roughly 1.2 million tonnes of ore with an average grade of 2.55 grams per tonne of gold, at all-in sustaining costs (AISC) of $1,083per ounce. Meantime, the Mako mine in Senegal produced 42,186 ounces at an AISC of $US694/ounce.

The company reported gold sales of 102,008 ounces at an average realized gold price of $1,407 per ounce. The gold recovered during the quarter was 119,683 ounces, higher by 15% upon comparison with the prior quarter.

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Resolute Mining maintained an asset level guidance of 260,000 ounces at an AISC of US$960/ounce for Syama and 160,000 ounces at an AISC of $US800/ounce for Mako.

John Welborn, CEO and Managing Director noted that the company delivered solid production result and completed the Ravenswood asset sale during the quarter. The results represent a turning point in its business. The milestones achieved during the quarter will be significant in generating value for Resolute, he added.