London Stock Exchange Welcomes Resolute Mining to the Main Market
London Stock Exchange today welcomes Resolute Mining Limited (Resolute), (ASX/LSE: RSG), the mid-tier, Africa-focused gold producer, to trading on the Main Market. The Company’s shares were admitted to the Standard Segment of the Official List of the Financial Conduct Authority, at 8am on Thursday 20 June 2019. The Company will maintain a primary listing on the Australian Securities Exchange.
Resolute is a successful, dividend paying gold miner with more than 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 currently owns three 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. Alongside Syama, Resolute owns the Ravenswood Gold Mine (Ravenswood) in Australia and the Bibiani Gold Mine (Bibiani) in Ghana.
For the 12-month period ending 30 June 2019, Resolute expects to produce 300,000 ounces of gold (in aggregate) from production at Syama and Ravenswood at an All-In Sustaining Cost of US$960/oz. Resolute has a pathway to annual gold production in excess of 500,000 ounces in the medium-term from a Global Mineral Resource base of 16.8 million ounces of gold. Resolute also has a portfolio of strategic investments in African focused gold exploration companies which provides the company with exposure to a pipeline of future development opportunities.
John Welborn, Managing Director & CEO, commented:
“We are delighted to be celebrating Resolute’s London Stock Exchange listing today. This milestone marks the company’s next significant phase of growth and will provide us with a greater platform from which to access a larger global pool of investors. The LSE is home to some of the world’s largest mining companies and we look forward to joining the ranks of the African mid-tier gold producers, alongside a market that has a good understanding of both the gold sector and the African mining environment.
We believe Resolute will strongly appeal to this market as we offer investors access to a dynamic, innovative, dividend paying and responsible gold miner that boasts a strong growth pipeline. Most notably, and uniquely for the sector, we are only a few months away from commercial production at the world’s first, purpose built, fully automated underground gold mine in Mali.
We are dedicated to mining gold and creating value for shareholders and we look forward to our new listing on the LSE.”
Resolute has appointed Berenberg as UK Corporate Broker and Tavistock as UK public relations adviser. Bryan Cave Leighton Paisner LLP (BCLP) has acted as the UK legal adviser and DLA Piper has acted as the Australian legal adviser.