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Resolute Mining Ltd.
Summary
| Project: | Ravenswood | |
|---|---|---|
| Deposit: | Ravenswood Expansion Project | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/21/2016 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Active Mining & Production | |
| Report details: | 21-9-2016: Resolute Mining Ltd. announces a Feasibility Study report for its Ravenswood Expansion Project deposit at the Ravenswood project. Feasibility study results for Ravenswood Expansion Project. Resolute Mining Limited (Resolute or the Company) (ASX | |
| Resources: | (Reserve, P+P): 69.655Mt @ 0.8g/t Au for 1.848Moz Au contained at Ravenswood total | |
| CP/QP: | [Resources]: Richard Bray; Andrew Goode (Internal) | |
| ABSTRACT: | Resolute Mining Limited (Resolute or the Company) (ASX:RSG) is pleased to advise that it has completed the Ravenswood Expansion Project Feasibility Study (REP Study) at its 100% owned Ravenswood Gold Mine (Ravenswood or the Project) in Queensland, Australia. The REP Study defines Resolute’s plans to complete the Mt Wright underground mine and extend mining operations at Ravenswood by recommencing open-pit mining in the Nolans East, Sarsfield, and Buck Reef West Pits. Managing Director and CEO, Mr John Welborn, stated the REP Study was a tremendous achievement for Resolute: “A year ago we were facing the prospect of closing our operations at Ravenswood when the Mt Wright underground reserves were exhausted. We now look forward with confidence to a highly profitable 13-year mine life at Ravenswood as we return to open pit mining at Sarsfield and Buck Reef West. Combined with the 12-year mine life at Syama, Resolute’s gold business now possesses a combination of longevity and scale unrivalled amongst our peer group.” “Innovative solutions and a staged approach to development has resulted in increased annual production and low operating costs which drive exceptionally positive economic outcomes. Importantly, the Project has low up-front capital requirements with total project capital staged over six years. The FY17 capital requirements are already included in the current year guidance and are fully funded from existing cash reserves and operating cash flows.” | |
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