Ann: Managing Director & CEO change, page-90

First 90 Last

Share
Profile

Follow
arja

1,942 Posts.

52

22/10/20

01:33

Post #: 48286128
Share

Originally posted by DoctorFouad: ↑

Resolute buys Xstrata's Ravenswood for $58m

January 14, 2004 — 11.00am

Resolute Mining has acquired the old MIM Ravenswood goldmine in north-east Queensland from Xstrata for $US45 million ($57.8 million) and re-established itself as one of Australia's biggest locally controlled gold producers.

The deal will deliver Resolute additional annual production of 200,000 ounces, taking total output to 350,000 ounces, enough to rank Resolute as the third-biggest locally based gold producer, even though all of its current production comes from operations in west Africa.

Resolute ranked as one of Australia's biggest gold producers in the early 1990s but was forced to turn its attention offshore after its local operations were hit by the depletion of reserves and the then low gold price.The London-listed Xstrata inherited Ravenswood in its $2.2 billion takeover of MIM in June last year.

The operation was considered non-core, with Xstrata's main interest in MIM being its coal and copper operations in Queensland.Ravenswood is a relatively high-cost producer. In the June 2003 half-year it generated a profit of $2.5 million from the production of 77,628 ounces. Cash costs have been variable, rising from $376 an ounce in the June 2003 quarter to $534 an ounce in the September 2003 quarter before falling to $343 an ounce in the December 2003 quarter.

Expand

RSG rarely seems to react to gold price movements lately and chartwise it seems to be going nowhere . maybe an unexpected good news announcement will change things

RSG Price at posting: 93.5¢ Sentiment: Hold Disclosure: Not Held
2 Upvote

0 Great analysis

Reply

Top Stories

LEX

Lefroy boosts near-surface gold resource by 13% to 439Koz

Tonight's US CPI data could set the tone for November. What are markets expecting?

OCT

Octava Minerals joins the antimony train with high-grades on the radar at Yallagong, WA

ARV

Smallcap Artemis Res' jumps 23% on six digit gold grade rockchip find at Titan

ARB

Court process clears way for ARB to buy up 4 Wheel Parts business in the US

There are more pages in this discussion • 32 more messages in this thread...

First 90 Last

Add RSG (ASX) to my watchlist

(20min delay)
Last 71.5¢		Change 0.030(4.38%)		Mkt cap ! $1.522B

Open	High	Low	Value	Volume
70.0¢	72.5¢	69.5¢	$8.231M	11.56M

Buyers (Bids)

No.	Vol.	Price($)
2	110815	71.0¢

Sellers (Offers)

Price($)	Vol.	No.
71.5¢	256373	3

View Market Depth

No.	Vol.	Price($)
2	110815	0.710
4	172992	0.705
6	49842	0.700
2	57367	0.695
5	79267	0.690

Price($)	Vol.	No.
0.715	256373	3
0.720	303981	10
0.725	223786	7
0.730	505947	6
0.735	47367	2

Last trade - 16.10pm 10/10/2024 (20 minute delay)

RSG (ASX) Chart

Ann: Managing Director & CEO change, page-90

Lefroy boosts near-surface gold resource by 13% to 439Koz

Tonight's US CPI data could set the tone for November. What are markets expecting?

Octava Minerals joins the antimony train with high-grades on the radar at Yallagong, WA

Smallcap Artemis Res' jumps 23% on six digit gold grade rockchip find at Titan

Court process clears way for ARB to buy up 4 Wheel Parts business in the US

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: Managing Director & CEO change, page-90

Top Stories

Lefroy boosts near-surface gold resource by 13% to 439Koz

Tonight's US CPI data could set the tone for November. What are markets expecting?

Octava Minerals joins the antimony train with high-grades on the radar at Yallagong, WA

Smallcap Artemis Res' jumps 23% on six digit gold grade rockchip find at Titan

Court process clears way for ARB to buy up 4 Wheel Parts business in the US

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News