A major discovery in direct neighborhood to Syama sounds good...

A major discovery in direct neighborhood to Syama  sounds good

http://www.mining-journal.com/world/africa/resolute-excited-by-treasure-hunt/

Resolute CEO John Welborn told shareholders at the company’s AGM in Perth this week that if results of two diamond holes drilled into the Nafolo prospect matched the result of the first hole, it would indicate a “major discovery” and “potential game changer”. Nafolo, located right next door to the mainstay Syama deposit and operation, yielded first reported results last month of 19m grading 2.6 grams per tonne gold from 273m, and 18m at 3gpt from 372m – from the same drill hole.

Meanwhile, Welborn again stressed to shareholders that building long-life mines was a key strategy for the company, matching Resolute more with North American gold miners than its ASX peers.

According to Welborn, focusing on projects where long mine lives can be established allows companies to build resilient, efficient operations – rather than having to put an ongoing focus on finding more mine life.
He also said the company continued to hunt for better assets to improve the quality of the Resolute business, and was focused on changes that could be made to the Bibiani feasibility study that would make it a better development. Welborn believes the Bibiani project in Ghana has the potential to be Resolute’s lowest cost operation.

Regarding the recent drop-off in the Resolute share price from what had been a stellar 2016, Welborn pointed to gold price volatility in the wake of various geopolitical events such as Brexit and the US election result.
Shares in Resolute have traded up about 5% in the past week, capitalising the company at $924.91 million (US$692.32 million).