RSG 0.78% 63.5¢ resolute mining limited

Good points: - Highest Syama Suphide production since 2016:...

  1. 1,380 Posts.
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    Good points:
    - Highest Syama Suphide production since 2016:
    Resolute Mar 2021 Quarter.png
    - Syama Hybrid Power Station nearing completion with 90% of site power now generated from the new facility.
    - Resolute has satisfied the conditions associated with restoration of the Bibiani Mining Lease and continues to consider all options for the successful development or sale of Bibiani.
    - Resolute has since refunded the $5 million deposit to Chifeng. So all square again.
    - Hedging Forward Sales reduced from 133koz @ US$1,687/oz to 108koz @ US$1,696/oz, offset by an increase in zero cost collars from 40koz to 65koz.
    As an investor I much prefer these zero cost collars than forward sales.

    On the minus side Resolute has had shaken shareholder faith with their failure to handle the Ghanaian Governments expectations. I think this was easily avoidable.
    There was also issue with availability of critical spares for the Syama roaster’s primary fan. This is a numpty mistake. Especially with all the issues they've had recently.

    If your free carried or have a small amount you can risk, is OK. If can put four improving quarters in place from here, can be considered returned from the penalty box.
 
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64.0¢ 65.0¢ 63.0¢ $3.704M 5.798M

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