Was throwing out my old tax documents and came across a Resolute Prospectus dated 27 May 2002. Had a quick scan through it and at the time they had 2 producing gold mines (Golden Pride in Tanzania and Obotan in Ghana) which collectively produced 181,236 ounces at a cash cost of only US$198/oz for the 9 months to 31 March 2002.
Just shows you how much cash costs in gold mining have escalated in only 10 years - Resolute forecasts their cash costs to be circa US$800/oz next year.
Another interesting item was it only cost Resolute US$32 Million to build the Obotan mine in Ghana in 1997 which was a +100,000 oz p.a. gold mine. Compare that to the capital costs of developing similar mines now!!
Cheers,
Baphomet
Was throwing out my old tax documents and came across a Resolute...
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