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Resolute Mining Ltd (ASX:RSG)

Resolute Mining Ltd (ASX:RSG)


Share Price
$ 0.995
Change
0.015 (1.53 %)
Market Cap
$753.72 m
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Resolute Mining Ltd

Resolute Mining Ltd (ASX:RSG) is listed on the Australian Securities Exchange.

EPIC: RSG
Market: ASX:RSG
52-week High/Low: A$1.440 / A$0.945
Sector: General Mining
Market Cap: A$753.72M
Website: www.resolute-ltd.com.au

Resolute Mining Ltd

www.resolute-ltd.com.au

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Big picture - Why invest in Resolute Mining Ltd


Resolute Mining Ltd Snapshot

Resolute is a successful gold miner with more than 25 years of continuous production.

Africa

Syama - Mali, West Africa
Syama is a long-life flagship project with robust economics.

Located in the south of Mali, West Africa, the mine is approximately 30kms from the Côte d’Ivoire border and 300km southeast of the capital Bamako.

Syama benefits from two fully operational parallel sulphide and oxide processing plants with site production capable of more than 250,000oz/pa.

Ore for the 2.1Mtpa sulphide circuit is currently sourced from the Syama open pit stockpiles while the A21 satellite pit supplies oxide ore to the newly constructed 1.3Mtpa oxide circuit.

Resolute’s positive Definitive Feasibility Study completed in June 2016 has extended mine life to at least 2028 and led to immediate development of the Syama UG.

Development of the world class, automated underground mine is on track with mining scheduled to commence in December 2018.

(click here for more information on this project)


Australia

Ravenswood - Queensland, Australia
Ravenswood is generating strong cash flow with development opportunities in a tier one location.

The Ravenswood gold mine is approximately 95km south-west of Townsville and 65km east of Charters Towers in north-east Queensland.

Ore for the Ravenswood operations in FY18 will be sourced primarily from:
Mt Wright underground mine using Resolute’s pioneering sub-level shrinkage with continuous fill mining method.
Nolans East open pit – the first stage of the transition back to a large scale, open pit operations at Ravenswood through the Ravenswood Extension Project (REP).

(click here for more information on this project)


Developments

Ghana
"Bibiani – the pathway to production."

A positive Feasibility Study for Bibiani was completed and lodged with the Government of Ghana in June 2016 (see ASX announcement dated 23 June 2016). The 2016 Study proposed an underground mine that would produce in excess of 100,000 ounces of gold per annum at a Life of Mine All-In Sustaining Cost of US$851/oz. Mine production was anticipated to be 1.2 million tonnes per annum from Long Hole Open Stope underground mining. Processing of the ore was planned to occur at the existing on-site Bibiani processing plant. The Study identified a modest start-up capital requirement of only US$72 million and a short lead time to production of only nine months. The majority of the upfront capital was allocated to the refurbishment of the plant and to the purchase of owner operated mining fleet.

(click here for more information on this project)


Exploration
“Investing in growth opportunities to build shareholder value”

Resolute’s exploration strategy focuses on tenure close to existing operations or strategic joint ventures on ground that has been identified through our regional studies.

  • Brownfields exploration is straightforward, supporting the capital invested in Syama and Ravenswood.
  • Greenfields exploration strategy includes both RSG projects and investments in junior companies with good teams and good landholdings
  • Greenfields discoveries provide the greatest value uplift in all mineral exploration
  • Between 10 and 20% of RSG exploration budget are greenfields and investments
  • Focus on Orogenic Gold deposits in Africa
  • RSG managed greenfields in Cote d’Ivoire and Egypt
  • Presently a portfolio of investments in 5 companies in Mali, DRC, Cote d’Ivoire and Burkina Faso
  • underexplored, highly prospective and undervalued assets and companies

(click here for more information on this project)

 

Last updated 3rd July 2018

Martin Botha
Non-Executive Chairman
BScEng

Mr Martin Botha was appointed Chairman in June 2017 after being appointed to the board in February 2014. Mr Botha is an Engineering Surveyor by training who has 30 years’ experience in banking, with 24 years spent in leadership roles building Standard Bank Plc’s international operations. Mr Botha’s primary responsibilities at Standard Bank included establishing and leading the development of the core global natural resources trading and financing franchises, as well as various geographic strategies, including those in the Russian Commonwealth of Independent States, Turkey and the Middle East. Mr Botha is currently non-executive Chairman of Sberbank CIB (UK) Ltd, a securities broker regulated by the UK Financial Services Authority, and is a non-executive director of Zeta Resources Limited (appointed 2013). Mr Botha graduated with first class honours from the University of Cape Town and is based in London.


John Welborn
Managing Director and Chief Executive Officer
B.Com., FCA, FAIM, MAICD, MAusIMM, SAFin, JP

Mr John Welborn was appointed to the board on 27 February 2015 as a non‐executive director and became the Managing Director and Chief Executive Officer on 1 July 2015. Mr Welborn is a Chartered Accountant with a Bachelor of Commerce degree from the University of Western Australia and is a Fellow of the Institute of Chartered Accountants in Australia, a Fellow of the Australian Institute of Management and is a member of the Australian Institute of Mining and Metallurgy, the Financial Services Institute of Australasia, and the Australian Institute of Company Directors.

Mr Welborn has extensive experience in the resources sector as a senior executive and in corporate management, finance and investment banking. Prior to joining Resolute Mining Limited in 2015 Mr Welborn was the Managing Director of Equatorial Resources Limited and previously the Head of Specialised Lending in Western Australia for Investec Bank (Australia) Ltd. Mr Welborn was a non-executive director of Noble Mineral Resources Limited (March 2013 to December 2013) and Prairie Mining Limited (February 2009 - September 2015) and is currently a non-executive director of Equatorial Resources Limited (appointed 2010) and Kilo Gold Mines (appointed 2017), and is Chairman of Orbital Corporation Limited (appointed 2014).

In September 2017 Mr Welborn was appointed director of the World Gold Council.


Peter Sullivan
Non-Executive Director
B.E., MBA

Mr Peter Sullivan was appointed Managing Director and Chief Executive Officer of the Company in 2001 and retired as Chief Executive Officer on 30 June 2015. Mr Sullivan is an engineer and has been involved in the management and strategic development of resource companies and projects for over 25 years. Mr Sullivan is also a director of GME Resources Limited (appointed 1996), Zeta Resources Limited (appointed 2013), Pan Pacific Petroleum NL (appointed 2014), Panoramic Resources Limited (appointed 2015) and Bligh Resources Limited (appointed 2017).


Bill Price
Non-Executive Director
B.Com., FCA, MAICD

Mr Bill Price is a non-executive director and was appointed to the board in 2003. Mr Price is a Fellow of Chartered Accountants Australia and New Zealand with over 35 years of experience in the accounting profession. Mr Price has extensive taxation and accounting experience in the corporate and mining sector. In addition to his professional qualifications, Mr Price is a member of the Australian Institute of Company Directors, a registered tax agent and registered company auditor. Mr Price is also a director of Tennis West.


Mark Potts
Non-Executive Director
BSc (Hons)

Mr Mark Potts is a non-executive director and was appointed to the board in 2017. Mr Potts has held senior executive and board positions, in start-ups and large corporate environments, over a 30-year career. Most recently Mr Potts was the worldwide CTO and VP for Corporate strategy at Hewlett Packard, driving technology and business strategy successfully for over 5 years. Prior to Hewlett Packard Mark was the founder of several successful, venture backed start-ups, that have driven technology disruption and business innovation in varied industries. Mr Potts is the Chair of Decimal Software Limited (appointed 2016), a director of VGW (appointed 2017) and board adviser to Advara (appointed 2014) and Adecco Australia (appointed 2010)


Yasmin Broughton
Non-Executive Director
BComm PG Law GAICD

Ms Yasmin Broughton is a non-executive director and was appointed to the board on 29 June 2017. Ms Broughton is a highly credentialed lawyer with significant experience working as both a director and an executive reporting to boards in a diverse range of industries. Ms Broughton has over 13 years’ experience working with ASX listed companies as an officer and has a deep understanding of corporate governance, including compliance with the ASX Listing Rules, and managing complex legal issues. Ms Broughton’s legal and commercial qualifications together with her national mediator credentials, define her fact based and solution orientated approach to corporate management. Ms Broughton is also a non-executive director of the Insurance Commission of Western Australia (appointed 2015), Edge Employment Solutions Inc (appointed 2012) and CyberGym Global Limited (appointed 2017).


Amber Stanton
General Counsel / Company Secretary
LL.B.

Ms Amber Stanton is a corporate lawyer and was appointed as General Counsel / Company Secretary in 2017. Prior to joining Resolute, Ms Stanton was a partner at two international law firms, specialising in mergers and acquisitions, capital markets, energy and resources and general corporate and commercial matters.  Ms Stanton was the WA winner of the 2011 Telstra Business Women's award (Corporate and Private Sector) and is also a director of the Liver Foundation of Western Australia.
 

Management

John Welborn
Managing Director and Chief Executive Officer
B.Com., FCA, FAIM, MAICD, MAusIMM, SAFin, JP

Mr John Welborn was appointed to the board on 27 February 2015 as a non‐executive director and became the Managing Director and Chief Executive Officer on 1 July 2015. Mr Welborn is a Chartered Accountant with a Bachelor of Commerce degree from the University of Western Australia and is a Fellow of the Institute of Chartered Accountants in Australia, a Fellow of the Australian Institute of Management and is a member of the Australian Institute of Mining and Metallurgy, the Financial Services Institute of Australasia, and the Australian Institute of Company Directors.

Mr Welborn has extensive experience in the resources sector as a senior executive and in corporate management, finance and investment banking. Prior to joining Resolute Mining Limited in 2015 Mr Welborn was the Managing Director of Equatorial Resources Limited and previously the Head of Specialised Lending in Western Australia for Investec Bank (Australia) Ltd. Mr Welborn was a non-executive director of Noble Mineral Resources Limited (March 2013 to December 2013) and Prairie Mining Limited (February 2009 - September 2015) and is currently a non-executive director of Equatorial Resources Limited (appointed 2010) and Kilo Gold Mines (appointed 2017), and is Chairman of Orbital Corporation Limited (appointed 2014).

In September 2017 Mr Welborn was appointed director of the World Gold Council.


Lee-Anne de Bruin
Chief Financial Officer
B.Comm, BAcc (Hons), CA

Ms Lee-Anne de Bruin joined Resolute as Chief Financial Officer (CFO) in 2017 and is responsible for the entire accounting, financial, taxation, treasury and technology functions of the Company. Ms de Bruin has over 15 years of financial, operational and strategic management experience across multiple industry sectors, including ten years in the mining industry in both Africa and Australia, where she has held both CFO and Managing Director positions. Ms de Bruin has lead teams at some of the world’s most prominent mining organizations with notable positions including Regional CFO Newmont Asia Pacific, Head of Project Functions BHP Iron Ore and Managing Director Kimberley Diamond Company.


Peter Beilby
Chief Operating Officer
B.Sc. (Mining Engineering)

Mr Peter Beilby joined Resolute as Chief Operating Officer (COO) in 2010 and is responsible for the operations and production of the Company’s gold mines.  A qualified mining engineer with over 25 years of operational and project experience in gold, base metals and mineral sands, Mr Beilby is a highly regarded COO in the industry. Mr Beilby has a strong background in operations management of open cut and underground gold mining as well as greenfields and brownfields development in both fields. Prior to joining Resolute, Mr Beilby was General Manager Murray Basin at Iluka Resources Limited.


David Kelly
General Manager – Corporate Strategy
B.Sc. (Hons.)

Mr David Kelly joined Resolute in 2016 as General Manager – Corporate Strategy and is responsible for corporate strategy, business development and investor relations. An experienced geologist and Company Director, Mr Kelly has served in various senior executive roles in the resources sector for the last 30 years including as an investment banker and corporate advisor. Currently a non-executive director of ASX listed Predictive Discovery Limited, Mr Kelly has previously served as a director of Ridge Resources Limited, Renaissance Minerals Limited and Pacific Ore Limited.


Bruce Mowat
General Manager – Exploration
BSc (Geology)

Mr Bruce Mowat joined Resolute in 2011 and is currently General Manager - Exploration, responsible for the Company’s exploration and development programs in Australia, Africa and other jurisdictions. Mr Mowat has spent 30 years exploring for and finding gold and base metal deposits in Australia, PNG, Indonesia and West Africa and has held senior positions in a number of companies. Prior to joining Resolute Mr Mowat was Chief Geologist for Straits Resources.

 

Last updated 3rd July 2018

REGISTERED OFFICE AND BUSINESS ADDRESS

Level 2, Australia Place
​15-17 William Street
Perth, Western Australia 6000

Postal

PO Box 7232 Cloisters Square
Perth, Western Australia 6850

Telephone: + 61 8 9261 6100
Facsimile: + 61 8 9322 7597
E-mail: [email protected]

ABN 39 097 088 689

DIRECTORS

Non- Executive Chairman
Mr Martin Botha

Managing Director & CEO
Mr John Welborn

Non-Executive Directors
Ms Yasmin Broughton
Mr Mark Potts
Mr Bill Price
Mr Peter Sullivan

General Counsel & Company Secretary
Ms Amber Stanton


REGISTERED OFFICE AND BUSINESS ADDRESS

Resolute Mining Limited
Level 2, Australia Place
​15-17 William Street
Perth, Western Australia 6000

Postal
PO Box 7232 Cloisters Square
Perth, Western Australia 6850

Telephone: + 61 8 9261 6100
Facsimile: + 61 8 9322 7597
E-mail: [email protected]
ABN 39 097 088 689


WEBSITE

Resolute maintains a website where all major announcements to the ASX
are available.
www.rml.com.au


SHARE REGISTRY

Computershare Investor Services Pty Limited
Level 11, 172 St Georges Terrace
Perth WA 6000, Australia

Postal
GPO Box 2975
Melbourne VIC 3001, Australia

Telephone: 1300 850 505 (within Australia)
Telephone: +61 3 9415 4000 (outside Australia)
Facsimile: + 61 3 9473 2500
Email: www.investorcentre.com/contact
Web: www.computershare.com


HOME EXCHANGE

Australian Securities Exchange Limited
Level 40, Central Park
152-158 St George's Terrace, Perth WA 6000
Perth, Western Australia 6000
Quoted on the official lists of the Australian Securities Exchange
ASX Ordinary Share Code: RSG


SECURITIES ON ISSUE (24/11/2017)

Ordinary Shares: 741,477,595​​
Performance Rights: 753,008,066​


BANKERS

Barclays Bank Plc
Level 42, 225 George Street
Sydney, New South Wales 2000

Investec Bank Plc
The Chifley Tower
Level 23, 2 Chifley Square
Sydney, New South Wales 2000

Citibank Limited
Citigroup Centre
Level 23, 2 Park Street
Sydney, New South Wales 2000


AUDITORS

Ernst & Young
Ernst & Young Building
11 Mounts Bay Rd
Perth, Western Australia 6000

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