The company produces gold from its Syama gold mine in Mali and its Ravenswood gold mine in Queensland.
() managing director and CEO John Welborn has purchased 25,000 more shares in the company last Friday through on-market trades.
The $25,750 purchase increases his overall shareholding in the gold mining company to 4.55 million shares.
Last week Resolute took the opportunity to forward sell another 30,000 ounces of gold at an average price of US$1,337 per ounce.
This increased the company’s total hedge book to 160,000 ounces of gold with about 60% of the hedges in A$ and the balance in $US.
Resolute is still leveraged to plenty of upside in the gold price wit 160,000 ounces representing less than 3% of the company’s current Ore Reserves.
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