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Resolute Mining on track to lift gold production to 500,000 ounces per annum

Resolute Mining Ltd (ASX:RSG) managing director and chief executive John Welborn updates Proactive Investors on the gold major’s increased ore inventory, as well as developments across its African operations.

Resolute has made material increases to its resources and reserves across its three projects in Australia, Ghana and Mali thanks to exploration success.

“We’ve got a global mineral resource of 16.5 million ounces of gold and that includes an ore reserve of 6 million ounces, so it’s a very large gold inventory,” Welborn says.

He continues, “Significantly, the vast majority of those mineral resources and all of those reserves sit underneath processing plants and mills we own and operate. That’s the base that provides the growth engine of Resolute, and those numbers are really the result of very successful investment and exploration activity.”

Resolute has also increased its positions in gold juniors Oklo Resources (ASX:OKU) and Mako Gold (ASX:MKG).

Quick facts: Resolute Mining Limited

Price: 1.195 AUD

ASX:RSG
Market: ASX
Market Cap: $1.08 billion
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