Resolute Mining Limited gave FY18 Production and FY19 Guidance details

FY18 Production and FY19 Guidance: Resolute Mining Limited (ASX: RSG) in 2018, has achieved revised guidance for the year with the production of 284,127oz of gold at an All-In Sustaining Cost (AISC) of A$1,355/oz (US$1,051/oz) from the Syama Gold Mine (Syama) in Mali and the Ravenswood Gold Mine (Ravenswood) in Queensland, Australia. RSG has received the average gold price of A$1,703/oz (US$1,320/oz) from total FY18 gold sales of 262,381oz. The company’s Cash, bullion and listed investments as at 30 June 2018 is of A$113m (US$84m). The company’s gold in circuit inventory as at 30 June 2018 is of 65,000oz worth A$110m (US$82m). Moreover, RSG has also enhanced the guidance for FY19 and the gold production is projected to be 300,000oz at an AISC of A$1,280/oz (US$960/oz). For FY 19, capital expenditure for growth projects at Syama Underground and Ravenswood Expansion Project is expected to be A$150m (US$112m). The company has set the exploration budget at A$21m (US$16m) for FY 19. The Gold production from Syama in FY19 is expected to be about 230,000oz of which 94,000oz will be generated from oxide operations and 136,000oz from sulphide operations. Additionally, Syama is on track for more than 300,000ozpa of production. Ravenswood is expected to deliver steady state annual production of approximately 115,000ozpa and Bibiani has growth opportunity for production of 100,000ozpa. Syama and Ravenswood is planned to ramp up in FY19. As a result, RSG stock has risen 4.26% in three months as on July 11, 2018  and is trading at a low P/E of 8.66x.


Four Year Growth Plan of RSG (Source: Company Reports)


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