Resolute Mining workers. Source: Resolute Mining
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  • Resolute Mining (RSG) slightly increased group gold production to 79,816 ounces over the December 2021 quarter
  • The company says the 5 per cent increase reflects improved performance of the Syama Oxide and Mako operations which produced 15 and 17 per cent more gold, respectively
  • In December alone, all operations recorded their highest production for the year which contributed to 319,271 ounces of gold produced in 2021
  • Cash and bullion was $88.6 million at the end of the quarter with debt of $228.8 million and Resolute’s 2022 guidance is 345,000 ounces of gold at an AISC of $1425 per ounce
  • Company shares are up 5.07 per cent to trade at 36.3 cents

Resolute Mining (RSG) slightly increased gold production over the December 2021 quarter.

The materials stock produced 79,816 ounces of gold in the three-month period ending December 31 2021. This represents a five per cent increase to the September quarter which Resolute attributed to the improved performance of Syama Oxide and Mako which produced 15 and 17 per cent more gold than the prior quarter.

Specifically, the Syama Sulphide operations in Mali produced 30,731 ounces at an all-in sustaining cost (AISC) of $1609 per ounce, while the Oxide operations produced 15,009 per ounce at an AISC of $1568 per ounce.

For the month of December alone, all operations recorded their highest production for the year which contributed to a total of 319,271 ounces of gold produced in 2021, in line with RSG’s guidance.

Additionally, AISC for the year was US$1370 (A$1892) per ounce which was marginally above the cost guidance range of $1290 per ounce to $1365 per ounce.

In terms of sales, Resolute Mining sold 75,636 ounces of gold at an average realised gold price of $1749 per ounce compared to the average spot price of $1796 per ounce. The total gold sold for the quarter marked a 15 per cent decrease on the prior quarter.

Resolute spent $4.4 million on exploration in the December quarter with programs continuing in Mali, Senegal, and Guinea.

Cash and bullion sat at $88.6 million at the end of the quarter with debt totalling $228.8 million.

Resolute’s guidance for 2022 is 345,000 ounces of gold poured at an AISC of $1425 per ounce.

Company shares were up 5.07 per cent to trade at 36.3 cents at 3:39 pm AEDT.

RSG by the numbers
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