Resolute Mining (ASX:RSG) - Incoming CEO, Terry Holohan
Incoming CEO, Terry Holohan
Source: Resolute Mining
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  • Resolute Mining (RSG) pours 81,770 ounces of gold in the March quarter, up two per cent over the prior quarter, reflecting strong growth across its operations
  • This increase was despite a shutdown of the Syama sulphide circuit facility, however, since then production has improved during the first weeks of this quarter
  • Net debt decreased to $174.7 million with nearly $55 million of debt repayments made
  • On April 29, Chief Operating Officer Terry Holohan will assume the role of CEO, following the resignation of Stuart Gale
  • Shares in Resolute are up 7.81 per cent on the market and are trading at 34.5 cents

Resolute Mining (RSG) has poured 81,770 ounces of gold in the March quarter, up two per cent over the prior quarter, reflecting strong growth across its operations.

This increase was despite the major shutdown of the Syama sulphide circuit in February and March.

Since then, however, production has improved with higher overall plant availability and throughput achieved during the first weeks of this quarter.

The Syama Oxide operation continued improving with an 18 per cent increase in production when compared to the previous quarter.

Further, gold poured was consistent with the December quarter to 30,467 ounces while tonnes milled were down due to the sulphide circuit shutdown.

Operations at Mako were in line with expectations while there was an improvement in the gold grade to 2.20 grams per tonne (g/t).

The recovery rate increased in the quarter, reflecting increased dissolved oxygen levels and a more favourable ore blend.

Looking at finances, net debt decreased to $174.7 million with nearly $55 million of debt repayments made via voluntary repayment of the revolving credit facility and the mandatory amortisation on the term loan.

On April 29, Chief Operating Officer Terry Holohan will assume the role of CEO, following the resignation of Stuart Gale.

Shares in Resolute were up 7.81 per cent on the market and were trading at 34.5 cents at 12:28 pm AEST.

RSG by the numbers
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