REG - Resolute Mining Ltd - Mali Update and Second Settlement Payment

Resolute MiningAnnouncement

29/11/2024 07:00

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RNS Number : 1031O  Resolute Mining Limited  29 November 2024

29 November 2024

 

Update on Mali Discussions and Second Settlement Payment

 

Resolute Mining ("Resolute" or the "Company") (ASX/LSE: RSG) announces that it
has made the second settlement payment of approximately US$50 million to the
Government of Mali from existing cash reserves. The remaining payment of
approximately US$30 million is anticipated to be paid by the end of 2024 from
existing liquidity sources.

The settlement payments totaling approximately US$160 million are pursuant to
a memorandum of understanding expressed as a protocol (the "Protocol") that
Resolute executed with the Government of Mali on 18 November 2024. The
Protocol sets the framework for further detailed discussions with the
Government regarding the long-term future of Resolute's operations in Mali.
This includes migration of the Company's assets in Mali to the 2023 Mining
Code alongside maintaining the safety of all Company employees.

As announced previously, the Protocol also provides that all outstanding
claims by the Government against the Company, including those related to tax,
customs levies, maintenance and management of offshore accounts are settled.
Discussions with the Government of Mali are ongoing to clarify points of the
Protocol. Further details around the specifics of the Protocol will be
provided in due course.

Resolute remains focused on securing the long-term future of, and creating
certainty for, the Syama Gold Mine and its expansion plans. The Company also
remains committed to working collaboratively with the Malian Government
together with all its stakeholders.

Operations at Syama continue as normal and have not been impacted.

 

 

Authorised by Andrew Wray, Non-Executive Chairman

 

 

Contact

 

 Resolute                                               Public Relations

 Matthias O'Toole Howes,                                Jos Simson, Tavistock resolute@tavistock.co.uk

                                                      (mailto:resolute@tavistock.co.uk)
 Corporate Development and Investor Relations Manager

                                                      +44 207 920 3150
 Matthias.otoolehowes@resolutemining.com

 (mailto:Matthias.otoolehowes@resolutemining.com)       +44 778 855 4035

 +44 203 3017 620

                                                        Corporate Brokers

                                                        Jennifer Lee, Berenberg

                                                        +44 20 3753 3040

                                                        Tom Rider, BMO Capital Markets

                                                        +44 20 7236 1010

 

Resolute Mining Limited ABN 39 097 088 689

Level 17, 2 The Esplanade, Perth, Western Australia 6000

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