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RSG - Resolute Mining News Story

31p 2.0  6.9%

Last Trade - 4:35pm

Sector
Basic Materials
Size
Small Cap
Market Cap £330.9m
Enterprise Value £485.4m
Revenue £434.3m
Position in Universe 694th / 1819

BUZZ-Resolute Mining: Citi sees value in Bibiani mine after lease restoration

Thu 15th April, 2021 5:15am
** Citi says despite termination of Resolute Mining's
 RSG.AX  Bibiani mine sale, stakeholders will be relieved that
at least there's scope to realise some value from the mine
    ** RSG said on Wednesday the mining lease for its Bibiani
gold mine in Ghana has been restored after being terminated last
month, but terms of restoration do not recognise the sale of
Bibiani to China's Chifeng Jilong Gold Mining  600988.SS 
 urn:newsml:reuters.com:*:nL4N2M71HP
    ** RSG will also need approval from the Ghanaian govt to
sell any stake in Bibiani to a third party
    ** Citi says value can be realised from the mine development
by RSG or divestment to an 'approved' third party
    ** We don't think RSG needs to diversify geographies or risk
a tight balance sheet (again) to redevelop the mine - Citi
    ** Brokerage expects CY21 guidance of 350-375koz at
US$1200-1275 to be met

 (Reporting by Arundhati Dutta in Bengaluru)
 ((Arundhati.Dutta@thomsonreuters.com;))
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