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RSG - Resolute Mining News Story

30.45p -2.4  -7.2%

Last Trade - 11/05/21

Basic Materials
Small Cap
Market Cap £327.5m
Enterprise Value £479.4m
Revenue £427.0m
Position in Universe 707th / 1828

Resolute Mining Ltd - Bibiani Gold Mine Update

Wed 24th March, 2021 7:04am
RNS Number : 3093T
Resolute Mining Limited
24 March 2021

24 March 2021

Resolute Mining Limited
(Resolute or the Company)


Bibiani Gold Mine Update


Resolute Mining Limited (Resolute or the Company) advises that it has today received a letter dated 23 March 2021 from the Ghanaian Minerals Commission advising that, on the instructions of the Ghanaian Honourable Minister of Lands and Natural Resources (the Minister), the Mining Lease for the Bibiani Gold Mine stands terminated.  The Company has been advised to cease all activities and operations at the mine site.

This action is unexpected and Resolute is seeking clarification from the Minister's office for the rationale for the termination.  As a result of this notice Resolute is currently seeking legal advice on the validity of the notice, its rights of appeal and potential recourse while considering the impact of the notice on the sale agreement with Chifeng Jilong Gold Mining Co. Ltd for the sale of the Bibiani Gold Mine.


Contact Information


  Stuart Gale, Interim CEO

  Telephone: +61 8 9261 6100




Berenberg (UK Corporate Broker)

Matthew Armitt / Detlir Elezi

Telephone: +44 20 3207 7800

Tavistock (UK Public Relations)

Jos Simson / Emily Moss / Annabel de Morgan / Oliver Lamb

Telephone: +44 207 920 3150 / +44 778 855 4035




Authorised by Mr Stuart Gale, Interim CEO

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (MAR). Upon the publication of this announcement via a Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.                                                                                                     

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