REG - Resolute Mining Ltd - Resolute appoints new Chief Financial Officer

Resolute MiningAnnouncement

16/12/2019 07:05

RNS Number : 9511W
Resolute Mining Limited
16 December 2019
 


16 December 2019
Resolute Mining Limited
("Resolute" or the "Company")
 
Resolute appoints Stuart Gale as Chief Financial Officer

 

 
Resolute Mining Limited (Resolute or the Company) (ASX/LSE: RSG) is pleased to advise the Company has appointed highly experienced mining executive Stuart Gale as Chief Financial Officer (CFO), effective 20 January 2020.
Mr Gale was most recently Group Manager Corporate Finance for Fortescue Metals Group Limited (FMG). Since joining FMG in 2010, Mr Gale has been responsible for FMG's funding, risk, and treasury functions as well as statutory, management and project accounting, budgeting, forecasting, accounts payable and investor relations programs. During FMG's expansion period, Mr Gale ensured robust systems and processes were developed and implemented in addition to co-ordinating external and internal finance functions.  More recently, the development of FMG's refinancing strategies to result in a low cost, flexible, long dated debt portfolio that supports the company's ongoing growth has been part of Mr Gale's role. Mr Gale has strong global relationships with banks, ratings agencies, shareholders, debt holders and investors that will be highly beneficial to Resolute.
Prior to his career at FMG, Mr Gale held senior executive positions at Wesfarmers including Chief Financial Officer of Wesfarmers Energy Limited and General Manager Group Accounting at Wesfarmers Limited. Mr Gale is a Fellow of the Institute of Chartered Accountants in Australia and a Fellow of Leadership Western Australia.
Resolute's Managing Director & CEO, Mr John Welborn, was pleased Mr Gale was joining the Resolute team: "Stuart Gale is an experienced CFO who joins Resolute with exceptional experience in successful financial leadership and positive transformation in the mining industry. Stuart has managed teams within one of the world's leading mining companies and brings proven financial and commercial experience to complement our Senior Executive Team. Stuart's skills, and his strong relationships with debt and equity capital markets, have proven immensely valuable in his roles at FMG as has his work across complex cost and other efficiency performance programmes. These capabilities are a perfect match for Resolute's ambitions to be an innovative, multi-mine, low-cost African-focused gold miner."
Mr Gale will replace Ms Lee-Anne de Bruin as Resolute's CFO. Ms de Bruin joined Resolute in February 2017 and has been responsible the Company's finance, information technology and human resources functions. Ms de Bruin championed the delivery of a new enterprise resource planning solution for Resolute's finance functions, managed the Company's debt facilities, and was a key driver of initiatives such as the Company's London Stock Exchange listing and the acquisition of Toro Gold Limited. The Board thanks Ms de Bruin for her professional and dedicated contribution over the last three years and wishes her well in her future endeavours.
For further information, contact:



John Welborn

Managing Director & CEO


Jeremy Meynert
General Manager - Business Development & Investor Relations



Contact Information



Resolute
John Welborn, Managing Director & CEO
Jeremy Meynert, General Manager - BD & IR
Telephone: +61 8 9261 6100
Email: contact@rml.com.au
Web: www.rml.com.au
 


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
Email: resolute@tavistock.co.uk






About Resolute
Resolute is a successful, dividend paying gold miner with 30 years of experience as an explorer, developer and operator of gold mines in Australia and Africa which have produced more than eight million ounces of gold.
Resolute's production and cost guidance for the 12 months to 31 December 2019 is 400,000 ounces of gold at an All-In Sustaining Cost of US$1,020 per ounce. 
Resolute owns four gold mines. Its flagship asset is the world class Syama Gold Mine in Mali (Syama) which can produce more than 300,000 ounces of gold per annum from existing processing infrastructure. Resolute is currently commissioning the world's first fully automated underground mine at Syama which will deliver a low cost, large scale operation with a mine life beyond 2032. The Mako Gold Mine in Senegal is a high quality, low cost asset with average annual production of ~140,000 ounces of gold. The Ravenswood Gold Mine in Australia and the Bibiani Gold Mine in Ghana are existing largescale assets which provide Resolute with significant production growth potential. Resolute has a pathway to annual gold production in excess of 500,000 ounces from a Global Mineral Resource base of more than 18 million ounces of gold.
Resolute trades on the Australian Securities Exchange (ASX) and the London Stock Exchange (LSE) under the ticker RSG.
 
Authorised by Mr John Welborn, Managing Director and CEO
 



ASX/LSE: RSG Capital Summary
Fully Paid Ordinary Shares: 903,153,734
Current Share Price:

A$1.15 as at 13 December 2019
Market Capitalisation: A$1.04 billion
FY19 Guidance (to 31 December):
400,000oz @ AISC US$1,020/oz 


Board of Directors
Mr Martin Botha Non-Executive Chairman

Mr John Welborn Managing Director & CEO
Ms Yasmin Broughton Non-Executive Director
Mr Mark Potts Non-Executive Director
Ms Sabina Shugg Non-Executive Director
Mr Peter Sullivan Non-Executive Director


Contact
John Welborn Managing Director & CEO
Jeremy Meynert GM - BD & IR

Level 2, Australia Place | 15-17 William St

Perth, Western Australia 6000

T: +61 8 9261 6100 | F: +61 8 9322 7597

E: contact@rml.com.au



 




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