Resolute Mining Limited On track with commissioning of project 85
On track with commissioning of project 85: Resolute Mining Limited (ASX: RSG) is targeting an overall gold recovery of above 85% for Syama Project 85. As at mid May 2017, the overall project has been 44% complete. The staged commissioning of the project 85 is on track for the end of March 2018. On the other hand, the gold production of 88,622 ounces was achieved at an All-In Sustaining Cost (AISC) of A$1,091 per ounce (US$827 per ounce) in the March quarter. The FY17 year to date gold production is said to be of 259,180 ounces at an AISC of A$1,031 per ounce (US$778 per ounce). There might be some concerns on the group’s profits given the recent pressure in the gold prices and potential from key mine yet to be delivering well.
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