Resolute Mining Limited (ASX: RSG) has made an announcement about its Syama Underground Mine on December 14, 2018 with the help of the press release. As per the press release issued by the company, the sublevel cave ore production has started with respect to the Resolute Mining Limited’s new Syama Underground Mine. The top management of the company stated positive viewpoints for the achievement. In the comments made by the CEO or chief executive officer of the company, Syama would be beneficial for the stakeholders, shareholders as well as for the local communities of Mali when considered from the long-term perspective. He also stated that the deployments which have been made towards technology, infrastructure, exploration, innovation as well as power have managed the transformation to mine from the orebody. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]
As per the management of Resolute Mining Limited, the company aspires to be one of the leading contributors to the responsible as well as sustainable economic growth when it comes to Africa. Not so long ago, the company had made an announcement that they are planning to come up with 40 MW Solar Hybrid Power Plant. The management of the company also stated that this Solar Hybrid Power Plant would help in terms of power costs savings. With the help of Project 85 commissioning, the company would be able to get improved recoveries with respect to high-grade ore which has been obtained from new sublevel cave. When considered together, i.e. by combining the improved recoveries, automation of the mines, as well as a reduction in the power costs, would aid the Syama site in terms of the production. The management of the company stated that by combining the above factors, the site is expected to give 300,000 ounces of the gold on the per annum basis.
Earlier, Resolute Mining Limited has published the presentation with regards to the annual general meeting or AGM. The management of the company had stated in the presentation that it had managed to maintain profitability even during the times of the development phase. The company had generated net profit after tax or NPAT amounting to A$78 million. The company had also delivered robust returns to its shareholders. Not so long ago, Resolute Mining Limited had also published their quarterly activities report which covers the September 2018 quarter. In the quarterly activities report, the positive comments were given for the company’s Syama Underground Mine.
Let us now quickly have a look at how Resolute Mining Limited has been performing today. At the time of writing, the stock price of Resolute Mining Limited has been witnessing the negative momentum and was seen in red. The stock price is trading at A$1.050 per share which implies that the stock has declined A$0.020 per share or 1.869% intra-day.
The market capitalization of Resolute Mining Limited stood at $810.54 million and, as per the Australian Securities Exchange or ASX, the company is having an annual dividend yield of 1.87%. In the past one month, the stock delivered 8.63% return.
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