Resolute Mining Limited Announced That It Added To A$ Gold Hedge Book: A Brief Look

Resolute Mining Limited Announced That It Added To A$ Gold Hedge Book: A Brief Look

Resolute Mining Limited (ASX: RSG) had come forward and made an announcement that it had added to A$ gold hedge book. As per the release dated February 11, 2019, Resolute had stated that it had forward sold 30,000 ounces of gold and the average price with regards to this happens to be A$1,887 per ounce in the scheduled monthly deliveries of 5000 ounces between the month of January 2020 and June 2020. The issued release also stated that the company took advantage of the recent exceptional Australian dollar gold prices so that Resolute’s Australian dollar gold hedge position can be extended into 2020.

Resolute Mining Limited had stated that objective happens to be inclined to secure the price certainty for the portion of revenues from the RSG’s Ravenswood Gold Mine which is situated in Queensland, Australia. The company stated that its total gold hedge book, which also includes today’s new Australian dollar gold hedges, happens to have 172,000 ounces in monthly deliveries out to June 2020.

Resolute Mining Limited had also issued a release which contained information related to the Ravenswood Gold Mine. As per another press release dated February 11, 2019, the company had come forward informed the market participants that recent extreme weather events in the Far North Queensland as well as monsoon rainfall which was witnessed in Townsville as well as Ravenswood regions would not be having material impact on the current production as well as cost guidance for Resolute Mining Limited’s Ravenswood Gold Mine. The issued release had stated that the operations are running as normal. It added that unprecedented extreme rainfall didn’t cause damage to the infrastructure of the site. The release also contained the viewpoints of the company’s top management. The Managing Director and CEO (or Chief Executive Officer) named Mr. John Welborn had appreciated the efforts of the company’s team which is at Ravenswood for the efforts which have been adopted so that safety of staff as well as local community can be ensured. At the same time, they have also maintained operations as well as mitigated the risk of damage to the infrastructure. Mr. John Welborn had stated that safety and the well-being of the employees, contractors as well as their families happen to be the company’s first operational priority.

We would now have a look at how Resolute Mining Limited’s stock is presently performing as well as how it had performed in the past. On February 11, 2019, at the time of writing, the stock of Resolute Mining Limited is trading in green as its price is witnessing a rise of A$0.030 per share or 2.913%. The company’s stock is presently trading at A$1.060 per share. The market capitalization of Resolute Mining Limited happens to be $780.84 million. The company’s stock has delivered the return of 4.04% in the span of previous three months while, in the time frame of previous one month, its stock had given the return of -9.65%.


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