Resolute Mining Sells Ravenswood for $300 Million

  • Jan 15, 2020 AEDT
  • Team Kalkine

Resolute Mining Limited (ASX: RSG) has signed an agreements for the divestment of the Ravenswood Gold Mine in Queensland to a consortium involving Golden Energy and Resources and EMR Capital.

  • The sale offers strategic clarity and is coherent with the company’s goal of being a low-cost multi-mine African-focused gold producer;
  • The deal comprises a $100 million upfront payment with up to $200 million in potential payments contingent on future gold prices, future gold production, and the investment outcomes from the Ravenswood Gold Mine.

At AEST 01:08PM the stock was trading at $1.185 per share, up by 1.282% from its previous close.


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