Tag: Ravenswoood

Resolute Mining has launched the first stage of the Ravenswood Expansion Project (REP) at the Ravenswood gold mine, recommissioning a third grinding mill at the site.

Announcing approval for the upgrade today, the company said Stage 1 would cost $6 million and would allow it to generate cash for subsequent development.

It involves processing beneficiated low-grade material stockpiled from previous open-pit mining at Ravenswood to produce about 80,000 ounces (oz) of gold in 2020.

Recommissioning of the third mill has commenced, and the mill is expected to be operational by the end of 2019, allowing the Nolans. . .

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Resolute Mining views its Ravenswood gold operation south west of Townsville as having tier-one potential.

CEO John Welborn has presented at this years Diggers and Dealers in Kalgoorlie and emphasised recent acquisitions in Africa as part of an aggressive expansion push into low-cost mining.

The company is transitioning from underground to a fully realised open cut operation at Ravenswood.

Mr Welborn told iQ Industry Queensland's Robert Dark in this interview, that mining in Ravenswood is transitioning from underground to open. . .

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Resolute Mining has moved to hose down reports of a planned spin-off or sale of the Ravenswood gold operation to focus on its African interests.

But it will be reviewing the asset - saying this is consistent with the company’s ongoing efforts to identify cost savings and revenue enhancements as the Ravenswood Expansion Project develops.

"Resolute has not made any decision in relation to the spin-off or sale of its Ravenswood gold mine in Queensland," it said in a company statement.

"Resolute expects to undertake a strategic review of Ravenswood in the first half of 2019.

"The company. . .

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The Queensland Government has granted Prescribed Project status to the $258 million Ravenswood Expansion Project in a move expected to streamline the approvals process.
The Ravenswood Expansion Project will extend Resolute's local gold operations for a further 13 years to at least 2029, increase average annual production to more than 120,000 ounces, protect 280 local jobs, and create 100 new construction roles.
It is expected to require start-up capital of $134 million for pre-stripping and staged processing plant expansion to 5Mtpa, with an overall cap ex of $258 million staged over six years to 2022.
The. . .

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Resolute Mining has completed the Ravenswood Expansion Project Feasibility Study, defining a $258 million plan to extend mining operations at the North Queensland gold town by recommencing open-pit mining in the Nolans East, Sarsfield, and Buck Reef West pits.
Resolute managing director and chief executive officer John Welborn described the outcome as a tremendous achievement for the company.
“A year ago we were facing the prospect of closing our operations at Ravenswood when the Mt Wright underground
reserves were exhausted," he said.
"We now look forward with confidence to a highly profitable 13-year mine life at Ravenswood as. . .

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Resolute Mining has announced a dividend of 1.7c per share following the adoption of an gold sales-linked dividend policy which includes the opportunity for shareholders to receive dividends in gold.
Resolute owns operations in Africa and Australia including the Ravenswood gold mine near Charters Towers in North Queensland.
Resolute has partnered with The Perth Mint to provide shareholders with the opportunity to receive dividend payments in gold.
Shareholders who hold 5000 or more Resolute shares will be able to elect to be paid their dividend payment in gold via a personal account held with The Perth Mint.
This. . .

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