Gold mining and exploration company Resolute Mining Limited (ASX: RSG) today announced it has received an EPA to recommission the Bibiani underground mine with the potential for 100,000 ounces of gold annually over a 10 year mine life.
Resolute shares opened at $1.33 today after a subdued FY18 production and FY19 guidance report yesterday that showed Resolute had produced within guidance, but has a long way to go if it wants to hit its lofty target of 500,000 ounces per annum by FY22.
Good progress on the Bibiani project could help to give Resolute a boost, with the expansion of its Ravenswood mine and soon-to-commence Ghana project likely to help Resolute to reach its future targets, if all goes well.
Elsewhere in the gold sector Evolution Mining Ltd (ASX: EVN) shares opened today at $3.31 – up 44.5% from its share price of $2.29 at this time last year, while Northern Star Resources Ltd (ASX: NST) shares are at a 52-week high – opening today at $7.30 – up 51.7% from $4.81 at this time last year.
