Why Resolute Mining Limited (ASX:RSG) can now recommission its Bibiani gold mine

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.

Gold is often seen as a "safe haven" stock for many, but these top 3 ASX Blue Chips are the ones to buy in 2018

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2018."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.