Sale of Bibiani Gold Mine Completed

RNS Number : 1930J

Resolute Mining Limited

19 August 2021

 

19 August 2021

Resolute Mining Limited

(Resolute or the Company)

Sale of Bibiani Gold Mine Completed

Resolute Mining Limited (Resolute or the Company) (ASX/LSE:RSG) is pleased to confirm the successful completion of the sale of the Bibiani Gold Mine (Bibiani) in Ghana to Asante Gold Corporation (Asante) for total cash consideration of US$90 million (see ASX Announcement dated 5 August 2021).

Resolute has received the initial US$30 million cash payment from Asante with the balance of consideration payable in two equal instalments of US$30 million on or before six and twelve months following completion.

The sale of Bibiani was undertaken as part of Resolute's strategic focus on its core operating assets and to strengthen the balance sheet.  The initial cash receipt of US$30 million will be applied to the voluntary early repayment of debt. No material tax implications are expected following the completion of the transaction.

For further information, contact:

Resolute Stuart Gale, MD & CEO Telephone: [phone] Email: 34TU [e-mail] U34T Web: 34T www.rml.com.au 34T

Berenberg (UK Corporate Broker) Matthew Armitt / Detlir Elezi Telephone: [phone] Tavistock (UK Public Relations) Jos Simson / Oliver Lamb Telephone: [phone] Email: 34T [e-mail] 34T FTI Consulting (Australian media) Cameron Morse / James Tranter Telephone: [phone] Email: 34T [e-mail] 34T

Authorised by Mr Stuart Gale, Managing Director & Chief Executive Officer

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 which forms part of UK law pursuant to the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via a Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

 

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