Resolute Mining Limited (ASX:RSG) is poised to take control of the Bibiani Gold Project in Ghana. The gold producer says all conditions have now been met to transfer the project from Noble Mineral Resources Limited (ASX:NMG).
Resolute Mining will hold a 90 per cent stake in the project with the remaining 10 per cent interest held by the government of Ghana.
The company plans to move quickly to start drilling the first stage of the feasibility study for an underground operation which is slated for completion over the coming 24 months.
CEO Peter Sullivan says taking ownership of Bibiani is a significant milestone and a step forward in the company’s quest to restart the project.
Resolute Mining reported a net profit of $26.99 million in the first half of the 2014 financial year.
