Resolute Mining (ASX:RSG) reports 5% fall in production

Company News

by Melissa Darmawan

Resolute Mining (ASX:RSG) reports a 5 per cent fall quarter-on-quarter ending March this year following expected lower production from their Mako gold mine despite its highest Syama sulphide gold production since 2016.

The company’s average realised gold price lifted by 1 per cent to average $1,729 per ounce compared to the average spot price of $1,800 per ounce. Compared to a year ago, the average realised price is up 22 per cent.

Though their all-in sustaining cost rose 24 per cent quarter on quarter to US$1,239 per ounce which was in line with its 2021 guidance.

The company has reaffirmed its full year guidance for gold poured between 350,000 to 375,000 ounces with their all-in sustaining cost between $1,200 and $1,275 per ounce.

Shares in Resolute Mining (ASX:RSG) are trading 5.4 per cent higher at 49 cents.