December 15, 2017

Finkolo gold joint venture

The company has entered into a sales and purchase agreement with it joint venture partner Endeavour Mining Corporation to acquire its 40% stake in the project covering the Finkolo and N’Gokoli exploration permits.

The acquisition is subject to the consent of the Minister for Mines in Mali. Resolute Mining chief executive Peter Sullivan said the acquisition added additional, low cost ounces and also gave the company full control of permits, covering more than 80km of the Syama Shear.

“The ownership consolidation strengthens the case for the proposed 70,000 ounces a year oxide circuit at Syama and highlights Resolute’s ability to consider value-adding acquisitions after the transformation of the balance sheet overseen in 2011,” Sullivan said.

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