Friday, April 04, 2014 10:52:59 AM
1 April 2014 01 RESOLUTE EXTENDS DATE TO COMPLETE NOBLE
DEED OF COMPANY ARRANGEMENT
Resolute Mining Limited (ASX: RSG, “Resolute” or the “Company”) is pleased to announce that the Company is making good progress towards satisfaction of all conditions precedent and completion of the Deed of Company Arrangement (“DOCA”) regarding Noble Mineral Resources Limited (ASX: NMG, “Noble”).
Approval of the Scheme of Arrangement by the creditors and employees of Noble’s effected Ghanaian subsidiaries has been achieved and is now subject to the approval of the High Court of Ghana.
In addition, work towards obtaining Ghanaian ministerial consent to the change of control of the Bibiani mining licence to Resolute is well advanced.
To facilitate completion of the DOCA, Resolute and the Deed Administrators, in accordance with the provisions of the DOCA, have agreed to extend the date for satisfaction of the outstanding conditions precedent until 30 April 2014.
Implementation of the DOCA will then see the Resolute group become the 100% owner and operator of the Bibiani gold project in Ghana.
Resolute Chief Executive Officer Peter Sullivan said, “Resolute is pleased with the excellent progress being made with respect to completion of the DOCA. Once the DOCA is implemented we will advance our work on a feasibility study to recommence production from an underground operation.”
PETER SULLIVAN
Chief Executive Officer
About Resolute: Resolute is an unhedged gold miner with two operating mines in Africa and Australia. The Company is one of the largest gold producers by volume listed on the ASX. Resolute’s flagship Syama project in Mali is on track for an increase in production to 270,000oz of gold a year following an approved expansion to be undertaken through FY2016. At its Ravenswood mine in Queensland Resolute is investigating a number of opportunities to add value by increasing gold production and lowering operating costs. The Company controls an extensive footprint along the highly prospective Syama Shear and Greenstone Belts in Mali and Cote d’Ivoire. Resolute has also identified a number of highly promising exploration targets at its Ravenswood operations and holds a number of exploration projects in Tanzania surrounding its Golden Pride mine.
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