RSG 3.97% $1.21 resolute mining limited

buyout of minority interest

  1. 22,328 Posts.
    sure is boring on the rsg thread, so watso will alert investors to todays report, where they have bought out the minority (34%) interest of a joint venture partner in the nyakafuru joint venture. the prospect has about 1m oz (indicated and inferred). the cost is us$6m for the 34% stake, which probably works out to a bit less than us$20 per oz.

    obviously a lot of work still needs to be done on the prospect (to turn the resources into proven ounces), and watso is suggesting that this prospect will take a back seat, till after syama is bedded down. and a decission made about finkolo (as well as decission about the a21 free milling ore).

    the company has a resource base (over several prospects), which is worth about 10 BILLION dollars.

    rsg has a market cap of about $600m, and in the past few months has been a good performer, yet only about half a dozen people on hc seem to have any interest in the stock. that might change a bit, once syama is up and running. one would think that it would be impossible for the company to make a loss at syama - but one never really knows
 
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Last trade - 16.10pm 06/12/2019 (20 minute delay) ?
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