new player buys into redback

  1. 934 Posts.

    Resolute Mining Limited has entered into an agreement with Canadian company
    Golden Star Resources Limited for the sale to Golden Star of Resolute's Obotan Plant
    located in Ghana and 4.5% shareholding in Red Back Mining NL for a total price of
    US$5.5 million.
    The Obotan Plant includes all processing plant and equipment, powerhouse, stores
    inventory and spares located at the Obotan mine site. Total consideration for this is
    US$4.3 million. Resolute retains the mining lease and the rehabilitation obligations
    following removal of the plant from the site.
    The sale of Resolute's 4.5% shareholding in Red Back Mining is fur US$1.24 million
    (approximately A$0.40 per share) and is subject to approval by Red Back Mining.
    Resolute remains committed to its existing projects in Ghana and continues to look for
    other development and operating opportunities in that country.
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