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Monday 11 February, 2019

Resolute Mining Ltd

Business as Usual at Ravenswood Gold Mine

RNS Number : 6098P
Resolute Mining Limited
11 February 2019

                   Resolute Mining - 11 February 2019          

Business as Usual at Ravenswood Gold Mine
No material impact from recent extreme weather event


Resolute Mining Limited (Resolute or the Company) advises the recent extreme weather events in Far North Queensland, and the monsoon rainfall experienced in the Townsville and Ravenswood regions, will have no material impact on current production and cost guidance for the Company's Ravenswood Gold Mine.

Operations are running as normal and the unprecedented extreme rainfall has not caused any damage to site infrastructure. Monsoon conditions commenced in late January and resulted in extensive regional flooding over the past two weeks. Water levels caused widespread road closures which restricted site access to the Ravenswood Gold Mine and prevented crew change overs. In addition to transport safety concerns, the Company prioritised the need for staff to be with their families and protect their homes. As a result Ravenswood operated on a partial shut-down basis during the monsoon. Access to site has now been re-established and all critical supply lines are intact with operations back to normal. The estimated impact of the partial shut-down is the delay of several days of gold production which the site team will now attempt to make up during the remainder of the quarter. 

Managing Director and CEO, Mr John Welborn, commended Resolute's team at Ravenswood for the efforts taken to ensure the safety of staff and the local community while also maintaining operations and mitigating the risk of damage to infrastructure:

"The safety and wellbeing of employees, contractors, and their families is Resolute's first operational priority. I greatly appreciate the considerable efforts of staff during this period and particularly the on-site team who worked extra hours and did a remarkable job in managing this 'once-in-a-century' monsoon rain event."  

"While the Ravenswood Gold Mine has survived unscathed, Resolute recognises the widespread devastation caused by flooding in the region. The Company has made a donation to the Australian Red Cross Disaster Relief and Recovery Fund to provide support and assistance in the recovery work required in the Ravenswood region."

For further information, contact:

John Welborn

Managing Director & CEO


Jeremy Meynert

General Manager - Business Development & Investor Relations

E: [email protected] / P: +61 8 9261 6100



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