IN BRIEF: Resolute Mining receives final cash from Ravenswood disposal

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Resolute Mining Ltd - Perth, Australia-based gold miner in West Africa, including Maili, Senegal and Ivory Coast - Receives full repayment of the vendor financing promissory note issued in relation to its sale in 2020 of the Ravenswood gold mine in Queensland, Australia. The new owner of the mine, Ravenswood Gold Pty Ltd, will pay Resolute A$77 million, about $54 million, representing full repayment of the principal and accrued interest of the note. Resolute in 2024 had received repayment of a A$50 million gold price contingent promissory note from the sale. Chief Executive Chris Eger says the final repayment strengthens the company’s cash position and provides financial flexibility as it focuses on its West Africa portfolio.

Current stock price: 51.95 pence, up 1.1% in London on Thursday

12-month change: up 77%

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