{"id":1159539,"date":"2020-01-13T11:03:04","date_gmt":"2020-01-13T17:03:04","guid":{"rendered":"https:\/\/www.mining.com\/?p=1011120"},"modified":"2020-01-13T11:03:04","modified_gmt":"2020-01-13T17:03:04","slug":"resolute-in-talks-to-sell-ravenswood-gold-mine-to-emr-capital","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1159539","title":{"rendered":"Resolute in talks to sell Ravenswood gold mine to EMR Capital"},"content":{"rendered":"<p>Australia\u2019s Resolute Mining\u00a0(ASX:RSG<a href=\"https:\/\/ir.q4europe.com\/Solutionsstaging\/ResoluteMining\/4030\/newsArticle.aspx?storyid=14570477\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">) confirmed on Monday<\/a> that is in advanced talks with private equity fund EMR Capital Management Ltd over the sale of Ravenswood gold mine, located in Queensland, Australia.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The miner, which has been trying to make the asset <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.mining.com\/resolute-mining-completes-first-phase-of-ravenswood-gold-mines-expansion\/\" >look as attractive as possible<\/a> over <a href=\"https:\/\/www.mining.com\/resolute-given-key-environmental-permit-to-extend-queensland-gold-mine-life\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">the past year<\/a>, said the deal could be worth up to A$300 million ($207 million).<\/p>\n<p>The transaction would see EMR paying A$100 million upfront and up to A$200 million in additional deferred consideration, subject to production milestones and future gold prices.<\/p>\n<p>The two firms signed an exclusivity arrangement, which expires on Wednesday.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>The transaction would see EMR paying A$100 million upfront and up to A$200 million in additional deferred consideration.<\/p>\n<\/blockquote>\n<\/figure>\n<p>EMR is also said to be preparing the <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.afr.com\/street-talk\/emr-capital-mulls-asx-listing-of-copper-assets-20190730-p52c0h\" >sale of a few copper and gold assets<\/a>, which may include Capricorn Copper mine in Queensland and the Golden Grove mine in Western Australia.<\/p>\n<p>The gold miner, which set overall output target for 2020 at 500,000 ounces, said in a <a href=\"https:\/\/ir.q4europe.com\/Solutionsstaging\/ResoluteMining\/4030\/newsArticle.aspx?storyid=14569308\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">production update<\/a> that completion of stage 1 of the Ravenswood Expansion Project, or REP, had increased processing capacity to 5 million mt\/year. The upgrade, it noted, allows a production target for 2020 of 80,000 ounces of gold at an all-in sustaining costs (AISC) of $1,200 per ounce.<\/p>\n<p>Stage two of the expansion would<br \/>\nsee the Perth-based miner\u2019s target production of 200,000 ounces a year for 15<br \/>\nyears from 2022.<\/p>\n<p>Ravenswood, located about 95km southwest of Townsville, is made up of multiple open pits to support large scale, long-term gold production beyond the life of the existing Mt. Wright underground mine.<\/p>\n<p>Resolute Mining churned out last year 384,731 ounces of gold, or 4% less than the  expected 400,000 ounces. AISC reached $1,09 per ounce, compared to a cost guidance of $1,020 per ounce.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Asset could fetch up to A$300 million ($207 million).<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[949,369],"tags":[],"class_list":["post-1159539","post","type-post","status-publish","format-standard","hentry","category-markets","category-miningcom"],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1159539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1159539"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1159539\/revisions"}],"predecessor-version":[{"id":1159608,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1159539\/revisions\/1159608"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1159539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1159539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1159539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}