Ravenswood is generating strong cash flow with development opportunities in a tier one location.
The Ravenswood gold mine is approximately 95km south-west of Townsville and 65km east of Charters Towers in north-east Queensland.
Ore for the Ravenswood operations in FY17 will be sourced primarily from:
Nolans East represents the start of the transition back to large scale open pit mining. The available open pit resources at Ravenswood constitute a major, and greatly underappreciated, asset of Resolute. The 1.2Moz Ore Reserve and 2.6Moz Mineral Resource are located immediately adjacent to our large operating mill and processing plant which requires only minor re-configuration to return to its former 5Mtpa capacity.
Ravenswood Expansion Project (REP)
REP is examining the potential for a large open pit development. Mining of the Sarsfield and Buck Reef West deposits are expected to follow completion of operations at Nolans East.
Resolute is currently completing a REP Feasibility Study due for completion in the September quarter 2016, which will look to define a project with the following characteristics:
The Ravenswood plant processing capacity will be increased from current 1.5Mtpa to 2.8Mtpa as Resolute begins mining from the Nolans East.
Production Guidance FY17: 96koz
AISC Guidance FY17: A$ 1,344/oz (US$981/oz)
Total Reserves: 1.3Moz
Total Resources: 3.0Moz