Potential exists for a high margin, long life underground mining operation at the Bibiani Gold Mine which is situated in the western region of Ghana in West Africa. It is bordered by Burkina Faso to the north, Cote d’Ivoire to the west and Togo to the east.
Bibiani is owned by Mensin Gold Bibiani Limited, a wholly owned subsidiary of Resolute. Resolute currently owns 100% of Mensin Gold Bibiani Limited through its wholly owned subsidiary, Resolute (Bibiani) Pty Ltd. The Government of Ghana is entitled to a 10% free carried interest in Mensin Gold Bibiani Limited.
Since assuming ownership in 2014 Resolute has embarked on two surface and underground resource drilling programs to re-assess the underground mine potential and in June 2018 released an update to its June 2016 feasibility study. This update demonstrated the potential for Bibiani to produce ~100,000oz per annum at a Life-of-Mine All-In Sustaining Cost of US$764/oz over a 10-year mine life.
As part of its re-start work, Resolute is currently focused on project execution planning and further refinement of mining and processing strategies.