The Ravenswood Gold Mine is a proven producing asset with multiple open pits to support large scale, low cost, long term production beyond the life of the existing Mt Wright Underground Mine. Ravenswood is located approximately 95km south-west of Townsville and 65km east of Charters Towers in north-east Queensland, Australia.
Resolute owns 100% of the Ravenswood Gold Mine through its wholly owned subsidiary, Carpentaria Gold Pty Ltd.
The Ravenswood Expansion Project which provides the next phase of growth comprises the development of two large open pits at Buck Reef West and Sarsfield. The latest Ravenswood Expansion Project study outlined the Company’s plans to deliver 1.5Moz of gold production over 10 years at a Life-of- Mine All-In Sustaining Cost of US$823/oz (A$1,097/oz).
Resolute is now undertaking strategic review of the Ravenswood Expansion Project with an initial focus on enhancing project economics by pursuing reductions in capital and operating costs. The review will also assess the potential for further growth through processing expansions, mine life extensions, and increased production capacity. Ongoing work has identified new exploration targets along with opportunities for plant expansions and improved environmental outcomes. Resolute intends for the strategic review to capture these enhancements and incorporate them into an updated mine plan.
The processing plant is currently configured for processing 2.8Mtpa (nameplate capacity of 5Mtpa) of ore using three-stage crushing, SAG and ball milling and carbon-in-pulp processing with a gravity circuit.