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Resolute Mining Limited — Capital/Financing Update 2009
Jul 14, 2009
10548_rns_2009-07-14_9228281a-8228-4786-a2c5-fa4da4048264.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
SYAMA COMMISSIONING UPDATE
Resolute Mining Limited is pleased to advise that it continues to make good progress with the commissioning and ramp up of the Syama Gold Mine in Mali.
Plant commissioning has now moved into the plant ramp up and optimisation phase with all process areas operating.
The majority of construction punch list items have been completed with only minor items remaining outstanding.
The focus during the June quarter was on resolution of design, construction and supply issues for each of the key areas leading to the successful operation of the plant. Overall plant performance during this period has been affected by the intermittent nature of the operation.
Despite this, each key operating area of the sulphide process plant has operated in line with its design criteria and continues to improve in performance.
Crusher & Grinding
The crusher and grinding areas have previously been operated for extended periods with stockpiled soft oxide material.
Crusher throughput on the hardrock material has been reduced due to delays in the rectification of a number of issues that arose from the earlier operation, however, the processing of sulphide hardrock ore has significantly reduced the blockages encountered when treating the soft oxide ore.
The grinding circuit has performed in accordance with design delivering the feed sizing needed for the flotation circuit.
Flotation
Sulphide flotation performance during periods of stable feed has remained steady with consistent achievement of a sulphide sulphur grade above 30% in the concentrate, which is the level required to maintain autothermal roaster performance.
RESOLUTE MINING LIMITED A.C.N. 097 088 689 A.B.N. 39 097 088 689 4[th] Floor, The BGC Centre, 28 The Esplanade, Perth, Western Australia 6000. PO Box 7232 Cloisters Square, Perth, Western Australia 6850. Telephone +61 8 9261 6100 Facsimile +61 8 9322 7541 Email : [email protected]
Concentrate production has been very efficient with a typical concentrate upgrade of 20:1 and gold recovery of +80% being regularly achieved from what has been predominantly lower grade feed.
Optimisation and metallurgical investigations are underway to improve flotation gold recovery and higher feed grade is also expected to lead to an increase in recovery levels.
Roaster and Scrubber
The roaster has consistently operated in a stable and autothermal manner since its initial start up. It has achieved near full production rates and is meeting the process performance guaranteed by Outotec for sulphur elimination.
The roaster and scrubber have been the most problematic areas of commissioning and the major reason for roaster downtime has been issues associated with the downstream off-gas scrubber circuit.
These issues have been systematically resolved and improvements in utilisation are expected during the optimisation phase of commissioning.
Gold Leach
Calcine production from the roaster has been delivered to the leach tanks at a grade in the order of 60g/t and a significant gold inventory has been built up in the leach circuit.
Leaching of the calcine is achieving gold recoveries in excess of 85% with further improvement expected.
Gold Production
The first gold pour from sulphide ore processing occurred during June 2009. Gold production from commissioning activities during the month of June was 4,046 ounces. This expected to ramp up over the next few months as more consistent plant operation is achieved.
At full capacity, Syama is forecast to produce an average of 250,000 ounces of gold per annum over the life of the mine.
It will also consolidate Resolute’s status as one of Australia’s leading ASX-listed gold miners on both a production and resource ounce basis.
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PETER SULLIVAN Chief Executive Officer 15 July 2009
RESOLUTE MINING LIMITED A.C.N. 097 088 689 A.B.N. 39 097 088 689 4[th] Floor, The BGC Centre, 28 The Esplanade, Perth, Western Australia 6000. PO Box 7232 Cloisters Square, Perth, Western Australia 6850. Telephone +61 8 9261 6100 Facsimile +61 8 9322 7541 Email : [email protected]