24th Feb 2023 12:07
(Alliance News) - Resolute Mining Ltd on Friday reported exceeding its gold production outlook for 2022.
Resolute Mining is a Perth, Australia-based gold miner, developer, and explorer with more than 30 years of experience across Australia and Africa.
For 2022, the company recorded gold production of 353,069 ounces, exceeding guidance of 345,000 ounces.
Revenue increased to USD651.1 million from USD549.2 million a year ago, from gold sales of 357,447 ounces at an average realised price of USD1,819 per ounce.
Net loss before tax narrowed to USD14.1 million from USD327.8 million in 2021.
Earnings before interest, tax, depreciation, and amortisation amounted to USD148.2 million, up from USD129.9 million a year earlier.
Chief Executive Officer Terry Holohan said: "Resolute was focused on continuing to optimise the performance of its gold mines during 2022, and was pleased to increase overall production, which grew quarter-on-quarter throughout 2022."
Looking ahead, Resolute Mining said it expects overall gold production to be 350,000 ounces for 2023.
Shares were up 1.6% at 14.60 pence each on Friday around midday in London.
By Xindi Wei, Alliance News reporter
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