18
November 2024
Update in Relation to
Negotiations with Malian Government and update on Employees being
Detained in Mali
Resolute Mining (Resolute or the
Company) (ASX/LSE: RSG) confirms that, in the context of ongoing
discussions with the Government of Mali, it has executed a
memorandum of understanding expressed as a protocol (the
"Protocol").
The signing of the Protocol sets the
framework for further detailed discussions with the Government
regarding the long-term future of the operations in Mali, including
migration of the Company's assets in Mali to the 2023 Mining Code
and maintaining the safety of the Company's employees.
The Protocol also provides that all
outstanding claims by the Government against the Company, including
those related to tax, customs levies, maintenance and management of
offshore accounts are settled. Pursuant to the Protocol,
Resolute has made an initial settlement payment of approximately
US$80 million to the Government from existing cash
reserves1, with future payments of approximately US$80
million to be made in the coming months from existing liquidity
sources. Further details on other elements of the Protocol
and the impact of their implementation will be provided following
further legal and financial analysis together with the finalization
of documentation.
Resolute further confirms that it is
working with the Government on the remaining procedural steps for
the release of the three employees, including the Company's CEO,
Terence Holohan, who were recently detained in connection with
these matters. They remain safe and well and continue to receive
support on the ground from the UK and International Embassies and
Consulates. The Company notes that operations on site continue as
normal and have not been impacted.
The Company confirms that the ASX
trading halt has been lifted.
Authorised by Andrew Wray,
Non-Executive Chairman
1At 31 October 2024 the Company has total cash and bullion of
US$196 million, net cash of US$157 million
Contact
|
Resolute
Matthias O'Toole Howes,
Corporate Development and Investor
Relations Manager
Matthias.otoolehowes@resolutemining.com
+44 203 3017 620
|
Public Relations
Jos Simson, Tavistock
resolute@tavistock.co.uk
+44 207 920 3150
+44 778 855 4035 (available 24
hours)
Corporate Brokers
Jennifer Lee, Berenberg
+44 20 3753 3040
Tom Rider, BMO Capital Markets
+44 20 7236 1010
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Resolute Mining Limited
ABN 39 097 088 689
Level 17, 2 The
Esplanade, Perth, Western Australia 6000