Australian (ASX) Stock Market Forum

RSG - Resolute Mining

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Looks like we're missing out here @finicky :banghead:

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finicky said:
Is it bumptious to quote ones self?
I never worry about the one's that get away that I've judged as unsound as best I can
It's the Whitehaven (WHC) sort that rankle.
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We watched this happen but didn't do anything. I think I had chosen my set of gold stocks and didn't want to add another Coup Central to the stable.

I suppose picking any gold producer over the past year would have been ok.


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Might have just been unlucky not to be on the gold train (and particular stocks) over the past year. Just a matter of when the music stops. Might be a long dance.

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Had a punt on RSG today.
It has been tarred with the West African sovereign risk mantra, but it is operating in a different country to Burkina Farso.
plus it will put out a quarterly within the next few weeks which should show some pretty good cash flow.
Mick
 
mullokintyre said:
Had a punt on RSG today.
It has been tarred with the West African sovereign risk mantra, but it is operating in a different country to Burkina Farso.
plus it will put out a quarterly within the next few weeks which should show some pretty good cash flow.
Mick
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I admire your mettle on a day like today.

They have an MRE coming out this quarter that could surprise.

Output going up, AISC coming down, and unhedged. Could be a very good quarter.
 
Michael Gable (Fairmont Equities) tipping RSG on 'Share Tips', Oct 7.

Not Held
Not buyng anything African

"ASX:RSG
RSG is a $1.6b African based gold miner and explorer. We continue to be bullish on the gold price from here due to falling interest rates, a weakening US dollar, and increased central bank buying. As a mid-cap miner, it is highly leveraged to the increasing gold price. From a charting point of view, it has a very strong trend which is outperforming most of its peers."
 
finicky said:
Michael Gable (Fairmont Equities) tipping RSG on 'Share Tips', Oct 7.

Not Held
Not buyng anything African

"ASX:RSG
RSG is a $1.6b African based gold miner and explorer. We continue to be bullish on the gold price from here due to falling interest rates, a weakening US dollar, and increased central bank buying. As a mid-cap miner, it is highly leveraged to the increasing gold price. From a charting point of view, it has a very strong trend which is outperforming most of its peers."
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We should have bought this.

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Sean K said:
We should have bought this.
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What do you mean "we" paleface?
I don't buy anything that doesn't have a chance of being a longer term investment. That = nothing in Africa.
"Africa's finished", as my erswhile Rhodesian neighbour, a dispossessed and menaced farmer said.
 
finicky said:
What do you mean "we" paleface?
I don't buy anything that doesn't have a chance of being a longer term investment. That = nothing in Africa.
"Africa's finished", as my erswhile Rhodesian neighbour, a dispossessed and menaced farmer said.
Click to expand...

Well, I think @mullokintyre is the only smartface making a profit here.
 
Todays quarterly makes some very pleasant reading.
These West African gold producers, while acknowledging the sovereign risk of West Africa, are churnig out free cash at aphenomenal rate that just keeps getting stronger.
The gold prices have been higher so far this quarter, with little signs it may contract.
Ride it while we can
Mick
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finicky said:
Not Held
Not buyng anything African

"ASX:RSG."
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Australian mining CEO Terry Holohan detained in Mali​

Bloomberg
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Terry Holohan, chief executive officer of Australian gold miner Resolute Mining, has been detained by the military-controlled government of Mali in West Africa, according to people with knowledge of the matter.
Holohan and other company executives were taken by Mali’s junta over the weekend, said the people, who weren’t authorised to speak publicly.
Perth-based Resolute declined to comment. A Mali mining ministry official declined to comment when reached by phone. The matter was earlier reported by Agence France-Presse.
The apparent detention follows a number of arrests in recent weeks targeting fellow gold miner Barrick Gold employees by the military government which staged a coup d’état in 2020. Four Barrick employees were arrested in October.
Resolute, like other international miners operating in Mali, has been under growing pressure since the military seized power. The company has ramped up production at its Syama project in the nation’s southeast and a second phase of the mine is expected to be in operation in 2025.
28 mins ago – 7.43AM
 
Dona Ferentes said:

Australian mining CEO Terry Holohan detained in Mali​

Bloomberg
Share post

Terry Holohan, chief executive officer of Australian gold miner Resolute Mining, has been detained by the military-controlled government of Mali in West Africa, according to people with knowledge of the matter.
Holohan and other company executives were taken by Mali’s junta over the weekend, said the people, who weren’t authorised to speak publicly.
Perth-based Resolute declined to comment. A Mali mining ministry official declined to comment when reached by phone. The matter was earlier reported by Agence France-Presse.
The apparent detention follows a number of arrests in recent weeks targeting fellow gold miner Barrick Gold employees by the military government which staged a coup d’état in 2020. Four Barrick employees were arrested in October.
Resolute, like other international miners operating in Mali, has been under growing pressure since the military seized power. The company has ramped up production at its Syama project in the nation’s southeast and a second phase of the mine is expected to be in operation in 2025.
28 mins ago – 7.43AM
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I must agree with @finicky 's assessment of Africa. I've only visited once and have family members there. To be succinct.

Africa is f***ed.

gg
 
This is the latest I can find on the Mali arrest of Holohan. From The Africa Report. It appears the junta is still pursuing Barrick gold despite a large bribe having been paid. There are no relationships with France anymore and Russia via Wagner provide assistance on it's Northern border where the junta is threatened by Al Qaeda and ISIS.

gg
 

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This has already come off a pile from the 90c mark. Going to be interesting Monday morning. But, they can't be as dumb as WAF was and remain trading until there's some clarity about what's going on. Maybe the staff will be released tonight, or maybe they're hostages for a bribe like Barrick had to settle for.

Will probably have a flow on to the other players in the region.

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Sean K said:
This has already come off a pile from the 90c mark. Going to be interesting Monday morning. But, they can't be as dumb as WAF was and remain trading until there's some clarity about what's going on. Maybe the staff will be released tonight, or maybe they're hostages for a bribe like Barrick had to settle for.

Will probably have a flow on to the other players in the region.

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As you know @Sean K I'm not much in to Gold Miners but keep up in case I change my mind. The situation in Mali from my reading is bad, very bad. The place is run by cowboys with weapons, lawlessness is rife, Russia is actively involved in convincing the junta to nationalise the gold mines there and France has no influence anymore. The latter were the only stabilising force in Mali up until 4-5 years ago.

The USA will stay out of it and I am quite concerned for the safety of the 3 employees of RSG including the CEO who were arrested by the junta on Friday afternoon. From the chart some people knew that trouble was brewing for nearly two weeks now. It will go in to a Trading Halt.

gg
 
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