Resolute Mining’s Share Price Up 9% after Listing on LSE

Today, Resolute Mining Ltd [ASX:RSG] announced it would be listing on the London Stock Exchange, as (LSE:RSG).

At the time of writing, Resolute Mining’s share price is trading 9.27% higher at $1.18.

Resolute owns three gold mines, Syama Gold Mine in Mali, Ravenswood Gold Mine in Australia, and the Bibiani Gold Mine in Ghana.

Related: Free Guide: How to invest in gold for 2019. Download now.

Resolute Mining strategic goal

Resolute Mining’s current listing on the ASX isn’t changing, so trading on the ASX will be unaffected.

Managing Director and CEO of Resolute, John Welborn, commented on the strategic move into the LSE:

We are delighted to deliver as promised an important strategic goal for 2019. Today marks ab exciting milestone for Resolute as our shares commence trading on the Main Market of the London Stock Exchange.

The dual listing in London and the subsequent increase in profile in global investment markets is perfectly timed as we ramp up the new Syama Underground Mine in Mali. Syama, once commissioned, will be the world’s first fully automated underground gold mine. We look forward to continuing to deliver on our exciting growth agenda.’

The company didn’t raise any further funds, nor did it issue any more shares as part of the process.

Resolute Mining’s share price outlook

Resolute Mining is a dividend paying gold miner. Its listing on the LSE is set to increase the gold producer’s profile in global markets, as well as encourage its additional growth plans.

We also saw Resolute Mining’s share price be boosted by a jump in gold prices.

But investors should continue to watch Resolute Mining carefully.


Ryan Clarkson-Ledward,

For Money Morning

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Ryan Clarkson-Ledward is an Editor at Money Morning.

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