(RSG -25.4%) Ghana has revoked a mining lease at Resolute’s Bibiani mine which caused the stock to tumble today. The mine was sold to Chinese group Chifeng for a total of $US105m last year with the latest news putting settlement in doubt. The money was earmarked to pay down debt with RSG’s balance sheet in a tight spot holding $230m of debt at the end of the year. It’s other mines are operating as normal at this stage.
RSG is on a tight leash.
Add To Hit List
