Aug 30, 2016

Ravenswood miner pays dividends in gold

Ravenswood miner pays dividends in gold Resolute managing director and chief executive officer John Welborn with chief executive officer of The Perth Mint, Richard Hayes.

Resolute Mining has announced a dividend of 1.7c per share following the adoption of an gold sales-linked dividend policy which includes the opportunity for shareholders to receive dividends in gold.

Resolute owns operations in Africa and Australia including the Ravenswood gold mine near Charters Towers in North Queensland.

Resolute has partnered with The Perth Mint to provide shareholders with the opportunity to receive dividend payments in gold.

Shareholders who hold 5000 or more Resolute shares will be able to elect to be paid their dividend payment in gold via a personal account held with The Perth Mint.

This account will allow shareholders to securely store and accumulate Resolute gold dividends, buy and sell gold and other precious metals, and convert gold balances into a range of bars and coins subject to the terms and conditions of The Perth Mint Depository Online program.

Resolute managing director and chief executive officer John Welborn said the company’s recent strong performance had allowed the adoption of the unique dividend policy.

“The 2016 financial year has been transformational for Resolute with the generation of a record profit of $213 million, a stunning turnaround in the strength of the company’s balance sheet, and the completion of a number of key studies designed to ensure long-term profitable gold production,” he said.

“Resolute’s new gold sales-linked dividend policy rewards our shareholders by providing a sustainable income stream that allows direct participation in our ongoing production success.

“Having generated sales of more than seven million ounces of gold from over 25 years of continuous production, and with over 14 million ounces of gold in Reserves and Resources at our existing projects, Resolute shareholders will now be rewarded with a dividend based on a fixed proportion of future revenue from our gold production.”

 

The Perth Mint operates the only government guaranteed investment and storage program in the world and has been offering private precious metal storage options for investors since 1999. This service now includes an innovative and modern platform which allows investors to hold and trade precious metals online.

 

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