StockMarketWire.com - Precious metals miner Resolute Mining posted a 32% rise in first-half profit after it boosted production and benefited from higher gold prices.

Net profit for the six months through June increased to $36.3m, up from $27.4m on-year.

Revenue from gold and silver sales climbed 33% to $305.3m after gold production rose 24% to 176,237 ounces.

The company received an average gold price of $1,427 per ounce, up from $1,275 on-year.

Resolute Mining reaffirmed its annual output guidance of 430,000 ounces.

'The first six months of 2020 will be remembered as a test of capability and resilience at Resolute,' chief executive John Welborn said.

'I am immensely proud of our teams who have safely and efficiently operated our mines during the onset of the global Covid-19 pandemic.'

'The Syama underground mine continues to improve its mining and processing performance.'

'Successful exploration has extended the life of the Syama xxide operation while we continue to investigate the opportunity for a new underground mine at Tabakoroni.'

'Mako is continuing to demonstrate it is an excellent addition to our portfolio.'




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