Resolute Mining Ltd announced on Thursday that it has yet to receive any official notification from the Guinean government amid media reports suggesting that several exploration permits in the country — including its own — may have been revoked.
The gold mining company, which operates across Africa, said it became aware of a recent local television report claiming that a number of permits had potentially been withdrawn, and that its own permits were named among them. Resolute stated it is now actively seeking clarity and further information from the Guinean authorities.
The company currently holds three exploration permits in Guinea: Niagassola, Doko, and Siguiri-Kouroussa. These include the Mansala Prospect, which carries an inferred mineral resource of 8.4 million tonnes grading at 1.3 grams per tonne of gold — an estimated 357,000 ounces. This estimate followed a two-year drilling campaign and was officially announced in 2024.
Earlier in May, Resolute agreed to transfer these three Guinean permits to AngloGold Ashanti Ltd as part of its acquisition of the Doropo Project. However, the transfer remains pending government approval.
Following the news, shares in Resolute Mining dropped 2.0%, trading at 29.06 pence in London by midday on Thursday.
