Resolute Mining Ltd 34.2% potential upside indicated by Berenberg Bank

Resolute Mining Ltd with ticker (LON:RSG) now has a potential upside of 34.2% according to Berenberg Bank.

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Berenberg Bank set a target price of 37 GBX for the company, which when compared to the Resolute Mining Ltd share price of 28 GBX at opening today (06/06/2024) indicates a potential upside of 34.2%. Trading has ranged between 16 (52 week low) and 31 (52 week high) with an average of 435,306 shares exchanging hands daily. The market capitalisation at the time of writing is £1,149,783,265.

Resolute Mining Ltd is an Australia-based gold miner, developer, and explorer company. The Company owns two producing gold mines: the Syama Gold Mine in Mile (Syama) and the Mako Gold Mine in Senegal (Mako). The Syama is located in the southwest of Mali, approximately 30 kilometers (km) from the Cote d’Ivoire border and 300 km southeast of the capital Bamako. Syama Gold Mine is a large-scale operation, comprising the established Syama Underground Mine, the Tabakoroni Complex and the 3.5 Moz Syama North Resource along with several satellite oxide pits. The Mako Gold Mine, located in eastern Senegal, is an open pit mine with potential life extension through several near-mine exploration opportunities. Mako is owned and operated by the Company’s Senegalese subsidiary, Petowal Mining Company S.A. The Company is also active in exploration with drilling campaigns underway across its African tenements with a focus on Mali, Senegal and Guinea.