Resolute is a moderate sized mining and exploration company, active across Australia and parts of Africa. It is primarily a gold company, although it has broad exploration interests. Resolute, through their subsidiary Samantha Mining, own a 41.71% interest in the low grade Byrgrlyi uranium deposit, NT - although Paladin and Black Range Minerals also list Byrgrlyi as one of their JV projects (50:50) (which must be adjacent to but not part of the above deposit).In 1996, Resolute entered into a 50:50 Joint Venture with Summit Resources NL (manager) for further uranium exploration at Valhalla, Queensland (near the old Mary Kathleen uranium mine). Together, they have expanded the estimated uranium resource at Valhalla to about 25,000 tonnes U3O8, claiming it could be Australia's "next uranium mine" (1) within 3 to 4 years. Resolute, sensing the opportunity to make a quick buck, has never been serious about being involved at developing Valhalla - in March 1998 the former managing director, Michael Carrick, was reported as saying that Resolute "will move to sell its interest in the Valhalla deposit before it proceeds to developement" (2). However, the rise of the Beattie Labour government to power in Queensland in June 1998 has curtailed any further development for the time being. No uranium exploration is being funded or undertaken (apparently). Besides, Resolute have major corporate structure and financial problems to deal with.
Directors : Peter E Huston (Chair), Peter R Sullivan (Chief Executive Officer), Michael Carrick (to retire soon), Duncan Saville (new board currently under negotiation). Contacts : 4th Floor, Griffin Centre, 28 The Esplanade, Perth, WA 6000
P.O. Box 7232, Cloisters Square, Perth, WA 6850
Ph (08) 9261 6100 - Fax (08) 9322 7597Website : http://www.resolute-ltd.com.au/ Email : contact@resolute-ltd.com.au Banking Services : Macquarie Bank Ltd 77 St Georges Tce, Perth, WA 6000
Barclays Bank PLC, 54 Lombard St, London, UK EC3P 3AH
Westpac Banking Corporation 109 St Georges Tce, Perth, WA 6000ASX Codes : Shares - RSG (Home Exchange - Perth, WA) Annual Reports : Quarterly Reports. Request by Email ACN : 009-069-014 Share Registry : Security Transfer Registrars Pty Ltd, 168 Adelaide Tce, Perth, WA 6000 Uranium Prospects : Valhalla, Qld (now includes Andersons Lode and Skal) (50% interest). Byrgrlyi, NT (41.71% interest). Top 19 Shareholders (Effective, 4-Sept-2000)
Company or Entity Share (%) 1 National Nominees Ltd 7.00 2 ANZ Nominees Ltd 10.34 3 Chase Manhattan Nominees Ltd 5.50 4 Westpac Custodian Nominees Ltd 5.29 5 Exchange Nominee Pty Ltd 4.68 6 Saltbush Nominees Ltd 3.59 7 Citicorp Nominees Pty Ltd 3.41 8 Elise Nominees Pty Ltd 1.33 9 David G Bell 1.18 10 Groove on Productions Pty Ltd 1.10 11 Holdex Nominees Pty Ltd 1.04 12 Tilbia Nominees Pty Ltd 1.03 13 Comintra Pty Ltd 0.89 14 Batterbury Holdings Pty Ltd 0.88 15 Chromos Paints Pty Ltd 0.83 16 Arthur Carbo 0.62 17 Robert & Margaret Mann 0.54 18 Reynolds (Nominees) Pty Ltd 0.52 19 Andy Schwarz 0.44 Total - 29.33% of Ordinary Shares No. of Ordinary Shareholders - 4,366 Director's Interests
- David T Cairns - Director of Samson Exploration NL, Sapphire Mines NL
- D Ross Kennedy - Director of Marymia Exploration NL, Samson Exploration NL, Sapphire Mines NL. Former Chief Geologist (Special Projects) for CRA Exploration.
- Robert J Pett - Director of Samson Exploration NL, Ghana Gold Mines Ltd, Victoria Petroleum NL
- Richard A Lockwood - Chair of Navan Resources PLC (UK)
- Michael J Carrick - Former Managing Partner of the Corporate Finance practice of Arthur Andersen
(1) - "Summit soars on Valhalla results", Sydney Morning Herald, Wednesday, December 10, 1997.
References - Resolute Ltd Annual Report 1998 to 2000 - Mudd (1998).
(2) - "Uranium : Will the Glamour Return ?", The Miner, March 1998, pp 8-14.
Last updated May 6, 2001.
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