Resolute Mining chief executive Peter Sullivan. Picture: Steve Ferrier/The West Australian.
Resolute Mining chief executive Peter Sullivan. Picture: Steve Ferrier/The West Australian.

UPDATE 2.20pm: Shares in Resolute Mining jumped on the back of a positive production report and a higher gold price.

Resolute said it produced 342,773 ounces last financial year, just shy of its guidance of 345,000 ounces, while cash costs of $922 an ounce were slightly above guidance of $890 an ounce, which it attributed to currency movements.

The company gave full-year 2015 production guidance of 315,000 ounces at expected cash costs of $890 an ounce.

Resolute said it held cash, bullion and liquid investments of $68 million at the end of the year.

Chief executive Peter Sullivan said Resolute continued its trend of solid production from its operations in both Africa and Australia for the 2014 financial year.

"With Golden Pride at an end, the company now moves into a transitional year in 2015 with oxide production to come on stream at Syama," he said.

"We continue to pursue some exciting growth opportunities to extend mine life at our existing operations while also progressing work on potential underground production at Bibiani in Ghana, the latest addition to our asset base."

Gold was trading at a spot price of $US1323.50 at 1.20pm.

Resolute shares closed up four cents, or 6.84 per cent, at 62.5 cents.

The West Australian

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