Business
Why the Resolute Mining (ASX:RSG) share price is pushing higher today
The Resolute Mining Limited (ASX: RSG) share price has avoided the market selloff and is edging higher today.
In afternoon trade, the gold miner’s shares are up 1% to 65 cents.
Why is the Resolute share price rising?
Investors have been buying Resolute shares for a couple of reasons on Friday.
One is the heightened demand for safe haven assets because of the market selloff, the other is the release of its full year results this afternoon.
In respect to the latter, Resolute reported revenue of US$618.3 million and underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of US$269.7 million. This represents a 15.4% and 87% increase, respectively, over the prior corresponding period.
This was driven by a 2.7%…
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