ASX set to rally; Wall Street bounces back, Bitcoin slips

ASX set to rally; Wall Street bounces back, Bitcoin slips


African-focused gold miner Resolute has made Stuart Gale’s interim chief executive position permanent, following a global search for a successor to John Welborn.


Mr Gale has been acting chief executive of the $645 million company since Mr Welborn resigned in October, and was previously the chief operating officer.


Mr Gales has been with Resolute since January last year.



Stuart Gale has been named Resolute Mining’s chief executive officer. Credit:www.visitmaryborough.com.au


He will be paid $750,000 per year, and will receive a $150,000 payment for handling the dual duties of chief executive and chief operating officer for the past seven months.


Terry Holohan has joined as Resolute’s new chief operating officer from PT Archi Indonesia.


Resolute currently operates the Syama Gold Mine in Mali and the Mako Gold Mine in Senegal.


Last month the Ghanaian government restored Resolute’s Bibiani mining lease, so long as it does not sell the project to China’s Chifeng Jilong without “express permission”.


Shares in the company closed at 58.5 cents on Thursday and are down 26 per cent so far this year.




Rating changes, via Bloomberg


  • Crown Resorts (CWN): Raised to Overweight at JPMorgan; PT $15

  • GrainCorp (GNC): Cut to Neutral at Credit Suisse; PT $5.54

  • New Hope (NHC): Raised to Outperform at Credit Suisse; PT $1.30

  • Qube (QUB): Raised to Accumulate at Ord Minnett; PT $3.31

  • South32 (S32); Cut to Neutral at Credit Suisse; PT $3

  • Western Areas (WSA): Cut to Neutral at Credit Suisse; PT $2.40

  • Whitehaven (WHC): Raised to Outperform at Credit Suisse; PT $1.55



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