BRIEF-Resolute Performance Fund says urges Wesdome to commission independent review into mining operations

Thu Jun 9, 2016 2:00pm EDT
 
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June 9 (Reuters) - Resolute Performance Fund

* Resolute performance fund says urges Wesdome to commission an independent review to assess corporation's mining operations

* Resolute performance fund says resolute is largest shareholder of Wesdome, holding 33,350,000 shares or approximately 25.7% of outstanding shares

* Resolute performance fund says since October 2015 resolute has been trying to get explanations from Wesdome with respect to operational issues

* Resolute performance fund says "unfortunately Wesdome has been unwilling, either privately or publicly, to adequately address these issues"

* None of correspondence received from Wesdome's special committee addressed operational issues

* "we have concerns about credibility of Wesdome's guidance for 2016"

* Resolute performance fund says resolute is fully prepared to consider a sale of Wesdome "at right price"

* Resolute performance fund highlights ongoing operational issues at Wesdome gold mines Source text for Eikon: (Bengaluru Newsroom; +1 646 223 8780; )