Resolute Mining

Resolute Mining offers a compelling investment opportunity through its unique combination of established cash-generating operations and near-term development projects in premier African mining jurisdictions. The company’s diversified three-country footprint provides operational resilience while delivering immediate production with 275,000-285,000 ounces guided for 2025 at an AISC of $1,750-1,850 per ounce. 

The flagship Doropo project represents a transformational growth catalyst, with an updated 4.4 million ounce mineral resource estimate and definitive feasibility study optimization underway, targeting first production in 2028. Resolute’s strong balance sheet, featuring $136.6 million in net cash and robust operating cash flows of $227.8 million year-to-date, provides financial flexibility to fund growth without dilutive equity raises. 

With gold production from existing operations, significant exploration upside across six permits, and established relationships with host governments, Resolute is positioned to deliver substantial shareholder value as it executes its growth strategy.

Resolute Mining is led by an experienced executive team with deep expertise in African mining operations, project development, and strategic finance. Chief Executive Officer Chris Eger, appointed in February 2025, brings over 25 years of leadership experience in natural resources and investment banking, previously serving as CFO of Chaarat Gold Plc and Nyrstar NV, and as M&A Director at Trafigura AG. 

Dave Jackson, appointed CFO in February 2025, is a Canadian Chartered Accountant with 12 years of mining industry experience, including eight years at Endeavour Mining in senior financial roles across Africa and London. 

Chief Operating Officer Gavin Harris, appointed in July 2025, is a Chartered Mining Engineer with over 20 years of operational experience across gold, nickel, and copper operations in West Africa, Australia, and the Middle East, most recently serving as General Manager at Egypt’s Sukari Gold Mine. 

This leadership team combines technical mining excellence, financial discipline, and extensive West African operating experience, positioning Resolute to execute its growth strategy while maintaining strong community relationships and operational efficiency across its three-country portfolio.

Resolute is executing a comprehensive growth strategy focused on expanding production from 275,000 ounces to over 500,000 ounces annually by 2028 through a portfolio of high-return projects. The Doropo project in Côte d'Ivoire represents the primary growth engine, with 4.4 million ounces of resources, an optimized DFS expected in Q4 2025, and final investment decision anticipated upon permit receipt. 

In Senegal, the Mako Life Extension Project adds 600,000 ounces through Tomboronkoto and Bantaco deposits, with Bantaco South drilling confirming mineralization over 350 meters and mining activities scheduled for H2 2027. The Syama Sulphide Conversion Project in Mali, with $30 million in 2025 capex, will enable processing of sulphide ore from Q1 2026, extending mine life and reducing costs. 

Exploration continues across six permits in Côte d'Ivoire, including the ABC Project’s 2.16 million ounce inferred resource and La Debo’s 400,000 ounce resource, providing additional pipeline opportunities to sustain production beyond 2030.

Resolute Mining maintains a robust financial position with $168.2 million in cash and bullion as of September 30, 2025, representing a $26 million increase during the quarter and demonstrating strong cash generation capability. Year-to-date revenue reached $664.1 million with EBITDA of $292.8 million, reflecting operational efficiency despite industry cost pressures. The company’s all-in sustaining cost of $1,834 per ounce year-to-date positions Resolute competitively within the mid-tier producer category, with Q3 costs of $2,205 per ounce impacted by temporary factors including higher royalties and lower-grade stockpile processing. 

Capital expenditure guidance of $109-126 million for 2025 is fully funded from operating cash flows, with major projects including the $30 million Syama sulphide conversion and $20.7 million spent year-to-date. With $227.8 million in operating cash flows year-to-date and minimal debt, Resolute’s balance sheet strength provides flexibility to finance the Doropo development through a combination of internal cash flows, project debt, and strategic partnerships, targeting financing acceleration in H1 2026 upon DFS completion.

Resolute Mining Limited represents a unique investment opportunity combining immediate gold production, substantial cash generation, and transformational growth potential in West Africa’s premier mining jurisdictions. With three operating assets delivering 275,000-285,000 ounces annually, a $136.6 million net cash position, and the advanced 4.4 million ounce Doropo project targeting 2028 production, Resolute offers both near-term cash flow and significant production upside. 

The company’s strategic diversification across Mali, Senegal, and Côte d'Ivoire reduces jurisdictional risk while providing multiple growth pathways through the Mako Life Extension Project and extensive exploration portfolio. 

As Resolute advances toward its 500,000 ounce annual production target, investors gain exposure to a de-risked growth story with proven operational expertise, strong government relationships, and financial capacity to execute without dilution. For investors seeking leveraged exposure to gold through a company transitioning from mid-tier to major producer, Resolute Mining presents a compelling, timely opportunity.