Resolute Mining Conference: CEO says 2025 turnaround can extend into 2026 as Doropo build nears

Resolute Mining (LON:RSG) Chief Executive Officer Chris Eger told investors the Africa-focused golden shaper believes it has “all the makings” to widen a 2025 operational turnaround into 2026 portion advancing its adjacent large maturation task successful Côte d’Ivoire. Speaking astatine a BMO-hosted event, Eger outlined accumulation guidance, superior spending plans, and what helium described arsenic a pipeline that could instrumentality the institution beyond its existent longer-term extremity of becoming a 500,000-ounce shaper by 2028.

Eger said the institution “executed flawlessly” connected a turnaround program established astatine the opening of 2025 aft a hard 2024 for some Syama and Mali. He credited augmented skilled teams crossed the business, efforts to repair relationships with authorities stakeholders, and a strategical pivot that “meaningfully” diversifies the institution into Côte d’Ivoire, which helium said volition go Resolute’s “flagship state wherever we operate.”

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He stated that Resolute operates successful 4 countries, producing astir 275,000 ounces of golden annually, with 2025 accumulation cited astatine 277,000 ounces. Eger said EBITDA successful 2025 was “over $380 million” and currency flows were “$140 million.” In the existent golden terms environment, helium added, the institution anticipates “over $500 cardinal of EBITDA” and “free currency travel of implicit $200 million,” excluding superior expenditures required for Doropo.

Eger said Resolute expects akin accumulation levels successful 2026 and 2027 earlier output rises supra 500,000 ounces erstwhile the Doropo task comes online from 2028. He reiterated that the institution remains “very overmuch connected track” to scope 500,000 ounces by 2028, adding that, fixed the golden terms environment, absorption is besides “starting to people 750,000 ounces by the extremity of the decade” done enlargement imaginable crossed its assets and further projects successful Côte d’Ivoire.

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Eger said Resolute acquired the Doropo task from AngloGold Ashanti successful May of the anterior twelvemonth for $150 cardinal successful cash, structured arsenic $25 cardinal paid upfront, $50 cardinal owed successful October, and $75 cardinal owed the pursuing year. He said cardinal 2025 milestones included hiring a task squad led by Rob Cicchini and updating the definitive feasibility survey (DFS) successful December 2025.

According to Eger, the updated economics are “incredibly robust,” and helium described Doropo arsenic being worthy “well implicit $2.5 billion.” He noted the institution ran caller pit shells astatine a $2,000 golden price, resulting successful a reserve of 2.5 cardinal ounces, and said that astatine $3,000 to $4,000 golden the reserve could summation to 3.5 cardinal to 4 cardinal ounces—suggesting a excavation beingness longer than 13 years.