Resolute Mining Limited

We announced our Q1 Activities Report this morning with strong cash generation and guidance maintained. View it in full here: https://lnkd.in/eh7YX--y #RSG #goldmining

Resolute Mining Limited has released its Quarterly Activities Report for the period ended 30 September 2024, which included the generation of nearly $50 million in free cash flow. Highlights include: - No lost time injuries (LTIs) recorded; there were two recordable injuries in Q3 and the total Recordable Injury Frequency Rate (TRIFR) decreased to 1.37 from 2.11 - Gold poured of 85,043 ounces (oz) (Q2 2024: 90,787oz) slightly below expectations due to extreme rainfall events at Mako and lower than expected ore grades - Gold sales of 95,242oz at an average realised spot price of $2,493/oz (Q2 2024: 88,321oz at $2,342/oz) Terry H., Managing Director and Chief Executive Officer, commented: “Despite unprecedented rains affecting mining operations at both Mako and the oxide operation in Syama, the Company still produced 85koz of gold and generated substantial free cash flow of close to $50 million. At Syama, sulphide operations continued to perform better than expected for the quarter and should perform similarly in Q4 and beyond, demonstrating the improvements we have put in place over the last 3 years.” The Company has also released a new investor presentation, following the webcast call hosted this morning, available here: https://lnkd.in/ebrbmG5S   Please find the link to read the full Quarterly Activities Report here: https://lnkd.in/etDZKRFK   #gold #mining

Look: Resolute Mining Limited CEO Terry H. took the stage at #DenverGoldForum yesterday to share Resolute’s vision for future growth and our latest exploration results. Click here to see to the full presentation: https://lnkd.in/e9zfVYPx #GoldMining #DenverGold Denver Gold Group

Resolute Mining Limited is excited to provide an update on its exploration in Senegal and Guinea. Highlights include: - Updated Inferred and Indicated Mineral Resource at Tomboronkoto, Senegal, totalling 15.5Mt grading 1.1g/t Au for 571 koz a notable increase over the initial Inferred-only Mineral Resource of 10.2Mt grading 1.2g/t Au for 403 koz (both at 0.5g/t cut-off) - Drilling is ongoing at the Bantaco Joint Venture which was signed by Resolute in early 2024 - Initial Inferred Mineral Resource at Mansala, Guinea, of 6.6Mt grading 1.6g/t Au for 343 koz (1g/t cut-off) with drilling outlining a gold mineralised shear zone over 1.5km long Terry H., Resolute CEO, commented: “We are progressing well with our priority of extending the life of the Mako operation with further drilling success and a significant increase in the Mineral Resources at the Tomboronkoto project which is close to the Mako processing facility. At the same time the drilling results at the nearby Bantaco project are also starting to intersect mineralisation close to surface and we will publish these results in due course. We are also pleased to publish the initial exploration discovery from our 100% held greenfields Niagassolo project in Guinea. Drilling over the past year has led to the completion of an initial Mineral Resource Estimate at the newly named Mansala Prospect.  We recently agreed terms of an earn-in for a project in Cote D’Ivoire and this will be announced soon subject to finalising our due diligence. Along with the ongoing drilling programs at the Syama Greenstone Belt continuously discovering more gold we will shortly have exploration drilling programs ongoing in four jurisdictions in West Africa and we remain keen to look at further opportunities in this highly prospective region.” Please find the full announcement here: https://lnkd.in/e-hnHUUz #gold #goldmining

Resolute Mining Limited is pleased to announce the Company has secured senior debt facilities of up to US$140 million with Nedbank and Citibank to strengthen liquidity. Chris Eger, CFO, commented, “We are delighted to secure this USD 60 million loan facility and appreciate the confidence Nedbank and Citibank have shown in our business. This financing demonstrates the Company’s ability to access commercial debt financing at competitive terms from international lenders. This loan facility provides us the flexibility to drive sustainable organic growth of the business as well as pursue inorganic growth opportunities." The three-year Facilities comprises: - a USD 30 million Revolving Credit Facility (RCF); - a USD 30 million Term Loan Facility with a one-year drawdown period; - USD 80 million Accordion Facility; - A credit margin of 5.25%; and - No hedging requirements.   Read the full announcement here: https://lnkd.in/eh7YX--y

Resolute Mining is pleased to share its 2024 Half Year Financial Results, demonstrating a strong performance with a 14% EBITDA increase from the same period in 2023 to $116.4 million. Resolute CEO Terry H. said, “With a net cash position of $96.6 million and remaining fully unhedged the Company is in its strongest position for several years and on track to meet its full year guidance and longer-term growth plans, including the SSCP and mine-life extension at Mako.”   Read the full report here:

In June, Resolute successfully completed a rehabilitation campaign at our Syama mine, in which we planted 5,289 trees over 10ha on our Cashew pit waste rock dump. The inauguration of this year’s planted efforts were attended by the Mayor and the Sub-Prefect of Fourou, both of whom participated in the tree planting. For the campaign, Resolute hired members of the community for the planting, to ensure that all benefits of this exercise were concentrated in the local vicinity.  At Resolute, rehabilitation of our mine sites is imperative: in 2023, a total area of 15.7ha was rehabilitated at Syama. Following the completion of earth works, a revegetation programme was launched, in which we collaborated with the local Forestry Department and Sub-Prefect of Fourou to plant local tree species. These were grown from local seeds in the Syama nursery, which produced over 22,000 tree seedlings. In addition, Syama carried out compensatory reforestation initiatives, providing tree seedlings to neighbouring villages and offering support to the Forestry departments of Fourou, Kadiolo, and Sikasso. This underscores our commitment to ensuring that we create the best possible conditions well in advance of our mine site closures. We look forward to recreating last year’s rehabilitation success, and we now extend our planting campaign to additional 12ha on our Paysans waste rock dump. #RSG #gold #mining #rehabilitation #ESG

The UNESCO World Heritage Committee has removed the Niokolo-Koba National Park in Senegal, located close to Resolute’s Mako Mine, from the list of World Heritage Sites in Danger. This decision was taken following the positive steps taken by the State Party, which have contributed to improving the natural site’s state of conservation. Over the past five years, Resolute has provided funds to the National Park via its biodiversity offset commitment as well as supporting the efforts of the State Party to improve the Park’s state of conservation. This fantastic news is welcomed by Resolute as we continue to work towards our ESG goals through robust management systems, practices and standards, as well as financing projects like these to mitigate impacts and safeguard natural resources for future generations.   To learn more about our commitment to sustainability visit the sustainability page on our website at https://lnkd.in/dUxJiWmv

Resolute Mining is pleased to share its Q2 report, with a strong operational performance at both our Mako and Syama mines. Terry Holohan CEO said “This performance has put Resolute into its strongest position in a long time with net cash at 30 June of $96.6 million.”   Read the full report here https://bit.ly/4dismyA

Resolute employee Binta Ba has been awarded a Gender Award from Women in Mining Senegal, a category that celebrates leading and inspiring Senegalese women in the Extractive Sector who have played a crucial role in defending women's rights, improving working conditions, and promoting socio-professional development. Dr. Binta Ba, a native of the Kédougou region, has been working at the Petowal Mining Company (PMC), of Resolute Mining Limited in Mako for nine years, with a PhD in climate change economics. She joined as a site administrator during the construction phase, before rising through the ranks to become superintendent of administration and then superintendent of environment. Binta founded the Mako Women group, known as AFMOM, bringing together women from the Company and surrounding communities. The main objective of AFMOM is to support women in the mining sector, promote their advancement and economic empowerment through local, sub-regional and regional initiatives. Under her presidency for the past four years, AFMOM has achieved several significant successes, including increasing the number of women at various levels within the Company, raising awareness of human rights and anti-harassment, as well as improving health and safety regulations for women. In addition, she initiated mentoring young girls in local communities. Outside of Resolute initiatives, Binta is an active member of WIM Senegal, contributing to various projects and serving as an on-site focal point. She is often invited to speak at educational events to inspire young girls to consider a career in the mining sector. Her continued commitment and achievements make her a reference for the young girls of Kédougou, illustrating her positive and lasting impact in the promotion of women in the mining sector and beyond. Resolute congratulates Binta on her latest outstanding achievement: an asset to the Company, Resolute is proud to have played a role in Binta’s success journey, that we are confident will continue. #WIM #WIMGenderAwards2024 #WomenInMining #WIMSenegal