Resolute Mining (RSG) Q2 2026 earnings summary

Executive summary

• Q2 2026 gold production was 45,192 oz, with strong operational performance in Senegal, Côte d'Ivoire, and Guinea, but ongoing challenges in Mali due to security and regulatory issues.

• EBITDA reached $128.5 million and operating cash flow was $77.4 million, supporting a net cash position of $317.4 million.

• Major projects advanced: Doropo construction ramped up and remains on track, with $36.7 million capex in Q2 and first gold targeted for H2 2028; ABC Project updated its resource to 3.0 Moz and feasibility studies are underway.

• Robust safety performance with a TRIFR of 0.59 and only two reportable injuries in Q2.

• Strategic focus on expanding production to over 500 koz annually by 2028, leveraging organic growth pipeline.

Financial highlights

• Q2 revenue was $247 million from the sale of 54,599 oz at an average realized price of $4,526/oz.

• EBITDA for Q2 was $128.5 million; operating cash flow was $77.4 million.

• Net cash at quarter end was $317.4 million, with available liquidity of $426 million.

• CapEx and exploration spend totaled $63.5 million, including $36.7 million at Doropo and $9.3 million for exploration.

• Received $53.9 million from the Ravenswood sale proceeds.

Outlook and guidance

• Full-year gold production guidance maintained at 250,000–275,000 oz, expected at the lower end, with group AISC guidance of $2,000–2,200/oz.

• Targeting over 500,000 ounces of annual gold production from 2028, with potential to reach 700,000–750,000 ounces after ABC comes online.

• Doropo project fully funded with local bank financing and existing liquidity; first gold expected H2 2028; ABC feasibility and drilling to accelerate in H2 2026.

• Capital expenditure guidance for 2026 is $310–360 million, with Doropo capex weighted to H2.