Resolute Mining (RSG) Q3 2025 TU earnings summary

Executive summary

• Q3 gold production was 59,857 ounces, with group AISC at $2,205/oz and net cash of $136.6 million.

• Net cash increased by $26 million during Q3, with cash and bullion at $168.2 million and available liquidity of $244.5 million.

• 2025 production guidance narrowed to 275,000–285,000 ounces, AISC revised to $1,750–1,850/oz, reflecting higher royalties and lower output at Syama.

• Strategic growth projects in Côte d’Ivoire (Doropo), Senegal (Mako extensions), and Mali are progressing on schedule.

• Doropo Mineral Resource Estimate increased to 4.4 million ounces, with updated DFS and permitting on track.

Financial highlights

• Year-to-date EBITDA reached $292.8 million on $664.1 million revenue.

• Operating cash flow in Q3 was $67.8 million; year-to-date CapEx totaled $89 million, with Q3 CapEx at $26.5 million.

• Cash and bullion at quarter end was $168.2 million, a $67 million increase since the start of the year.

• Quarterly gold sales were 63,483 ounces at an average price of $3,404/oz.

• Overdraft facilities of $100 million remain available for working capital flexibility.

Outlook and guidance

• 2025 group production guidance narrowed to 275,000–285,000 ounces, AISC revised to $1,750–1,850/oz.

• Syama full-year production guidance reduced to 177,000–183,000 ounces, AISC $1,900–2,050/oz; Mako guidance raised to 98,000–102,000 ounces, AISC $1,300–1,400/oz.

• Production expected to remain stable in 2026, with significant growth to over 500,000 ounces annually from 2028 as Doropo and Mako Life Extension come online.

• Capital expenditure guidance for 2025 is $109–126 million.