Resolute delivers solid Q1, maintains guidance amid strong operational performance
ASX- and LSE-listed Africa gold miner Resolute Mining has reported first-quarter production in line with expectations and guidance, delivering 75 497 oz of gold. This compares with 87 687 oz in the fourth quarter of 2024, with strong performances from the Mako mine, in Senegal, and the Syama Oxide operation, in Mali.
Quarterly gold sales amounted to 64 322 oz at an average realised price of $2 840/oz, up from 83 145 oz at $2 659/oz in the previous quarter.
Resolute processed over 1.55-million tons across Syama and Mako at an average milled head grade of 1.79 g/t. Both sites operated in line with expectations, with Syama’s crusher, mill and roaster circuit each achieving availability above 93%.
“It has been a strong start to the year for Resolute with both operations running smoothly and continuing to generate very robust cash flows,” said CEO Chris Eger.
The company's net cash position has increased by $34-million over the previous quarter to end at $100.3-million.
All-in sustaining costs (AISC) came in at $1 708/oz in the first quarter, in line with group guidance, despite slightly lower gold production at the Syama sulphide operation.
Meanwhile, in Senegal, the company has provided the promising drill results from Bantaco – a potential satellite deposit that could extend the Mako mine’s life. Unlike at Tomboronkoto, Bantaco does not require significant resettlement, the company says.
Resolute has reaffirmed its full-year production guidance of between 275 000 oz and 300 000 oz at a group AISC of $1 650/oz to $1 750/oz. Capital expenditure guidance of between $109-million and $126-million also remains on track.
Further, the miner published its 2024 reserves and resources statement, with total ore reserves maintained at 4.4-million ounces and mineral resources on a 100% basis at 11-million ounces.
Resolute's operating cash flow generation is $75.4-million. The group's availability liquidity is $186-million.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
