Resolute March 2026 quarterly activities report

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# Resolute March 2026 quarterly activities report

Source: https://www.rml.com.au/wp-content/uploads/2026/04/RSG-ASX-March-2026-Quarterly-Report-FINAL.pdf
Published: 2026-04-22T00:00:00+00:00
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# Resolute March 2026 quarterly activities report
Source: https://www.rml.com.au/wp-content/uploads/2026/04/RSG-ASX-March-2026-Quarterly-Report-FINAL.pdf
Published: 2026-04-22
ASX Announcement
23 April 2026
Q1 2026 Activities Report
For the Quarter ending 31 March 2026 (‘Q1’, ‘March Quarter’ or ‘the Quarter’)
Quarterly Highlights
• Total Recordable Injury Frequency Rate (TRIFR) of 0.43 with only one recordable injury during Q1
• Group gold production of 59,603 ounces (oz) (Q4 2025: 65,918oz) in line with expectations at both
Mako (Senegal) and Syama (Mali)
• All-In Sustaining Costs (AISC) of $2,210/oz (Q4 2025: $1,877/oz) in line with guidance as cost
reductions partially offset higher royalty payments due to record average realised gold prices
• Capital expenditure of $33.4 million (Q4 2025: $28.7 million) consisting of $14.3 million non-
sustaining, $6.9 million of sustaining, $5.1 million exploration capital spend, $7.1 million at Doropo and
Mako Life Extension Project (MLEP). Remains on track with guidance ($310 - 360 million)
• Operating cash flow generation of $119.8 million (Q4 2025: $85.7 million) (operating cash flow before
capital expenditure, exploration and working capital)
• EBITDA of $202.9 million (Q4 2025: $104.9 million); $337.6 million revenue (Q4 2025: $201.5 million)
• Net cash of $315.4 million (Q4 2025: $209.0 million), including cash, cash equivalents and bullion of
$327.6 million. Drawn overdraft balances and equipment financing were $12.2 million
• Proceeds of $31.9 million received from the sale of Resolute's stake in Loncor Gold
• Key milestones reached at the Doropo Project (Côte d'Ivoire) including receipt of the mining permit
and formal approval of Final Investment Decision (FID)
• Strategic Memorandum of Understanding (MoU) signed with Nimba Mining Company regarding
the potential co-development of gold projects in Guinea
• Ore Reserves and Mineral Resource Statement for 31 December 2025 published:
• Total Mineral Resources increased by 60% to 17.6 Moz Au with the acquisition of the Doropo and
ABC projects and exploration success at Bantaco and La Debo
• Total Ore Reserves increased by 55% to 6.8 Moz Au with the addition of Ore Reserves at Doropo
and Tomboronkoto offsetting mining depletion in Mako and Syama
• Promising drill results at ABC Project (Côte d'Ivoire) including 73m at 0.8 g/t Au from 2m along strike
of the existing MRE at Kona South
• Scoping Study for the ABC Project remains on track for completion in Q2 2026
• On track to meet production guidance of 250 - 275 koz. Group AISC of $2,000 - 2,200/oz is
maintained, however is subject to change at current elevated gold prices and higher fuel costs
ASX Announcement
Note: Unless otherwise stated, all dollar figures are United States dollars ($). AISC guidance is based on $4,000/oz gold price.
Resolute Mining Limited (Resolute, the Company or the Group) (ASX/LSE: RSG), the West Africa-
focused gold miner, is pleased to present its Quarterly Activities Report for the period ended 31 March
2026.
Chris Eger, Chief Executive Officer, commented,
“It has been a positive start to 2026 at both our operations and at our development and exploration
projects.
Our operations continued to perform in line with expectations and generated $119.8 million of operating
cash flows helping boost our net cash position to $315.4 million. We remain on track with production
guidance which is weighted to H2 as the Syama Sulphide Conversion Project is commissioned and ramps
up.
In Cote d'Ivoire we have had a very successful Quarter at ABC and Doropo. At ABC we have been
focusing on strike extensions of the Kona South and Central deposits that have an existing MRE of 2.2
Moz. With the success we have been seeing at ABC, including an intercept from surface of 73 m grading
0.8 g/t, we will continue drilling in order to further expand resources. During Q1 we started a scoping
study for ABC, based on the existing MRE, which we expect to release in Q2. At Doropo we achieved
two major milestones: receipt of our mining permit and formal approval of FID. In April ground clearance
activities started and we remain on track for first gold in H2 2028.
In Senegal, stockpile processing at Mako continued to perform extremely well. Additionally, strong
progress was made on technical and permitting workstreams for the MLEP. Internal technical studies
currently indicate annual gold production levels of 75 - 85 koz over seven years from the Tomboronkoto
and Bantaco deposits at a capital cost of between $125 - 150 million. We are continuing with optimizations
and are confident of further improvements to the project.
During the Quarter we also signed a strategic MoU with Nimba Mining Company to evaluate projects in
Guinea. This aligns with Resolute's strategy of building a pipeline of high-quality growth opportunities in
established West African gold jurisdictions and complements our other activities in Guinea.
While the ongoing situation in the Middle East has not resulted in any direct disruptions to our supply
chain, we are closely monitoring developments. There is a potential for increased AISC due to rising fuel
prices, which could impact our operational costs in the coming quarters. At this stage, we are proactively
managing these risks and, where possible, minimizing any impacts.
Overall, I am pleased with the Group's activities and financials in Q1. We remain confident in delivering
against our guidance, supported by a robust balance sheet and experienced teams, that are well placed
to continue performing across the business as we move into Q2.”
ASX Announcement
Webcast and Conference Call
Resolute will host a conference call for investors, analysts, and media on 23 April 2026, to discuss the
Company’s Quarterly Activities Report for the period ending 31 March 2026. This call will conclude with
a question-and-answer session.
Conference Call: 6:00pm (AEST, Sydney) / 9:00am (BST, London)
Webcast registration link: https://sparklive.lseg.com/ResoluteMiningLtdAustralia/events/c3dd5dd8-
30b9-42d2-ae18-47b19e044b88/resolute-mining-ltd-q1-2026-conference-call
Written questions can be submitted using the ‘Ask a Question’ button on the webcast page. Those
wishing to ask questions as part of the Q&A should use the conference call facility (please join five
minutes before the start time).
Conference call registration link: https://registrations.events/direct/LON34665289
A presentation, to accompany the call, will be available for download on the Company’s website:
https://www.rml.com.au/investors/presentations/.
ASX Announcement
Group Operations Overview
March December March
2026 2025 2025
Group Summary Units Quarter Quarter % Change Quarter
Mining
Ore Mined t 794,436 858,470 (7)% 1,345,796
Mined Grade g/t 2.21 2.14 3% 1.97
Processing
Ore Processed t 1,633,013 1,581,115 3% 1,550,187
Processed Grade g/t 1.40 1.51 (7)% 1.79
Recovery % 81 84 (4)% 84
Gold Poured oz 59,603 65,918 (10)% 75,497
Sales
Gold Sold oz 69,352 49,941 39% 64,322
Average Realised Price $/oz 4,858 4,023 21% 2,840
Financials
Total Capital Expenditure $m 33.4 28.7 16% 29.4
Net Cash $m 315 209 51% 100
AISC $/oz 2,210 1,877 18% 1,708
Table 1: Resolute Group Operational Performance Summary
During the Quarter, Resolute processed over 1.63 Mt across Syama (Mali) and Mako (Senegal) at an
average milled head grade of 1.40 g/t. In Q1 the Group produced 59,603 oz of gold at an AISC of
$2,210/oz.
ASX Announcement
Environmental and Social Update
Resolute’s year-to-date (and quarterly) TRIFR as of 31 March 2026 improved to 0.43 (full-year 2025:
1.87) with one recordable injury during the Quarter. This is a significant decrease on previous quarters
with improvements to preventive safety measures and leading indicators during H2 2025.
In Q1, Resolute recorded no significant environmental incidents, regulatory non-compliances, and no
reportable community grievances.
During the Quarter, Resolute published its 2025 Sustainability Report, Climate Report and Greenhouse
Gas Emissions Calculation Method Statement. These climate-related disclosures were prepared in
accordance with the Australian Sustainability Reporting Standards (ASRS).
Resolute is undergoing external assurance against the Responsible Gold Mining Principles and Conflict
Free Gold Standard with assurance reports expected in Q2. In addition, Resolute will be audited against
the Responsible Gold Guidance in Q2. ISO14001 Environmental Management and 45001 OHS
Management audits at Syama are now expected in Q4.
In Senegal, the focus has been on the Mako Life Extension Project, comprising technical studies in
support of the Tomborokoto and Bantaco satellite deposits, and expansion of the existing Mako Mine
process plant. For the Tomboronkoto Satellite Deposit, the Environmental & Social Impact Assessment
(ESIA) report was validated by the environmental regulator in advance of ministerial approval.
Consultation is ongoing with potentially affected persons for the resettlement of Tomboronkoto village,
who have selected their preferred site for detailed resettlement planning. In parallel, formal ESIA studies
are ongoing for (i) the expansion of the Mako Mine process plant, including a new Tailings Storage Facility,
and (ii) the Bantaco Satellite Deposit. Draft ESIA reports for these two project components are scheduled
for submission to the environmental regulator in Q2.
At the Doropo Project, Côte d’Ivoire, the first phase of land acquisition is nearing completion in preparation
for the commencement of early works construction activities in Q2 2026. Strategies have also been
developed in consultation with project affected communities to enhance local economic participation
through project-related employment and procurement opportunities.
At Syama, Mali, a detailed feasibility study and accompanying ESIA were initiated for the development of
a third Tailings Storage Facility. This follows satisfactory results from the completion of multi-criteria
alternatives analysis for tailings management and conceptual design studies on the preferred design
option.
ASX/LSE: RSG I rml.com.au
Page 1 of
ASX Announcement
Mali
Syama Operations
Syama gold production for the Quarter was 43,802oz at an AISC of $2,227/oz. The operational
performance is set out in the table below.
March December March
2026 2025 2025
Summary Units Quarter Quarter % Change Quarter
Sulphide
Ore Mined t 711,718 711,984 —% 512,485
Mining
Mined Grade g/t 2.23 2.20 1% 2.45
Oxide
Ore Mined t 82,718 146,486 (86)% 221,846
Mined Grade g/t 2.06 1.83 20 % 1.41
Sulphide
Ore Processed t 627,706 582,931 8% 587,009
Processed Grade g/t 2.36 2.34 1% 2.35
Recovery % 76 78 (2)% 77
Gold Poured oz 36,682 35,998 2% 36,143
Processing
Gold Sold oz 47,070 18,861 150 % 30,733
Oxide
Ore Processed t 431,768 394,486 9% 429,183
Processed Grade g/t 0.64 1.02 (37)% 1.03
Recovery % 76 81 (6)% 84
Gold Poured oz 7,120 11,165 (36)% 12,091
Gold Sold oz 7,120 11,165 (36)% 12,091
Syama combined
Cost Capital Expenditure $m 20.6 18.1 14 % 23.8
AISC $/oz 2,227 1,779 25 % 1,835
Table 2: Syama Production and Cost Summary
At Syama, production delivered a strong start to the year, with 43,802 oz of gold poured in Q1 across
both sulphide and oxide operations, in line with the Company’s plan. Operational performance remained
robust, with both processing plants achieving consistently high utilisation and availability, supporting total
ore throughput of approximately 1.06 Mt for period.
As expected, oxide mining was lower than the prior Quarter with material primarily sourced from the A21
(Syama North) open pit. Oxide mining is expected to continue in Q2 to build stockpiles for processing
later in the year. In

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