Resolute Mining Q2 Earnings Call Highlights

Resolute Mining Q2 Earnings Call Highlights Written by MarketBeat July 30, 2026 Share Link copied to clipboard. Image from MarketBeat Media, LLC. Resolute Mining LON: RSG said its second-quarter operations performed strongly in Senegal, Côte d’Ivoire and Guinea, while continued logistical, security and regulatory challenges in Mali affected its Syama operation. The gold producer reported quarterly gold production of more than 45,000 ounces and group all-in sustaining costs of $2,484 per ounce. Revenue totaled $247 million from the sale of 55,000 ounces at an average realized gold price of $4,526 per ounce. The company said it remains unhedged and sells its gold at spot prices. Chief Executive Officer Chris Eger said the company generated about $130 million of EBITDA and $78 million of operating cash flow during the quarter. Resolute ended the period with net cash of $317 million, including $47 million of unsold bullion that was sold shortly after quarter-end. Mali Challenges Continue at Syama Chief Operating Officer Gavin Harris said Syama in Mali faced operational and logistical disruption during the quarter. A security incident early in the period, in which Mali’s defense minister was assassinated, subsequently affected supplier activity, transportation and contractor mobilization, according to Harris. He said the disruption affected contractors scheduled to support a plant and roaster shutdown, as well as mining equipment intended for the A21 open-pit operation. Resolute also continues to manage requirements related to Mali’s mining code and strict local-content compliance. Despite those conditions, Syama produced 29,881 ounces during the quarter. Harris cited all-in sustaining costs of $2,054 per ounce for the operation. The company used lower-grade underground sulfide stockpiles and processed oxide ore that had been planned for later in the year, while also conducting maintenance work at the sulfide plant. Resolute said the Syama Sulphide Conversion Project remains on schedule and within budget, with commissioning expected in the fourth quarter. Construction activities included work on the secondary crushing circuit, ball mill civil and structural work, and an electrostatic precipitator for the roaster. During the question-and-answer session, management said Syama could still meet its guidance range if conditions remain stable. Eger said the company needs continued access to explosives, equipment and development activity to support increased grades and throughput. Resolute is also building a bulk explosives manufacturing plant at Syama, which it expects to have operating toward the end of the third quarter or early in the fourth quarter. Mako Meets Expectations; Life Extension Work Advances At the Mako mine in Senegal, Resolute produced 15,311 ounces of gold in the second quarter at all-in sustaining costs of $1,538 per ounce. First-half all-in sustaining costs were $1,605 per ounce, at the lower end of the company’s guidance range, despite higher fuel prices and royalties associated with the higher gold-price environment. Harris said Mako’s production remains on track to meet annual production and cost guidance, although stockpile variability was observed during the first half. The company also continued advancing the Mako Life Extension Project, which could extend the mine’s life by up to seven years through development of the Tomboronkoto and Bantako satellite deposits, located about 20 kilometers from the existing operation. During the quarter, Resolute progressed technical studies and permitting. Environmental and social impact assessments for the deposits have been pre-validated by Senegalese government technical services and are proceeding to public hearings. The company plans to submit an exploitation permit application for Tomboronkoto, complete further permitting steps for Bantako and advance village-relocation studies at Tomboronkoto. Doropo Construction and ABC Exploration E...