OREMAVEN
XMM 7,722.00 -2.63% YTD +5.6% OM ASX 450.55 -2.56% YTD +0.1% OM PRECIOUS 349.20 -2.24% YTD +2.5% OM EX-PREC 418.91 -2.72% YTD -1.1% XAU 4,115.59 +2.31% YTD -4.9% GLD 375.49 +0.81% YTD -5.2% GDX 85.75 +1.37% YTD -0.0% SIL 77.33 -1.00% YTD -7.3% COPX 70.23 -5.81% YTD -1.8% URNM 40.07 -2.79% YTD -27.0%
2026-11-06
◂ Monitor RSG ASX

RESOLUTE MINING LIMITED

Producer · Gold · Mali · Senegal · Côte d’Ivoire · Guinea Rating locked: sign in to view v8 · rsg-20261024t204646-full
Last 2026-11-06
A$1.22
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$2.6B
EV
A$2.3B
Cash
A$252.9M
Debt
A$23.3M
2 newer ASX announcements not yet reflected in this valuation

Funding, performance and ownership

Financials & Capital

As of 2026-06-30
Cash A$252.9M Not Meaningful
Debt A$23.3M Net cash A$229.6M
Basic shares 2.1B 2026-02-27
Runway Not Meaningful Producer cash generation and major construction cash uses require a staged funding analysis; a constant quarterly burn runway would conceal operating and construction timing.

Liquidity

Financial position

Reported 30 June USD: cash173.7m, fixed deposits112.4m, restricted cash3.5m, bullion47.3m, external debt16.0m, leases8.1m, current tax44.9m, acquisition consideration PV141.3m. Cash in this ledger is cash only; deposits and bullion are separately reconciled in valuation. July155m committed facilities are not June cash; targeted extra105m has no assumed commitment. Valuation separately estimates elapsed cash, minority access, dated claims and monthly funding through closure.

Inventory composition1

Native USD: US$47.3m bullion value (11,743oz) at US$4,026.05/oz. Receivables US$68.8m are mainly taxes and are not cash; ordinary ore, consumables and in-circuit inventory are operating inputs and not separately added to equity NAV. A$ comparison amounts converted at balance-date USD/AUD 0.6869.

Bullion excluded from reported cash
A$34.8M carrying · 11,743 oz Au

Capital structure

Ownership and dilution

Ordinary shares
2.1B
Fully diluted
2.2B

Exact 27 February 2026 disclosed ordinary shares 2,137,417,613 plus 18,695,405 rights equals 2,156,113,018 fully diluted shares. Jan 8 quotation added 7,721,600 rights conversions; September deck rounded 2,137m ordinary and 2,156m diluted is consistent. ASX 2026 index checked through cutoff: no later valuation-material share issue identified.

Security classes2
ClassTypeQuantityStrikeExpiry
Listed ordinary sharesOrdinary Share2.1B——
Unvested performance rights; fully included without cash exercise proceedsPerformance Right18.7M——

KPI history

Operating metrics · Mako stockpile operation

production shown
04,4248,84913,27317,697Q1 2026: 15,801 oz AuQ1 2026Q2 2026: 15,311 oz AuQ2 2026
MetricUnitTrendQ1 2026Q2 2026
productionoz AuQ1 2026: 15,801 oz AuQ2 2026: 15,311 oz Au15,80115,311
aiscUSD/oz AuQ1 2026: 1,669 USD/oz AuQ2 2026: 1,538 USD/oz Au1,6691,538

KPI history

Operating metrics · Syama (SOMISY)

production shown
012,26524,52936,79449,058Q1 2026: 43,802 oz AuQ1 2026Q2 2026: 29,881 oz AuQ2 2026
MetricUnitTrendQ1 2026Q2 2026
productionoz AuQ1 2026: 43,802 oz AuQ2 2026: 29,881 oz Au43,80229,881
aiscUSD/oz AuQ1 2026: 2,227 USD/oz AuQ2 2026: 2,654 USD/oz Au2,2272,654
Operating metric source table18
MetricProjectPeriodPeriod typeValueStatus
productionSyamaFY2025Year176,341 oz AuReported
aiscSyamaFY2025Year2,008 USD/oz AuReported
productionSyamaQ1 2026Quarter43,802 oz AuReported
aiscSyamaQ1 2026Quarter2,227 USD/oz AuReported
productionSyamaQ2 2026Quarter29,881 oz AuReported
aiscSyamaQ2 2026Quarter2,654 USD/oz AuReported
productionMakoFY2025Year100,895 oz AuReported
aiscMakoFY2025Year1,269 USD/oz AuReported
productionMakoQ1 2026Quarter15,801 oz AuReported
aiscMakoQ1 2026Quarter1,669 USD/oz AuReported
productionMakoQ2 2026Quarter15,311 oz AuReported
aiscMakoQ2 2026Quarter1,538 USD/oz AuReported
cashCompanyFY2025Point In Time62,600,000 USDReported
debtCompanyFY2025Point In Time57,900,000 USDSource Derived
cashCompanyH1 2026Point In Time173,700,000 USDReported
debtCompanyH1 2026Point In Time16,000,000 USDSource Derived
revenueCompanyH1 2026Half Year584,700,000 USDReported
ebitdaCompanyH1 2026Half Year323,900,000 USDReported
Company guidance7
MetricProjectPeriodLowHighStatus
ProductionCompanyFY2026205,000225,000 oz AuCurrent
AISCCompanyFY20262,2502,350 USD/oz AuCurrent
ProductionsyamaFY2026150,000160,000 oz AuCurrent
AISCsyamaFY20262,3002,400 USD/oz AuCurrent
ProductionmakoFY202655,00065,000 oz AuCurrent
AISCmakoFY20261,6001,800 USD/oz AuCurrent
ProductionCompanyFY2026250,000275,000 oz AuSuperseded

Capital history

Capital events

1 events · newest first
DateEventAmountSharesPriceStatusTerms
2026-08-20DebtUS$155M——Announced—

Contracts and ownership

Material economic arrangements These are deals that can affect sales, costs, funding or ownership. An arrangement marked “Included in valuation” may already be built into a project estimate or the bridge to shareholder value. A separate amount is shown only when one can be estimated; do not add it again.

Complete As Disclosed · as of 2026-10-13

Reviewed annual and half-year legal ownership, royalty, acquisition and financing notes plus latest September development/JV presentation. No gold collars or active commodity hedges identified; sales reported at spot. Undisclosed JV economics remain named limitations.

Reported economic group-share ownership; state participation applied once to project values. Additional private partner/permit conditions are explicitly retained for MLEP and regional projects.

Joint Venture · Active
Counterparties
Government of Mali
Applies to
Syama (SOMISY) · Gold
Economic direction
Mixed
Period
Dates not stated
Key terms
Group economic interest: 80 %
How it affects our valuation

No valuation treatment is available for this arrangement.

Reported economic group-share ownership; state participation applied once to project values. Additional private partner/permit conditions are explicitly retained for MLEP and regional projects.

Joint Venture · Active
Counterparties
Government of Mali
Applies to
Tabakoroni (SOMIFI/Finkolo) · Gold
Economic direction
Mixed
Period
Dates not stated
Key terms
Group economic interest: 90 %
How it affects our valuation

No valuation treatment is available for this arrangement.

Reported economic group-share ownership; state participation applied once to project values. Additional private partner/permit conditions are explicitly retained for MLEP and regional projects.

Joint Venture · Active
Counterparties
Government of Senegal
Applies to
Mako stockpile operation · Tomboronkoto · Bantaco · Gold
Economic direction
Mixed
Period
Dates not stated
Key terms
Group economic interest: 90 %
How it affects our valuation

No valuation treatment is available for this arrangement.

Reported economic group-share ownership; state participation applied once to project values. Additional private partner/permit conditions are explicitly retained for MLEP and regional projects.

Joint Venture · Active
Counterparties
Government of Côte d’Ivoire
Applies to
Doropo · ABC (Kona Central and South) · Gold
Economic direction
Mixed
Period
Dates not stated
Key terms
Group economic interest: 90 %
How it affects our valuation

No valuation treatment is available for this arrangement.

Sliding government royalty plus3.75% fixed funds; priority dividend and internal loan restructuring unresolved at cutoff.159.9m protocol payment paid in2024. Current subsidiary holdings80% SOMISY/90% SOMIFI remain disclosed; incremental priority claim is tested separately from ownership.

Other · Active
Counterparties
Government of Mali
Applies to
Syama (SOMISY) · Tabakoroni (SOMIFI/Finkolo) · Gold
Economic direction
Burden
Period
Dates not stated
Key terms
Fixed quarterly fund contributions: 3.75 %
How it affects our valuation

No valuation treatment is available for this arrangement.

Parent cash royalty US$5 per Resolute-attributable ounce after the first1m and through the next3m attributable ounces,total4m. Disclosed31December2025cumulative2,198,245 attributable ounces plus the frozen elapsed-production bridge reduce the remaining tier. No second80%ownership multiplication and no automatic SOMISY income-tax deduction.

Royalty · Active
Counterparties
Barrick Gold Corporation
Applies to
Syama (SOMISY) · Gold
Economic direction
Burden
Period
Dates not stated
Key terms
Current royalty: 5 USD/attributable oz Au
How it affects our valuation

No valuation treatment is available for this arrangement.

Acquisition closed1 May2025:25m upfront already paid;50m due18months and75m due30months. Guinea fallback25m long-stop extended to30April2027. June141.3m accounting PV is a source check; valuation uses nominal dated payments instead, once.

Other · Active
Counterparties
AngloGold Ashanti
Applies to
Doropo · ABC (Kona Central and South) · Mansala and conditional Guinea exploration interests · Gold
Economic direction
Burden
Period
Dates not stated
How it affects our valuation

No valuation treatment is available for this arrangement.

155m local-bank facilities secured, rates6.5-7.4%; another105m targeted. Individual maturity, draw conditions and exact undrawn availability not disclosed. Funding assumptions and no-facility alternative are explicit in valuation.

Other · Active
Counterparties
Bank of Africa · AFG · NSIA Banque · Bridge Bank
Applies to
Doropo · Gold
Economic direction
Mixed
Period
Dates not stated
How it affects our valuation

No valuation treatment is available for this arrangement.

Tomboronkoto and Bantaco third-party tenure and local-partner arrangements remain incompletely quantified. Reported90% group-share inventory is not proof of completed private earn-in. Valuation separately tests60-100% parent economic rights before10% state participation and full parent development funding.

Joint Venture · Active
Counterparties
Ardimines · SNEPAC
Applies to
Tomboronkoto · Bantaco · Gold
Economic direction
Mixed
Period
Dates not stated
How it affects our valuation

No valuation treatment is available for this arrangement.

Articles for Landaya Gold with Nimba were signed August 2026; participating interests and funding terms not disclosed. No incremental value.

Strategic Partnership · Active
Counterparties
Nimba Mining Company
Applies to
Mansala and conditional Guinea exploration interests · Gold
Economic direction
Mixed
Period
Dates not stated
How it affects our valuation

No valuation treatment is available for this arrangement.

53.9m VFPN repayment receivedJune2026, already inside closing cash. Remaining upside note depends on EMR exit/liquidity multiples; no amount assumed in valuation.

Other · Active
Counterparties
EMR Capital
Applies to
Company-wide · Gold
Economic direction
Benefit
Period
Dates not stated
How it affects our valuation

No valuation treatment is available for this arrangement.

Multistage earn-in up to100% before state participation; exact earned legal interest, funding and remaining consideration unavailable. No mine schedule or incremental project value assigned.

Earn In · Active
Counterparties
Jofema Mineral Resources · JOFEMA Holdings Limited
Applies to
La Debo · Gold
Economic direction
Mixed
Period
Dates not stated
Key terms
Maximum earn-in before state participation: 100 %
How it affects our valuation

No valuation treatment is available for this arrangement.