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- Last 2026-11-06
- A$1.22
- 1D
- —
- 1M
- —
- YTD
- —
- 1Y
- —
- Fair value
- Locked: sign in to view
- 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
- Q3 2026 Quarterly PresentationLatest Four Activities Reports
- Q3 2026 Activities ReportLatest Four Activities Reports
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Sign in or enter a guest codeAnnouncements
Latest 12 of 18All sources ▸- Gold Forum Americas PresentationPresentation
- Syama Operational UpdateGuidance
- Corporate PresentationPresentation
- Half Year Financial Results and AccountsResults
- Half Year Financial Results SummaryResults
- June 2026 Quarterly Activities ReportResults
- ABC Scoping RetractionStudy
- March 2026 Quarterly PresentationPresentation
- March 2026 Quarterly Activities ReportResults
- 2025 Annual ReportResults
- Ore Reserves and Mineral Resource StatementResource Update
- Appendix 4E Preliminary Final ReportResults
Event calendar · next 12 months
7 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| Remaining H2 2026 programme | Mako life-extension permitting and RAP | Permitting | Company Guided | High | Permit, ESIA and resettlement gates determine the 2028 feed gap rather than resource ounces alone. |
| Remainder of Q4 2026 | Syama Q4 recovery and SSCP ramp-up | Production | Company Guided | High | Issuer forecasts 45-50koz Q4 and mine recovery; test output/costs against the revised guide. |
| 18 months after 1 May 2025 completion | Doropo acquisition US$50m payment | Transaction | Inferred | High | Deferred payment competes with construction liquidity; exact anniversary inferred from disclosed term. |
| November 2026 target | Syama onsite emulsion plant commissioning | Construction Or Commissioning | Company Guided | High | Removes an explosive bottleneck only if mining tonnes and gold recover; source date is a window, not a confirmed day. |
| Q1 2027 target | Doropo Kilosegui drilling results | Exploration | Company Guided | High | Potential reserve/plant optimisation; do not assign value before quantified results and study. |
| 30 April 2027 long-stop | Guinea acquisition permit-transfer long-stop | Permitting | Confirmed | High | Permit transfer could avoid fallback US$25m cash obligation already included in consideration provision. |
| No confirmed completion by cutoff | Remaining local-bank facilities confirmation | Financing | Company Guided | High | Latest PDF still targets US$105m after end-Q3 expectation; only executed terms should change funding treatment. |
Executive roster
As of 2026-10-13Background checks ▸Annual report executive roster plus August reviewed accounts with Kim Clear appointed 20 July 2026. Appointment day for older month-only announcements is approximate and not relied upon.
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| Chris Eger | Managing Director · Chief Executive Officer | Chief Executive · Executive Director | 2025-02-01 | 2025 Annual Report · Half Year Financial Results and Accounts |
| Gavin Harris | Chief Operating Officer | Operations | 2025-07-01 | 2025 Annual Report · Half Year Financial Results and Accounts |
| Dave Jackson | Chief Financial Officer | Finance | 2025-02-01 | 2025 Annual Report · Half Year Financial Results and Accounts |
| Bruce Mowat | Executive General Manager Exploration | Technical | — | 2025 Annual Report · Half Year Financial Results and Accounts |
| Bianca Déprés | General Counsel | Commercial | 2025-03-01 | 2025 Annual Report · Half Year Financial Results and Accounts |
| Sam Wright | Joint Company Secretary | Company Secretary | 2024-01-01 | 2025 Annual Report · Half Year Financial Results and Accounts |
| Thomas May | Joint Company Secretary | Company Secretary | 2024-09-01 | 2025 Annual Report · Half Year Financial Results and Accounts |
| Kim Clear | Joint Company Secretary | Company Secretary | 2026-07-20 | Half Year Financial Results and Accounts |
devCoverage status: Complete As Disclosed
Portfolio detail
Assets
Core asset
Syama (SOMISY)
Mali
Producer80% ownedGold
Production from existing plant and finite reserve inventory.
- Production annualised (attributable)
- 95.6k ozd
- Production (last FY, 100%)
- 176.3k oz
- AISC (latest quarter)
- A$3,739/ozd
- AISC margin at spot
- 36.2%m
- Delivery vs guidance
- —
- Reserve life
- 17.5 yrsd
- Head grade
- 1.54 g/td
Resources & reserves2
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | total, inclusive of reserves | 101.3M t | 2.4836 g/t Au | Gold | 2025-12-31 |
| Ore Reserve | proved and probable | 44.3M t | 2.1638 g/t Au | Gold | 2025-12-31 |
Material
Tabakoroni (SOMIFI/Finkolo)
Mali
Resource Stage90% ownedGold
Resource option; no bankable mine schedule adopted.
- Contained metal (attributable)
- 912.6k ozd
- Resource grade
- 4.10 g/t
- % Measured + Indicated
- 82%d
- Resource tonnes
- 7.64 Mt
- Our value per attrib. contained unit
- Locked
- Mining method
- —
Resources & reserves2
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | total, inclusive of reserves | 7.6M t | 4.1000 g/t Au | Gold | 2025-12-31 |
| Ore Reserve | proved and probable | 5.8M t | 4.3000 g/t Au | Gold | 2025-12-31 |
Core asset
Mako stockpile operation
Senegal
Producer90% ownedGold
Production from existing plant and finite reserve inventory.
- Production annualised (attributable)
- 55.1k ozd
- Production (last FY, 100%)
- 100.9k oz
- AISC (latest quarter)
- A$2,167/ozd
- AISC margin at spot
- 63.0%m
- Delivery vs guidance
- —
- Reserve life
- 1.2 yrsd
- Head grade
- 0.83 g/t
Resources & reserves2
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | total, inclusive of reserves | 6.2M t | 1.1060 g/t Au | Gold | 2025-12-31 |
| Ore Reserve | proved and probable | 3.9M t | 0.9000 g/t Au | Gold | 2025-12-31 |
Material
Tomboronkoto
Senegal
Resource Stage90% ownedGold
Resource option; no bankable mine schedule adopted. Legal exploration permit remains held by Ardimines SARL. 90% is issuer resource group-share convention after government participation, not verification of current private-JV legal equity or an earned100% interest.
- Contained metal (attributable)
- 399.6k ozd
- Resource grade
- 1.30 g/t
- % Measured + Indicated
- 88.5%d
- Resource tonnes
- 10.47 Mt
- Our value per attrib. contained unit
- Locked
- Mining method
- —
Resources & reserves2
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | total, inclusive of reserves | 10.5M t | 1.3000 g/t Au | Gold | 2025-12-31 |
| Ore Reserve | proved and probable | 9.1M t | 1.2000 g/t Au | Gold | 2025-12-31 |
Permits & approvals1
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Mining permit and resettlement/ESIA gate | Senegal | Pending | — | Yes |
Material
Bantaco
Senegal
Resource Stage90% ownedGold
Resource option; no bankable mine schedule adopted. Legal exploration permit remains held by SNEPAC SARL. 90% is issuer resource group-share convention after government participation, not verification of current private-JV legal equity or an earned100% interest.
- Contained metal (attributable)
- 328.5k ozd
- Resource grade
- 1.00 g/t
- % Measured + Indicated
- 54.2%d
- Resource tonnes
- 11.02 Mt
- Our value per attrib. contained unit
- Locked
- Mining method
- —
Resources & reserves1
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | total, inclusive of reserves | 11M t | 1.0000 g/t Au | Gold | 2025-12-31 |
Permits & approvals1
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Mining permit and resettlement/ESIA gate | Senegal | Pending | — | Yes |
Core asset
Doropo
Côte d’Ivoire
Construction90% ownedGold
Construction following FID; full targeted debt package not yet evidenced.
- Study
- DFS
- Post-tax NPV (study prices, attributable)
- A$3.3bd
- NPV restated at our deck (attributable)
- Locked
- IRR
- 72%
- Initial capex (100%)
- A$739.4md
- Capital intensity
- A$4,375/(oz/year/yr)d
- LoM AISC
- A$2,109/ozd
- Mine life
- 13.0 yrss
Published study economicsIssuer or study metrics
NPVUS$2.5B5% discount
IRR72%Published return
Initial capexUS$516MPublished capital estimate
Operating cost1,472USD/oz Au
100% gross post-tax NPV5 at US$4000/oz; initial capital embedded in study NPV, not deducted a second time. Resource economics do not include corporate acquisition consideration.
Resources & reserves2
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | total, inclusive of reserves | 114.2M t | 1.2000 g/t Au | Gold | 2025-12-31 |
| Ore Reserve | proved and probable | 59.1M t | 1.3000 g/t Au | Gold | 2025-12-31 |
Milestones1
- First gold, H2 2028 guidance
Pending · High materiality
Permits & approvals1
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Doropo mining permit | Côte d’Ivoire | Granted | — | Yes |
Economic studies1
| Study | Stage | Status | Date | Summary |
|---|---|---|---|---|
| Updated Doropo DFS | Updated Feasibility | Reaffirmed | 2025-12-15 | 13-year reserve-supported open-pit/CIL study; December base US$3000 gold and September published US$4000 sensitivity. First gold now H2 2028. |
Material
ABC (Kona Central and South)
Côte d’Ivoire
Resource Stage90% ownedGold
Resource option; no bankable mine schedule adopted.
- Contained metal (attributable)
- 2.7m ozd
- Resource grade
- 0.71 g/t
- % Measured + Indicated
- 0%d
- Resource tonnes
- 132.70 Mt
- Our value per attrib. contained unit
- Locked
- Mining method
- —
Resources & reserves1
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | total, inclusive of reserves | 132.7M t | 0.7100 g/t Au | Gold | 2026-07-22 |
Other
La Debo
Côte d’Ivoire
Resource Stage90% ownedGold
Resource option; no bankable mine schedule adopted. Legal exploration permit remains held by Jofema Mineral Resources. 90% is issuer resource group-share convention after government participation, not verification of current private-JV legal equity or an earned100% interest.
- Contained metal (attributable)
- 578.7k ozd
- Resource grade
- 1.10 g/t
- % Measured + Indicated
- 0%d
- Resource tonnes
- 17.56 Mt
- Our value per attrib. contained unit
- Locked
- Mining method
- —
Resources & reserves1
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | total, inclusive of reserves | 17.6M t | 1.1000 g/t Au | Gold | 2025-12-31 |
Other
Mansala and conditional Guinea exploration interests
Guinea
Resource Stage100% ownedGold
Mansala resource disclosed, but acquisition permit transfers and new Landaya JV terms remain conditional; no speculative cash-flow value.
- Contained metal (attributable)
- 343.0k ozd
- Resource grade
- 1.60 g/t
- % Measured + Indicated
- 0%d
- Resource tonnes
- 6.62 Mt
- Our value per attrib. contained unit
- Locked
- Mining method
- —
Resources & reserves1
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | total, inclusive of reserves | 6.6M t | 1.6000 g/t Au | Gold | 2025-12-31 |
d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)
Funding, performance and ownership
Financials & Capital
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
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| Listed ordinary shares | Ordinary Share | 2.1B | — | — |
| Unvested performance rights; fully included without cash exercise proceeds | Performance Right | 18.7M | — | — |
KPI history
Operating metrics · Mako stockpile operation
| Metric | Unit | Trend | Q1 2026 | Q2 2026 |
|---|---|---|---|---|
| production | oz Au | 15,801 | 15,311 | |
| aisc | USD/oz Au | 1,669 | 1,538 |
KPI history
Operating metrics · Syama (SOMISY)
| Metric | Unit | Trend | Q1 2026 | Q2 2026 |
|---|---|---|---|---|
| production | oz Au | 43,802 | 29,881 | |
| aisc | USD/oz Au | 2,227 | 2,654 |
Operating metric source table18
| Metric | Project | Period | Period type | Value | Status |
|---|---|---|---|---|---|
| production | Syama | FY2025 | Year | 176,341 oz Au | Reported |
| aisc | Syama | FY2025 | Year | 2,008 USD/oz Au | Reported |
| production | Syama | Q1 2026 | Quarter | 43,802 oz Au | Reported |
| aisc | Syama | Q1 2026 | Quarter | 2,227 USD/oz Au | Reported |
| production | Syama | Q2 2026 | Quarter | 29,881 oz Au | Reported |
| aisc | Syama | Q2 2026 | Quarter | 2,654 USD/oz Au | Reported |
| production | Mako | FY2025 | Year | 100,895 oz Au | Reported |
| aisc | Mako | FY2025 | Year | 1,269 USD/oz Au | Reported |
| production | Mako | Q1 2026 | Quarter | 15,801 oz Au | Reported |
| aisc | Mako | Q1 2026 | Quarter | 1,669 USD/oz Au | Reported |
| production | Mako | Q2 2026 | Quarter | 15,311 oz Au | Reported |
| aisc | Mako | Q2 2026 | Quarter | 1,538 USD/oz Au | Reported |
| cash | Company | FY2025 | Point In Time | 62,600,000 USD | Reported |
| debt | Company | FY2025 | Point In Time | 57,900,000 USD | Source Derived |
| cash | Company | H1 2026 | Point In Time | 173,700,000 USD | Reported |
| debt | Company | H1 2026 | Point In Time | 16,000,000 USD | Source Derived |
| revenue | Company | H1 2026 | Half Year | 584,700,000 USD | Reported |
| ebitda | Company | H1 2026 | Half Year | 323,900,000 USD | Reported |
Company guidance7
| Metric | Project | Period | Low | High | Status |
|---|---|---|---|---|---|
| Production | Company | FY2026 | 205,000 | 225,000 oz Au | Current |
| AISC | Company | FY2026 | 2,250 | 2,350 USD/oz Au | Current |
| Production | syama | FY2026 | 150,000 | 160,000 oz Au | Current |
| AISC | syama | FY2026 | 2,300 | 2,400 USD/oz Au | Current |
| Production | mako | FY2026 | 55,000 | 65,000 oz Au | Current |
| AISC | mako | FY2026 | 1,600 | 1,800 USD/oz Au | Current |
| Production | Company | FY2026 | 250,000 | 275,000 oz Au | Superseded |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2026-08-20 | Debt | US$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.
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.
Intrinsic value
Valuation
Valuation
Bear, base and bull values, investment cases, project valuations and the equity bridge are available to subscribers.
Sign in or enter a guest codeResource-price transmission
Sensitivity lab
Sensitivity lab
How our fair value responds to commodity prices and other drivers is available to subscribers.
Sign in or enter a guest codePeople, delivery and responsibility
Management background checks
The company’s team has gold-mining operations and finance experience, but Syama production and safety setbacks, management-date inconsistencies and limited independent evidence constrain the assessment.
Decision-relevant facts
Material summary
Chris Eger
Managing Director and Chief Executive Officer
FailureIssuer Reported · High materiality
Syama production below plan
Resolute cut its 2026 Syama production outlook to 150,000–160,000 ounces in September after supply, mining and processing disruptions. Its September-quarter report recorded 31,777 ounces at Syama; full-year guidance remains an estimate.
Role overlaps event; causation unproven · Eger was CEO; security, supply and operating conditions and the wider team affected the outcome, and personal fault is not established.
Syama operational update · Syama production outlook
September 2026 quarterly activities report · Q3 production and cost table
FailureDocumented · Medium materiality
Nyrstar project delays and later restructuring
Nyrstar reported in 2017 that component rework delayed the Port Pirie redevelopment’s hot commissioning. Its later restructuring explanation cited accumulated investment, asset impairments and worsening markets.
Role overlaps event; causation unproven · Eger was CFO during the 2017 delay and departed in 2018; the later restructuring happened after his announced exit. His personal responsibility is not established.
Nyrstar 2017 annual report · printed p. 12 Port Pirie redevelopment
Nyrstar first-quarter 2018 management statement · p. 2 planned CFO transition
Restructuring frequently asked questions · Q4, restructuring factors
GovernanceDocumented · Medium materiality
Mali detention and settlement
Malian authorities detained then-CEO Terry Holohan and two employees on 8 November 2024 amid a dispute. Resolute says all three were released on 21 November and the US$160 million settlement was paid in full, with the final instalment on 31 December 2024. The company said the protocol settled outstanding government claims preceding 31 December 2023, while discussions continued over its implementation.
Role overlaps event; causation unproven · Eger was CFO during the dispute. The available sources do not identify him as detained or establish individual misconduct; the settlement is a company outcome.
Resolute Mining to pay Mali government to settle dispute · Independent account of detention and settlement
Senior management change and Mali update · p. 1 settlement payment and interim appointments
Q4 2024 and full-year 2024 activities report · Printed pp. 5–6, Mali Overview; pp. 14–15, settlement cash flows
Evidence gaps · 4
- Independent educational and professional credential checks were not obtained.
- The broad web search is not comprehensive; named-employer and person-specific fraud, safety, environmental, legal and governance checks remain incomplete.
- Issuer biographies do not establish all earlier role dates or individual contributions to company-wide outcomes.
- Nyrstar’s restructuring followed his announced 2018 exit; no individual cause has been established. Original Mali tax claims and assessment were not independently reviewed.
Gavin Harris
Chief Operating Officer
Company SuccessIssuer Reported · Medium materiality
Sukari operating experience
The company credited Harris with contributing to Sukari’s 2024 output of approximately 481,000 ounces and projects during his general-manager tenure. AngloGold’s technical report confirms his site roles and responsibilities.
Role overlaps event; causation unproven · Resolute attributes a contribution to him, but output and safety performance reflect the wider site team and circumstances.
Management changes · p. 1 Sukari experience and 2024 outcome
Sukari mine technical report · p. 22 site responsibilities
SafetyIssuer Reported · High materiality
Increase in Syama lost-time injuries
Resolute reported that Syama lost-time injuries increased from one in 2024 to nine in 2025; it reported no fatalities at the group in 2025 and described remedial safety initiatives.
Role overlaps event; causation unproven · Harris became COO on 1 July 2025; full-year results include six months before his appointment and no individual fault is established.
2025 Sustainability Report · printed pp. 48–49 safety performance table and response
Management changes · p. 1 effective date
FailureIssuer Reported · Medium materiality
Syama operational disruption
The September 2026 update reduced expected 2026 Syama output after mining, supply and processing disruptions; the group’s Q3 report recorded 44,398 ounces from both mines.
Role overlaps event; causation unproven · Harris was COO; outcomes reflect site teams and supply and security conditions, without evidence of personal causation.
Syama operational update · Production outlook and operating constraints
September 2026 quarterly activities report · Q3 production table
Evidence gaps · 4
- Independent educational and professional credential checks were not obtained.
- The broad web search is not comprehensive; named-employer and person-specific fraud, safety, environmental, legal and governance checks remain incomplete.
- Issuer biographies do not establish all earlier role dates or individual contributions to company-wide outcomes.
- The actual status and investigation outcomes of individual site incidents remain unverified, and the 2025 safety numbers cover pre- and post-appointment periods.
Dave Jackson
Chief Financial Officer
Company SuccessIssuer Reported · Medium materiality
Higher cash flow alongside lower production
Resolute reported H1 2026 operating cash flow of US$277.6 million versus US$111.3 million in H1 2025, while gold poured fell to 104,795 ounces from 151,460 ounces; the average realised gold price also increased substantially.
Role overlaps event; causation unproven · Jackson was CFO; the result reflects price, operations and the wider finance team, not an isolated individual contribution.
2026 half-year financial results and accounts · Operational and financial highlights
Evidence gaps · 3
- Independent educational and professional credential checks were not obtained.
- The broad web search is not comprehensive; named-employer and person-specific fraud, safety, environmental, legal and governance checks remain incomplete.
- Issuer biographies do not establish all earlier role dates or individual contributions to company-wide outcomes.
Bruce Mowat
Executive General Manager Exploration
Personal SuccessIssuer Reported · Medium materiality
Signed exploration disclosure
The September 2026 quarterly report identifies Mowat as the competent person compiling exploration results and records his consent to their inclusion.
Individual involvement documented · The issuer directly identifies him in that disclosure; the statement does not establish sole responsibility for discoveries.
September 2026 quarterly activities report · Competent Persons Statement, Bruce Mowat
Evidence gaps · 3
- Independent educational and professional credential checks were not obtained.
- The broad web search is not comprehensive; named-employer and person-specific fraud, safety, environmental, legal and governance checks remain incomplete.
- Issuer biographies do not establish all earlier role dates or individual contributions to company-wide outcomes.
Bianca Déprés
General Counsel
GovernanceDocumented · Medium materiality
Conflicting general-counsel dates
The 2025 annual report’s leadership team page describes a March 2025 appointment, while its detailed biography and the undated issuer profile state January 2025. The detailed biography says she joined Resolute in 2023 while the website says 2022.
Responsibility unresolved · Issuer sources conflict; the actual effective date and prior start year are not independently established.
2025 Annual Report · PDF pp. 10 and 13, visually inspected
Bianca Déprés professional profile · General Counsel profile
Evidence gaps · 4
- Independent educational and professional credential checks were not obtained.
- The broad web search is not comprehensive; named-employer and person-specific fraud, safety, environmental, legal and governance checks remain incomplete.
- Issuer biographies do not establish all earlier role dates or individual contributions to company-wide outcomes.
- The general-counsel appointment is reported as January and March 2025, and her company start year as 2022 and 2023, in conflicting issuer sources.
Sam Wright
Joint Company Secretary
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 3
- Independent educational and professional credential checks were not obtained.
- The broad web search is not comprehensive; named-employer and person-specific fraud, safety, environmental, legal and governance checks remain incomplete.
- Issuer biographies do not establish all earlier role dates or individual contributions to company-wide outcomes.
Thomas May
Joint Company Secretary
GovernanceDocumented · Medium materiality
Conflicting company-secretary appointment dates
Resolute announced May’s appointment effective immediately on 23 October 2024, but its 2025 annual report’s biography says September 2024.
Responsibility unresolved · The dated appointment announcement is more precise, but the inconsistency remains unresolved.
Appointment of Joint Company Secretary · p. 1, appointment effective immediately
2025 Annual Report · PDF p. 13, biography visually inspected
Evidence gaps · 4
- Independent educational and professional credential checks were not obtained.
- The broad web search is not comprehensive; named-employer and person-specific fraud, safety, environmental, legal and governance checks remain incomplete.
- Issuer biographies do not establish all earlier role dates or individual contributions to company-wide outcomes.
- The annual report says September 2024, whereas the dated 23 October announcement says effective immediately; the difference remains unresolved.
Kim Clear
Joint Company Secretary
GovernanceIssuer Reported · Medium materiality
Joint company secretary appointment
Resolute’s 2026 half-year report names Kim Clear as joint company secretary and dates her appointment to 20 July 2026.
Individual involvement documented · The issuer identifies the individual and role; earlier career and credentials were not established.
2026 half-year financial results and accounts · Corporate information, company secretaries
Evidence gaps · 4
- Independent educational and professional credential checks were not obtained.
- The broad web search is not comprehensive; named-employer and person-specific fraud, safety, environmental, legal and governance checks remain incomplete.
- Issuer biographies do not establish all earlier role dates or individual contributions to company-wide outcomes.
- Before joining Resolute, career history and professional qualifications were not established from an opened source.
Company ownership
Investors & shareholders
Registered shareholder list unavailable
The available disclosures below do not provide a complete ranked register.
Disclosed substantial holders
Latest reviewed disclosure for each holder or reporting group
| Investor / reported group | Disclosed holding | Holding at |
|---|---|---|
| 19.48%Voting power | 2026-10-06 |
Sources & review notesEvidence checked through 2026-10-31
Coverage and limitations
- The annual report lists twenty holders by investor or manager name, without establishing these as registered accounts. The dashboard register is withheld instead of relabelling those groups as legal registered holders.
- Other substantial-holder notices and the manager-level twenty-largest-holder list have not been fully reconciled; this view is partial.
- BlackRock’s 22 October notice reports cessation on 20 October; the earlier 19 October position is not presented as current and cessation does not establish zero shares.
- Helikon’s 19.477% includes voting rights attached to shares only; its reported additional cash-settled swaps are explicitly excluded. Group interests can overlap custodians or managed funds.
Sources
- Change in substantial holdings — TR-1 notification
Resolute Mining Limited via London Stock Exchange RNS, reproduced by Investegate · Published 2026-10-12 · Accessed 2026-10-31
Helikon reports 19.477% voting rights attached to 416,305,216 shares as at 6 October 2026; derivative component separate.
Sections 5, 7 and 8A
- BlackRock ceasing to be a substantial holder
BlackRock Group via ASX · Published 2026-10-22 · Accessed 2026-10-31
BlackRock ceased substantial-holder status on 20 October 2026; cessation does not mean no holding.
downloads/RSG/2026/2026-10-22_Ceasing to be a substantial holder_fdef8cbaf0e62c8a.pdf, page 1, visually inspected
- 2025 annual report
Resolute Mining Limited via ASX · Published 2026-03-24 · Accessed 2026-10-31
Issuer’s February 2026 twenty-largest-holder list uses investment manager names and does not establish it is a coherent register of registered accounts.
downloads/RSG/2026/2026-03-24_2025 Annual Report_04bdf75ce449fadb.pdf, PDF pages 147–148
Disclosed activity
Insider transactions
Trading activity0 buys · 0 sells shownNet cash last 12 months no tradesShow chartHide chart
On-market buyPlacement / plan subscriptionSaleMarker size = cash valueGrant, exercise, expiry or transferBars: cash bought (up) and sold (down) per month
| Date | Person / account | Activity / security | Quantity | Cash consideration | Price | Holding after |
|---|---|---|---|---|---|---|
| 2026-09-29 | Citibank, N.A. Sydney Branch
Details & evidence for Citibank, N.A. Sydney Branch on 2026-09-29Reported decrease in relevant interest under an agency-lending/securities-lending arrangement; the notice does not identify an executed market sale or a specific account. As disclosed: Citibank, N.A. Sydney Branch: decreased relevant interest by 22,633 Ordinary Fully Paid shares; acting as Agent Lender and as holder subject to an obligation to return under a securities lending agreement.
Citigroup group of companies worldwide · related body corporate in Citigroup group of companies worldwide Ceasing to be a substantial holder ↗ | ContractOrdinary Fully Paid | 22,633 | —Not Disclosed | — | — |
| 2026-09-29 | Citigroup Global Markets Limited
Details & evidence for Citigroup Global Markets Limited on 2026-09-29Reported decrease in relevant interest under a securities-lending agreement; the notice does not identify an executed market sale or a specific account. As disclosed: Citigroup Global Markets Limited: decreased relevant interest by 57,425,436 Ordinary Fully Paid shares pursuant to contracts subject to an obligation to return under a securities lending agreement.
Citigroup group of companies worldwide · related body corporate in Citigroup group of companies worldwide Ceasing to be a substantial holder ↗ | ContractOrdinary Fully Paid | 57,425,436 | —Not Disclosed | — | — |
| 2026-09-29 | Citigroup Global Markets Australia Pty Limited
Details & evidence for Citigroup Global Markets Australia Pty Limited on 2026-09-29Reported increase in relevant interest pursuant to standard-term stock-market contracts. The form does not state an actual cash amount or identify a specific account; recorded as a contract change rather than inferring a cash purchase. As disclosed: Citigroup Global Markets Australia Pty Limited: increased relevant interest by 279,686 Ordinary Fully Paid shares pursuant to ordinary-course stock-market contracts containing only standard terms and conditions.
Citigroup group of companies worldwide · related body corporate in Citigroup group of companies worldwide Ceasing to be a substantial holder ↗ | ContractOrdinary Fully Paid | 279,686 | —Not Disclosed | — | — |
| 2026-09-29 | Citigroup Global Markets Inc
Details & evidence for Citigroup Global Markets Inc on 2026-09-29Reported increase in relevant interest under a securities-lending agreement; the notice does not identify an executed market purchase or a specific account. As disclosed: Citigroup Global Markets Inc: increased relevant interest by 676,945 Ordinary Fully Paid shares pursuant to contracts subject to an obligation to return under a securities lending agreement.
Citigroup group of companies worldwide · related body corporate in Citi group of companies worldwide Ceasing to be a substantial holder ↗ | ContractOrdinary Fully Paid | 676,945 | —Not Disclosed | — | — |
Disclosed holding observations1 dated positions
Initial, final and threshold notices describe positions; these are not counted as purchases or sales.
| Holding at | Person / group | Type / security | Quantity | Percentage |
|---|---|---|---|---|
| 2026-09-25 | Citigroup group of companies worldwide
Details & evidence for Citigroup group of companies worldwide on 2026-09-25Group-level threshold snapshot as disclosed. Section 3 lists affiliate relevant interests of 20,000, 63,833, 3,834,232 and 118,424,745 shares, summing to the reported aggregate; no individual closing position is inferred.
Becoming a substantial holder ↗ | ThresholdOrdinary Fully Paid | 122,342,810 | 5.72%Voting Power |
The closest covered peers
Peer comparison
Peer comparison pending
No peer comparison has been saved for this company.
An on-demand analysis selects up to five closest peers and checks what their differences mean for independent fair value.
Narrative and provenance
Research & Sources
AI Analyst Report
The full analyst report, its figures and the broker-style PDF are available to subscribers and invited guests.
Sign in or enter a guest codeChronological evidenceSource-document inventory23 documents
RSG ASX eligible 13 October closing priceMarket Data · HighExtracted
Local eligible daily ASX ordinary-share close from miners.reference_price; historical cutoff quote, not a live 24 October quote.
- Document ID
- doc-rsg-20261013-price
- Published UTC
- 2026-10-13T05:00:00+00:00
- Projects
- —
- Commodities
- —
Reserve Bank of Australia F11.1 daily exchange ratesMarket Data · HighExtracted
RBA daily F11.1 series: 13-Oct-2026 A$1=US$0.6961. Only observations on/before cutoff used; later rows in download excluded.
- Document ID
- doc-rsg-20261013-rba-fx
- Published UTC
- 2026-10-13T00:00:00+00:00
- Projects
- —
- Commodities
- —
RSG ASX latest eligible daily closeMarket Data · HighExtracted
Primary source retained for factual capital, financial, production, resource, ownership or event reconciliation. Original published date governs evidence eligibility.
- Document ID
- doc-rsg-20261009-price
- Published UTC
- 2026-10-09T00:00:00+00:00
- Projects
- —
- Commodities
- —
Reserve Bank of Australia F11.1 daily exchange ratesMarket Data · HighExtracted
Primary source retained for factual capital, financial, production, resource, ownership or event reconciliation. Original published date governs evidence eligibility.
- Document ID
- doc-rsg-20261009-rba-fx
- Published UTC
- 2026-10-09T00:00:00+00:00
- Projects
- —
- Commodities
- —
Resources and Energy Quarterly September 2026Market Data · HighPartial
Official forecast, published 2 October 2026. Table9.1 separates nominal gold prices from 2026-real USD prices. The latter calibrate the operating deck; forecasts are not observed spot prices.
- Document ID
- doc-rsg-20261002-req
- Published UTC
- 2026-10-02T00:00:00+00:00
- Projects
- —
- Commodities
- gold
Gold Forum Americas PresentationPresentation · HighPartial
Primary source retained for factual capital, financial, production, resource, ownership or event reconciliation. Original published date governs evidence eligibility.
- Document ID
- doc-rsg-20260928-deck
- Published UTC
- 2026-09-27T22:20:19.000Z
- Projects
- syama · tabakoroni · mako · tomboronkoto · bantaco · doropo · abc · ladebo · guinea
- Commodities
- gold
Syama Operational UpdateGuidance · HighPartial
Primary source retained for factual capital, financial, production, resource, ownership or event reconciliation. Original published date governs evidence eligibility.
- Document ID
- doc-rsg-20260921-update
- Published UTC
- 2026-09-20T22:35:54.000Z
- Projects
- syama · tabakoroni · mako · tomboronkoto · bantaco · doropo · abc · ladebo · guinea
- Commodities
- gold
Corporate PresentationPresentation · HighPartial
Primary source retained for factual capital, financial, production, resource, ownership or event reconciliation. Original published date governs evidence eligibility.
- Document ID
- doc-rsg-20260901-deck
- Published UTC
- 2026-09-01T04:00:05.000Z
- Projects
- syama · tabakoroni · mako · tomboronkoto · bantaco · doropo · abc · ladebo · guinea
- Commodities
- gold
Half Year Financial Results and AccountsResults · HighPartial
Primary source retained for factual capital, financial, production, resource, ownership or event reconciliation. Original published date governs evidence eligibility.
- Document ID
- doc-rsg-20260820-accounts
- Published UTC
- 2026-08-19T22:27:52Z
- Projects
- syama · tabakoroni · mako · tomboronkoto · bantaco · doropo · abc · ladebo · guinea
- Commodities
- gold
Half Year Financial Results SummaryResults · HighPartial
Primary source retained for factual capital, financial, production, resource, ownership or event reconciliation. Original published date governs evidence eligibility.
- Document ID
- doc-rsg-20260820-summary
- Published UTC
- 2026-08-19T22:29:02Z
- Projects
- syama · tabakoroni · mako · tomboronkoto · bantaco · doropo · abc · ladebo · guinea
- Commodities
- gold
June 2026 Quarterly Activities ReportResults · HighPartial
Primary source retained for factual capital, financial, production, resource, ownership or event reconciliation. Original published date governs evidence eligibility.
- Document ID
- doc-rsg-20260730-quarter
- Published UTC
- 2026-07-29T22:34:04Z
- Projects
- syama · tabakoroni · mako · tomboronkoto · bantaco · doropo · abc · ladebo · guinea
- Commodities
- gold
ABC Scoping RetractionStudy · HighPartial
Primary source retained for factual capital, financial, production, resource, ownership or event reconciliation. Original published date governs evidence eligibility.
- Document ID
- doc-rsg-20260514-retraction
- Published UTC
- 2026-05-14T09:17:36.000Z
- Projects
- syama · tabakoroni · mako · tomboronkoto · bantaco · doropo · abc · ladebo · guinea
- Commodities
- gold
March 2026 Quarterly PresentationPresentation · HighPartial
Primary source retained for factual capital, financial, production, resource, ownership or event reconciliation. Original published date governs evidence eligibility.
- Document ID
- doc-rsg-20260423-deck
- Published UTC
- 2026-04-22T22:52:47Z
- Projects
- syama · tabakoroni · mako · tomboronkoto · bantaco · doropo · abc · ladebo · guinea
- Commodities
- gold
March 2026 Quarterly Activities ReportResults · HighPartial
Primary source retained for factual capital, financial, production, resource, ownership or event reconciliation. Original published date governs evidence eligibility.
- Document ID
- doc-rsg-20260423-quarter
- Published UTC
- 2026-04-22T22:50:47Z
- Projects
- syama · tabakoroni · mako · tomboronkoto · bantaco · doropo · abc · ladebo · guinea
- Commodities
- gold
2025 Annual ReportResults · HighPartial
Primary source retained for factual capital, financial, production, resource, ownership or event reconciliation. Original published date governs evidence eligibility.
- Document ID
- doc-rsg-20260324-annual
- Published UTC
- 2026-03-23T22:08:10Z
- Projects
- syama · tabakoroni · mako · tomboronkoto · bantaco · doropo · abc · ladebo · guinea
- Commodities
- gold
Ore Reserves and Mineral Resource StatementResource Update · HighPartial
Primary source retained for factual capital, financial, production, resource, ownership or event reconciliation. Original published date governs evidence eligibility.
- Document ID
- doc-rsg-20260305-resource
- Published UTC
- 2026-03-04T21:26:28+00:00
- Projects
- syama · tabakoroni · mako · tomboronkoto · bantaco · doropo · abc · ladebo · guinea
- Commodities
- gold
Appendix 4E Preliminary Final ReportResults · HighPartial
Primary source retained for factual capital, financial, production, resource, ownership or event reconciliation. Original published date governs evidence eligibility.
- Document ID
- doc-rsg-20260227-preliminary
- Published UTC
- 2026-02-27T07:17:40Z
- Projects
- syama · tabakoroni · mako · tomboronkoto · bantaco · doropo · abc · ladebo · guinea
- Commodities
- gold
December 2025 Quarterly PresentationPresentation · HighPartial
Primary source retained for factual capital, financial, production, resource, ownership or event reconciliation. Original published date governs evidence eligibility.
- Document ID
- doc-rsg-20260122-deck
- Published UTC
- 2026-01-21T21:27:25Z
- Projects
- syama · tabakoroni · mako · tomboronkoto · bantaco · doropo · abc · ladebo · guinea
- Commodities
- gold
December 2025 Quarterly Activities ReportResults · HighPartial
Primary source retained for factual capital, financial, production, resource, ownership or event reconciliation. Original published date governs evidence eligibility.
- Document ID
- doc-rsg-20260122-quarter
- Published UTC
- 2026-01-21T21:26:55Z
- Projects
- syama · tabakoroni · mako · tomboronkoto · bantaco · doropo · abc · ladebo · guinea
- Commodities
- gold
Quotation SharesCorporate Action · HighPartial
Primary source retained for factual capital, financial, production, resource, ownership or event reconciliation. Original published date governs evidence eligibility.
- Document ID
- doc-rsg-20260108-shares
- Published UTC
- 2026-01-08T04:20:42.000Z
- Projects
- syama · tabakoroni · mako · tomboronkoto · bantaco · doropo · abc · ladebo · guinea
- Commodities
- gold
September 2025 Quarterly PresentationPresentation · HighPartial
Primary source retained for factual capital, financial, production, resource, ownership or event reconciliation. Original published date governs evidence eligibility.
- Document ID
- doc-rsg-20251028-deck
- Published UTC
- 2025-10-27T21:22:29Z
- Projects
- syama · tabakoroni · mako · tomboronkoto · bantaco · doropo · abc · ladebo · guinea
- Commodities
- gold
September 2025 Quarterly Activities ReportResults · HighPartial
Primary source retained for factual capital, financial, production, resource, ownership or event reconciliation. Original published date governs evidence eligibility.
- Document ID
- doc-rsg-20251028-quarter
- Published UTC
- 2025-10-27T21:21:49Z
- Projects
- syama · tabakoroni · mako · tomboronkoto · bantaco · doropo · abc · ladebo · guinea
- Commodities
- gold
Half Year Financial Results SummaryResults · HighPartial
Primary source retained for factual capital, financial, production, resource, ownership or event reconciliation. Original published date governs evidence eligibility.
- Document ID
- doc-rsg-20250822-summary
- Published UTC
- 2025-08-21T23:17:14Z
- Projects
- syama · tabakoroni · mako · tomboronkoto · bantaco · doropo · abc · ladebo · guinea
- Commodities
- gold
Evidence facts55
155000000.0 USD
2026-09-28105000000.0 USD
2026-09-282543000000.0 USD
2026-09-28516000000.0 USD
2026-09-283020000 oz Au
2026-07-223020000 oz Au
2026-07-22205000 oz Au
2026-09-21225000 oz Au
2026-09-21150,000-160,000 oz Au
2026-09-21173700000.0 USD
2026-06-30112400000.0 USD
2026-06-303500000.0 USD
2026-06-3016000000.0 USD
2026-06-308100000.0 USD
2026-06-3044900000.0 USD
2026-06-30141300000.0 USD
2026-06-30102300000.0 USD
2026-06-30584700000.0 USD
2026-06-30323900000.0 USD
2026-06-30128200000.0 USD
2026-06-30277600000.0 USD
2026-06-3097000000.0 USD
2026-06-3047300000.0 USD
2026-06-30834200000.0 USD
2026-06-30Investors should not rely on the retracted production targets or forecast financial information None
2026-05-142137417613 shares
2026-02-2718695405 rights
2026-02-278087000 oz Au
2025-12-3180 %
2025-12-311014000 oz Au
2025-12-3190 %
2025-12-31221000 oz Au
2025-12-3190 %
2025-12-31444000 oz Au
2025-12-3190 %
2025-12-31365000 oz Au
2025-12-3190 %
2025-12-314359000 oz Au
2025-12-3190 %
2025-12-31643000 oz Au
2025-12-3190 %
2025-12-31343000 oz Au
2025-12-31100 %
2025-12-3190 %
2026-07-221.12 AUD/share
2026-10-090.6693 USD/AUD
2025-12-310.6869 USD/AUD
2026-06-300.6979 USD/AUD
2026-10-090.6449051792828685 USD/AUD
2026-06-300.7026219512195122 USD/AUD
2026-06-300.7098770491803279 USD/AUD
2026-06-30Tomboronkoto Ardimines; Bantaco SNEPAC; La Debo Jofema; Toro manager and sole funder None
2025-12-311.11 AUD/share
2026-10-130.6961 USD/AUD
2026-10-133760 USD/oz Au
2031-12-31Conflicts requiring judgment9
- 2026 production
September21reduces group250-275kozto205-225kozandSyamato150-160koz; originalguidesareexplicitlysuperseded. Q3/Q4 forecastsarefutureguidance,notactuals.
- Operating cash flow
Reviewed statementOCF277.6mUSD isselected; presentation226m subtractsfinancingcashflow52.3m and isnotstatutoryoperatingcashflow.
- H1 cash capex
Cashflowstatement41.5+41.0+14.5=97.0m ratherthan96.9mheadline. Source rounding/classification retained.
- FYcashcapex
Statement81.0+18.6+30.4=130.0m includescapitalisedevaluation. Narrative117.5m differentclassificationshouldnotreplace cashpaymentdefinition.
- June borrowings
Reviewed accounts bankoverdraft7.1+borrowings1.0+7.9=16.0m versusheadline15.2m. Deferred141.3m andleases8.1m recordedseparately.
- ABC study forecasts
May13scopingproductiontargetsandfinancialforecastswerewithdrawnMay14. NeitheroldNPV norproductionmodelisadopted; July3.02Mozresource remains resourceoptiononly.
- Doropo first gold
OlderH12028 replacedbylatestH22028firstgold; allmodellingriskfactorsreferencelatestguidance.
- Syama subtotal grades
Printedreserve3.7and2.8g/t subtotalgradesdo not reconcile containedmetaltonnage. Componentgrosscontainedmetalissummed and compositegradeexplicitlyderived; sourceerrornotrelabelledreported.
- Resource group-share and legal JV tenure
Keep source90%resource inventory group-share convention for disclosed physical comparisons; separately identify Ardimines,SNEPAC,Jofema legal permit holders and unknown private-JV interests. La Debo earns up to100%but vestedpercentage/remainingcosts unconfirmed, thereforezero valuation. This does not certify currentlegalownershipof90%forresourceJVprojects.