Gold price strength, disciplined cost management underpin Resolute's first-half performance
Australia- and London-listed Resolute Mining has reported a strong performance for the six months ended June 30, with CEO Chris Eger saying the performance was underpinned by continued strength in the gold price, disciplined cost management and the resilience of the company's Syama and Mako gold mines, in Mali and Senegal, respectively.
He points out that the company generated significant operating cash flow, ending the six months with a net cash position of $317.4-million.
"Operationally, Mako continued to perform strongly while Syama was impacted by the planned roaster shutdown, explosives supply constraints and slower mobilisation at A21. We remain focused on increasing production through the second half [of the year] as the Syama sulphide conversion project is progressively commissioned and ramped up," Eger says.
He adds that the company continued to advance its key growth initiatives during the six months under review.
"At Doropo, the project progressed from final investment decision into active construction, with early works advancing and financing progressing. At ABC, the updated three-million-ounce inferred mineral resource highlighted the scale of the opportunity and supports our objective of advancing the project through studies and permitting over the coming years."
The Doropo and ABC projects are both in Côte d'Ivoire.
The company sold 123 951 oz of gold at a price of $4 712/oz, generating revenue of $584.7-million. Earnings before interest, taxes, depreciation and amortisation increased to $323.9-million, reflecting the higher revenue, but partially offset by lower gold production, increased royalty payments associated with elevated gold prices and higher operating costs at Syama.
Operating cash flows increased by 110% year-on-year to $277.6.million, while net profit increased to $162.6-million, compared with the net profit of $71-million reported for the first half of 2025.
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