Slide 1: Mine Gold. Create Value. Half Year Results
For personal use only Mine Gold. Create Value. Half Year Results Corporate Presentation | August 2020
Slide 2: Important Notices and Disclaimers
2020 Half Year Results Presentation Important Notices and Disclaimers For personal use only This presentation contains information about Resolute Mining Limited (Resolute or the Company) and its activities that is current as at the date of this presentation unless otherwise stated. The information i
Slide 3: For personal use only
2020 Half Year Results Presentation For personal use only Mako Senegal Syama Mali Bibiani Ghana Strategic Review Ongoing 2020 Guidance Mineral Resources Ore Reserves Market Capitalisation 430koz at US$980/oz 13.3Moz 4.7Moz A$1.22Bn £670m | US$882m AISC Note: Market capitalisation as at 27 August 202
Slide 4: Operational Highlights
2020 Half Year Results Presentation Operational Highlights For personal use only Half Year to 30 June 2020 217,946oz US$1,020/oz Total Gold Poured All-In Sustaining Cost 212,668oz Total Gold Sold US$1,427/oz Ave Price Received Photo: Tabakoroni Open Pit Mine 3
Slide 5: Financial Highlights
2020 Half Year Results Presentation Financial Highlights For personal use only Half Year to 30 June 2020 US$305m US$91m Revenue Gross Operating Cash Flows* US$107m US$61m Underlying EBITDA Underlying Net Profit After Tax inclusive of Ravenswood gain US$101m US$36m EBITDA Net ProfitAfter Tax * Gross
Slide 6: Operational Performance
2020 Half Year Results Presentation Operational Performance For personal use only COVID-19 • Comprehensive companywide response implemented; US$1m to support Mali Govt / Senegal Govt response Response • Mining and processing continuing with currently no negative impact on gold production Production
Slide 7: H1 Production of 217,946oz
2020 Half Year Results Presentation H1 20 Production of 217,946oz For personal use only Multi-Asset Production Base 217,946oz 208,494oz 176,236oz 85,663oz 25,929oz 87,188 129,199oz 11,046oz 35,890oz 28,557oz 150,307oz 121,237oz 93,309oz 92,749oz H2 18 H1 19 H2 19 H1 20 Note: H1 is the six month peri
Slide 8: All-In Sustaining Cost
2020 Half Year Results Presentation All-In Sustaining Cost For personal use only AISC of US$1,020/oz in H1 20 including Ravenswood Group 1,050 828 1,276 955 AISC 1,843 (1) 1,482 1,341 1,242 1,095 901 758 682 $687 H2 18 H1 19 H2 19 H1 20 Ravenswood Syama Mako Note: H1 is the six month period to 30 Ju
Slide 9: Profit and Loss Analysis
2020 Half Year Results Presentation Profit and Loss Analysis For personal use only Continuing Operations Discontinuing Profit and Loss Analysis (Syama / Operations HY20 HY19 (US#039;000s) Mako) (Ravenswood) Group (Restated) Revenue 290,023 15,268 305,291 228,803 Cost of sales excluding depreciation and
Slide 10: Group Earnings Profile
2020 Half Year Results Presentation Group Earnings Profile For personal use only Revenue (US$m) EBITDA (US$m) EBITDA Margin 10% 24% 12% 33% 305 305 101 228 162 55 37 16 H2 18 H1 19 H2 19 H1 20 H2 18 H1 19 H2 19 H1 20 Continuing Operations Ravenswood Comparable revenue, based on gold sold in H1 20 co
Slide 11: Cash Flow Analysis (US$ million)
2020 Half Year Results Presentation Cash Flow Analysis (US$ million ) For personal use only Refinancing activities 10
Slide 12: Balance Sheet and Hedging
2020 Half Year Results Presentation Balance Sheet and Hedging For personal use only Debt Maturity Profile – US$45m Capital Structure Simplification undrawn RCF Overview • Higher cost US$130m Toro Gold acquisition bridge facility and US$63m Mako project loan repaid through a combination of low-cost d
Slide 13: Depreciation & Amortisation
2020 Half Year Results Presentation Depreciation & Amortisation For personal use only Depreciation and amortisation Depreciation and amortisation expense increased significantly to US$92.7m during the half which reflects the following impacts: • Mako – depreciation of the asset over the remaining li
Slide 14: FY20 Outlook
2020 Half Year Results Presentation FY20 Outlook For personal use only 13
Slide 15: FY20 Guidance
2020 Half Year Results Presentation FY20 Guidance For personal use only Delivery on guidance remains the key focus 10koz 430koz US$1,200/oz US$980/oz 160koz AISC AISC US$800/oz AISC 260koz US$960/oz AISC Syama Mako Ravenswood . 14
Slide 16: Syama Gold Mine: Mali
2020 Half Year Results Presentation Syama Gold Mine: Mali For personal use only 2020 Guidance: 260,000oz at an AISC of US$960/oz Increase sulphide recoveries to +80% Syama Underground operating at full capacity Continuing high margin oxide operations Define mine plan for Tabakoroni Underground Updat
Slide 17: Sulphide Operations
2020 Half Year Results Presentation Sulphide Operations For personal use only 80% gold recoveries through processing Syama Underground Mine Sulphide Production Processing recovery and gold poured • 56,679oz produced; • AISC US$1,445/oz – reflects draw down of high cost inventory 40,000 90 • Overall
Slide 18: Oxide Operations
2020 Half Year Results Presentation Oxide Operations For personal use only Low cost production from Tabakoroni; satellite deposits to provide feed in H2 20 Oxide Production • 64,558oz at an AISC of US$789/oz • 95% recovery achieved from Tabakoroni North and Splay Pits Future Oxide Production • Minin
Slide 19: Syama Outlook
2020 Half Year Results Presentation Syama Outlook For personal use only New Syama Power Plant • Bulk earthworks, mobilisation and construction commenced and progressing to plan • 40% reduction to power costs • Environmentally friendly, reducing emissions by ~ 20% Tabakoroni Underground Mine • PFS du
Slide 20: Mako Gold Mine: Senegal
2020 Half Year Results Presentation Mako Gold Mine: Senegal For personal use only 2020 Guidance: 160,000oz at an AISC of US$800/oz Maintain high productivity, low cost operations Strong cash flow generative operations Regional exploration to further extend mine life 19
Slide 21: Mako Operations
2020 Half Year Results Presentation Mako Operations For personal use only Consistent performance with strong cashflow generation Production • 85,663oz poured • AISC of US$758/oz Processing • 92-93% recoveries Stockpile • +2Mt at an average grade of 1.2g/t Consistent, strong positive cash flows Photo
Slide 22: Mako Outlook: Updated Life of Mine Plan
2020 Half Year Results Presentation Mako Outlook: Updated Life of Mine Plan For personal use only Material improvement to gold production and mine life Mako LOM update New LOM Annual Production and AISC • Average annual production of 140koz over next five years Annual Production (t) AISC US$ • LOM p
Slide 23: Guidance and Outlook
2020 Half Year Results Presentation 2020 Guidance and Outlook For personal use only Production Costs 430,000oz production guidance maintained for 2020 US$980/oz AISC affirmed despite impact of COVID-19 Development Balance Sheet Tabakoroni Underground PFS due for completion Net debt reduction focus f
Slide 24: COVID-19 Response
2020 Half Year Results Presentation COVID-19 Response The health, safety and well-being of our people is our highest priority For personal use only • Comprehensive companywide response plan implemented • Keeping our mines running is important for all stakeholders • FY20 production and cost guidance
Slide 25: Commitment to Sustainability
2020 Half Year Results Presentation Commitment to Sustainability For personal use only 1.07 50% Total Recordable Injury Frequency Rate Reduction in TRIFR (TRIFR) in past 12 months ZERO Major Environmental Proactive Incidents or Approach to Tailings Regulatory Non- Dam Management Compliance $814m 90%
Slide 26: Responsible Gold Mining
2020 Half Year Results Presentation Responsible Gold Mining For personal use only Sustainable Performance Framework based on commitment to the World Gold Council’s Responsible Gold Mining Principles Photo: Revegetation activities, Mako Gold Mine 25
Slide 27: Corporate Summary
2020 Half Year Results Presentation Corporate Summary (ASX / LSE : RSG) For personal use only Capitalisation A$ £ US$ ASX Price Performance Share Price $1.11 £0.55 $0.72 $2.25 40 Shares on Issue 1,102,826,939 $2.00 35 Market Capitalisation $1.22B £670m $882m $1.75 30 Top 10 Shareholders 2020 Guidanc
Slide 28: Contact
For personal use only Follow Us Contact John Welborn | Managing Director & CEO EMAIL | contact@rml.com.au PHONE | +61 8 9261 6100 WEB | www.rml.com.au