Slide 1: Mining gold to create enduring value
For personal use only Mining gold to create enduring value Mining Indaba 2017, Cape Town, South Africa, 6 - 9 February 2017
Slide 2: Cautionary Statement
Cautionary Statement For personal use only This presentation includes certain statements, estimates and projections with respect to the future performances of Resolute. Such statements, estimates and projections reflect various assumptions concerning anticipated results, which assumptions may prove
Slide 3: Corporate Summary (ASX:RSG)
Corporate Summary (ASX:RSG) For personal use only Shares on issue 736,982,768 Share Price Share Price A$1.46 2.5 Market Capitalisation A$1.08Bn (US$818M) 2 Cash and bullion A$275M (US$206M) at 31 Dec 2016 Debt A$22M (US$16M) at 31 Dec 2016 1.5 $AUD 300,000oz gold production @ FYI7 Guidance AISC A$1,
Slide 4: Long life mines are the foundations for enduring shareholder value
For personal use only Resolute’ s gold mining expertise and long life mines are the foundations for enduring shareholder value 4
Slide 5: Company history
Company history For personal use only Syama Ravenswood Golden Pride Obotan 7Moz over 25 years Chalice of continuous gold Marymia production and Higginsville counting… 5
Slide 6: Reserves & Resources
Reserves & Resources For personal use only 5.6Moz Reserves Total Ore Reserves estimated at 112.1Mt @ 1.5g/t Au for 5.6Moz of contained gold, comprising: 0.6Moz Syama Gold Mine 37.0Mt @ 2.6g/t Au for 3.1Moz 1.8Moz 3.1Moz Ravenswood Gold Mine 69.7Mt @ 0.8g/t Au for 1.8Moz Bibiani Gold Mine 5.5Mt @ 3.7
Slide 7: Highlights Half Year to Dec 2016
Highlights Half Year to Dec 2016 Strong operating performance For personal use only First Half Full Year Production 31 Dec 2016 Performance Guidance Balance Sheet Total Cash, bullion and 170,558oz YTD total gold production 300,000oz FY17 total gold production A$283M listed investments 164,826oz YTD
Slide 8: Resolute action plan
Resolute action plan For personal use only Organic Growth through exploration Diversifying our production base Ambition to be producing Reducing All-in-Sustaining Costs (AISC) >450kozpa through innovation from 3 operations by 2020 8
Slide 9: Performance and Outlook
Performance and Outlook For personal use only Gold production and costs 500,000 Production Outlook 450,000 $1,000 140,000 400,000 $900 120,000 $800 350,000 $700 300,000 100,000 Ounces (oz) Ounces (oz) $600 250,000 US$/oz 80,000 $500 200,000 60,000 $400 150,000 $300 40,000 100,000 $200 20,000 50,000
Slide 10: Peer Benchmarking
For personal use only Roxgold 519 Notes: Source: Evolution 259 Northern Star 975 Centamin 231 Roxgold 744 B2Gold 212 Regis 696 Northern Star Evolution 612 211 B2Gold 558 OceanaGold 183 Saracen 547 (1) Resource inclusive of reserve. Regis 173 Centamin 540 Endeavour 164 OceanaGold 529 EV / Reserve (A$
Slide 11: Transformation: Developing long life mining operations
For personal use only Transformation: Developing long life mining operations Syama DFS Ravenswood FS Bibiani FS 12 years 13 years Confirms pathway to production 11
Slide 12: The enduring value of long life assets
The enduring value of long life assets For personal use only Historical gold discoveries Historical and forecast gold production 150 mmoz “Peak” US$mm 7,200 100 • Increased exploration “Peak” 125 discovery? 6,000 95 Production? budgets through the 100 4,800 90 last price cycle has 75 3,600 85 not re
Slide 13: Syama Gold Mine
Syama For personal use only Gold Mine Key Statistics Commissioned 2009 Production Guidance FY17 204koz A$1,221/oz AISC Guidance FY17 US$891/oz Mine Life Beyond 2028 Total Reserves 3.1Moz Total Resources 6.0Moz 13
Slide 14: Going underground at Syama
Going underground at Syama: developing a robust, long life flagship gold mine. For personal use only Pre-production capital of US$95 million fully funded Life of U/G Mine All-In Sustaining Cost Initial 12 year US$881 Operating life per ounce 14
Slide 15: Syama underground sublevel cave
Syama underground sublevel cave Taking the learnings from Ravenswood’s Mt Wright to Africa For personal use only Existing Caving expertise Highly efficient, top-down, bulk mining Low up-front capex Controlled, high-productivity ore delivery Flexible method Consistent and reliable production 15
Slide 16: Syama v Mt Wright
Syama v Mt Wright Key criteria comparison For personal use only Mt Wright achieved Syama expected Oz/vertical metre 2,400 oz/m 6,300 oz/m Tonne of stope ore/metre of 318t/metre of development 343t/metre of total development development Vertical advance per year 51m/yr LoM average 39m/yr LoM average
Slide 17: Exploration: World class, belt scale tenure
Exploration: World class, belt scale tenure Heavily endowed and underexplored For personal use only • Early exploration success at the Nafolo discovery south of the main Syama orebody • Expansion of existing inventory at Syama, Ravenswood, and Bibiani • Highly prospective, underexplored tenure sprea
Slide 18: Nafolo prospect
Nafolo prospect Game changing new discovery For personal use only • Adjacent to 8Moz Syama Deposit • Untested along strike and at depth • Potential to transform Syama operation 18
Slide 19: Nafolo prospect
Nafolo prospect Four holes in…a major new discovery For personal use only 19
Slide 20: Ravenswood Gold Mine
Ravenswood For personal use only Gold Mine Ravenswood Production 160,000 140,000 120,000 Key Statistics 100,000 Ounces (oz) Acquired 2004 80,000 60,000 Production Guidance FY17 96koz 40,000 Production Post 2020 +130kozpa 20,000 A$1,166/oz - LOM AISC US$880/oz FY2017 FY2018 FY2019 FY2020 FY2021 FY202
Slide 21: Ravenswood Expansion Project
Ravenswood Expansion Project a long life low cost open pit operation For personal use only Sarsfield Buck Reef West 1.2Moz Reserve & Nolans East 0.5Moz Reserve 2.6Moz Resource 71koz Reserve &1.3Moz Resource 13 year Life of Mine All-in-Sustaining-Cost mine life US$880 A$134m start up capital per ounc
Slide 22: Ravenswood Expansion Project: The key deposits
Ravenswood Expansion Project: The key deposits For personal use only Mt Wright 10km 120kozpa for 13 years 5Mtpa mill capacity Nolans East open pit mining underway Staged development plan 22
Slide 23: Ravenswood Future open pit mining
Ravenswood Future open pit mining For personal use only • Reserves: 69.7Mt @ 0.8g/t (1.8Moz) • Resources: 172.4Mt @ 0.8g/t (4.3Moz) • Life of Mine strip ratio of 1.3:1 • Beneficiation of low grade ore (0.3 - 0.7g/t Au) • Bulk open pit mining costs (~A$3.50/t) • Owner operator, larger equipment poten
Slide 24: Bibiani Gold Mine
Bibiani For personal use only Gold Mine Key Statistics Feasibility Study Completed June 2016 Total Reserves 0.6Moz Total Resources 1.8Moz Mining Rate 1.2Mtpa Mining Grade 3.7g/t Proposed Annual Production >100koz AISC US$858/oz Development Decision Pending 24
Slide 25: Bibiani: Feasibility Study confirms viable pathway to production
Bibiani: Feasibility Study confirms viable pathway to production. For personal use only Life of Mine Initial Ore Reserve of All-in-Sustaining-Cost 5.4Mt @ 3.7g/t containing US$858/oz per ounce 640,000oz of gold Pre-production capital of US$72 million 9 month timeline to production 25
Slide 26: Bibiani: upside
Bibiani: upside For personal use only • A substantial gold deposit: • Production to date of >4Moz • 1.8Moz Total Resource • Inferred Resource of 4.5Mt @ 4.1g/t • Drilling now to upgrade to Indicated Resource • Inferred Resources can be accessed from planned decline – very little additional cost to r
Slide 27: Resolute focus on Growth
Resolute focus on Growth Exploration and Business Development For personal use only • Recent investments in Kilo Goldmines (KGL.tsx-v) and Manas Resources (MSR.asx) • Exposure to prospective tenure in Tanzania and Democratic Republic of Congo (DRC) • Backing good teams in the right locations • Conti
Slide 28: Golden Pride
Golden Pride For personal use only 1996 to 2014 Purchased exploration portfolio Defined a mineable resource Completed feasibility study Constructed the first modern gold mine in Tanzania Produced 2.2 Moz gold over a 15 year mine life Generated net cash flows of US$211m Completed award winning enviro
Slide 29: Invest in Resolute
Invest in Resolute For personal use only • Strong Balance Sheet and ongoing operational cash flow generation • New Executive Team leading cultural and performance transformation • Exciting new discovery at Nafolo • Large long life mines • Organic production growth to >450kozpa • Syama Underground Mi
Slide 30: Appendix 1: Mineral Resources Statement June 2016
Appendix 1: Mineral Resources Statement June 2016 For personal use only MEASURED INDICATED INFERRED TOTAL Group share MINERAL RESOURCES 1 kt g/t koz kt g/t koz kt g/t koz kt g/t koz koz Ravenswood (Australia) 100% Sarsfield (insitu) 2 46,453 0.8 1,186 57,664 0.7 892 22,192 0.7 521 126,309 0.6 2,599
Slide 31: Appendix 2: Updated Ore Reserves Statement June 2016
Appendix 2: Updated Ore Reserves Statement June 2016 For personal use only PROVED PROBABLE TOTAL Group share ORE RESERVES Kt g/t KOz Kt g/t KOz Kt g/t KOz KOz Ravenswood (Australia) 100% Sarsfield (insitu) 2 28,450 0.8 747 18,640 0.7 423 47,090 0.8 1,170 1,170 Nolans East 1,818 0.8 46 846 0.9 25 2,6
Slide 32: For personal use only
For personal use only ASX:RSG | www.rml.com.au