Slide 1: Half Year Results
For personal use only Half Year Results For the half year ending 31 December 2016 ASX:RSG | www.rml.com.au
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: Mine Gold. Create Value.
For personal use only Mine Gold. Create Value. 3
Slide 4: HY17: Outstanding Performance
HY17: Outstanding Performance For personal use only Cash, Bullion & Total Gold Production Listed Investments 170,558oz A$283M (HY16: A$75M) (HY16: 153,191oz) Gold Shipped All-In Sustaining Cost Gross Profit A$69M 164,826oz A$999/oz (HY16: A$62M) (HY16: 158,489oz) (HY16: A$1,247/oz) 4
Slide 5: HY17: Highlights
HY17: Highlights For personal use only Financial Operating Balance Sheet Performance Performance Total gold production for Total Cash, bullion and listed A$64M HY17 net profit after tax 170,558oz HY17 A$283M investments at market value Revenue from gold and Net Cash, bullion and A$168M silver sales
Slide 6: Resolute: A Gold Company
Resolute: A Gold Company For personal use only • Resolute actively manages the Company’s treasury exposure to AUD, USD, EUR, and gold bullion • Resolute treats gold bullion as an alternative currency • Holding surplus liquid assets in a variety of currencies/forms maintains and enhances shareholder
Slide 7: HY17: Potential Earnings & Cash Flow from accumulated gold bullion
HY17:Potential Earnings & Cash Flow from accumulated gold bullion For personal use only Effect on earnings and cash flow assuming the gold bullion accumulated during the half year (70,746oz) had been sold at the period end spot gold price (A$1,592/oz)1: Assuming Difference HY17 gold sold at +/(-) 1
Slide 8: HY17: Strong Foundation for Growth
HY17: Strong Foundation for Growth For personal use only Balance sheet Exploration strengthened Success Strong free cash Nafolo discovery at flow generation Syama Development Robust Cash, commenced Bullion & Listed Syama Underground and Ravenswood Investments Expansion Project A$283M 8
Slide 9: HY17: Strong Cash Flow
HY17: Strong Cash Flow For personal use only A#039;m Quarterly Cash & Bullion HY17 Cash & Bullion Flows 320 (excluding capital raising) 300 $140 280 260 $120 240 220 $100 200 A$M 180 160 $80 140 120 $60 100 80 $40 $20 $0 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 9
Slide 10: Half Year Financial Performance
Half Year Financial Performance For personal use only A$M A$M EBITDA Gross Profit $100 $120 $90 $100 $80 $70 $80 $60 $50 $60 $40 $40 $30 $20 $20 $10 $0 $0 1H15 2H15 1H16 2H16 1H17 1H15 2H15 1H16 2H16 1H17 A$M Diluted EPS A$M Cash, bullion & investments net of debt $20 300 $10 250 $0 200 150 -$10 100
Slide 11: Production Up, Costs Down
Production Up, Costs Down For personal use only Quarterly gold production and costs $1,400 140,000 $1,200 120,000 $1,000 100,000 $800 Ounces (oz) A$/oz 80,000 $600 60,000 40,000 $400 20,000 $200 0 $0 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Ravenswood Syama Sulphide Syama Oxide All-In Sustaining Cost (A$/
Slide 12: All-In Sustaining Cost Margins
All-In Sustaining Cost Margins For personal use only Quarterly All-In Sustaining Cost Margins $1,800 $1,800 $1,600 $1,600 All-In Sustaining Cost (AISC) Margin (A$/oz) $1,400 $1,400 $1,200 $1,200 $1,000 $1,000 A$/oz $800 $800 $600 $600 $400 $400 $200 $200 $0 $0 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 AISC
Slide 13: HY17: Production and Costs - Syama Gold Mine
HY17: Production and Costs Syama Gold Mine For personal use only Syama Sulphide Operations Total Ore Mined Ore Milled Head Grade Recovery AISC Production (t) (t) (g/t) (%) A$/oz (Gold oz) Dec Quarter 2016 803,923 527,539 2.91 72.8 35,850 705 Sep Quarter 2016 44,318 520,363 2.83 73.4 34,729 1,048 HY1
Slide 14: Development Highlights: Syama Gold Mine
Development Highlights: Syama Gold Mine For personal use only • Underground mining has commenced at the Syama Sublevel Cave Mine • First development ore expected in 1st Half of CY17 • First production ore expected in 2nd Half of CY18 • Automated drilling and longer rounds delivering rapid undergroun
Slide 15: Exploration Highlights: Syama Gold Mine
Exploration Highlights: Syama Gold Mine For personal use only Exploration Success: Nafolo Discovery • Adjacent to 8Moz Syama Deposit • Untested along strike and at depth • Potential to transform Syama operation • Located 250m south of the current underground design 15
Slide 16: HY17: Production and Costs - Ravenswood Gold Mine
HY17: Production and Costs Ravenswood Gold Mine For personal use only Ravenswood Operations Total Ore Mined Ore Milled Head Grade Recovery AISC Production (t) (t) (g/t) (%) A$/oz (Gold oz) Dec Quarter 2016 656,695 549,129 1.77 93.6 29,223 1,276 Sep Quarter 2016 296,330 416,011 1.58 94.6 19,901 1,508
Slide 17: Development Highlights: Ravenswood Gold Mine
Development Highlights: Ravenswood Gold Mine For personal use only • Ravenswood Expansion Project extends mine-life until at least 2029 • Open pit mining has commenced at Nolans East • Staged development plan includes Buck Reef West and Sarsfield pits • Total annual production to increase to 140,000
Slide 18: Development Highlights: Bibiani Gold Mine
Development Highlights: Bibiani Gold Mine For personal use only • 2nd phase of drilling commenced at Bibiani in the Dec Quarter 2016 • Aiming to extend mine life beyond the current five years • Drilling to upgrade inferred resources of 4.5Mt @ 4.1g/t Au • Aiming to identify new areas of mineralisati
Slide 19: Resolute's focus on growth
Resolute’s focus on growth 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 • Continuing to look for strategic partner
Slide 20: Continuing improvement across the business
Continuing improvement across the business For personal use only Business Resource Reserve Mine Mining Mineral Development Exploration Estimation Estimation Planning Operations Processing • Kilo • Nafolo • Syama 6.0Moz • Syama 3.1Moz • Syama UG • Nolans East • Project 85 Goldmines discovery DFS open
Slide 21: Mine Gold. Create Value.
Mine Gold. Create Value. For personal use only Prioritising Diversifying our sustainable dividends* production base Ambition to be producing Reducing All-In Sustaining Costs (AISC) >450kozpa through innovation from 3 operations by 2020 * Dividends to be paid on the full year result will not be impac
Slide 22: 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 23: For personal use only
For personal use only RML.COM.AU | ASX:RSG