Slide 1: Preliminary Financial Results Presentation
Preliminary Financial Results Presentation for the year ended 31 December 2021 1
Slide 2: Disclaimer
This presentation contains information about Resolute Mining Before making any investment decision in connection with any Announcements and confirms that all material assumptions and Limited (Resolute or the Company) and its activities that is acquisition of Resolute securities, prospective investor
Slide 3: Our Purpose and Values
OUR PURPOSE We are a trusted and responsible gold miner, driven by excellence to create value for shareholders and the communities in which we operate. OUR VALUES Respect Sustainability > We respect each other and the countries We prioritise health, safety and environment, and communities in which w
Slide 4: 2021 Highlights
2021 Highlights • Total Recordable Injury Frequency Rate (TRIFR) of 1.25 (2020: 0.87) • Syama sulphide improved roaster throughput • Mako cut-back extends mine life by two years • Productivity and efficiency initiatives implemented • Strong finish to the year with December production the highest of
Slide 5: Sustainability
Sustainability • ~2,000 employees double COVID vaccinated • Community investment in health, education and infrastructure • National workforce 93% direct and contract • Critical Hazard Management Standards implemented • Training in high risk systems of work escalated • Support of endangered species i
Slide 6: Key initiatives
Key initiatives Safety, production and processing focus People Continue to build our teams: • Board renewal, appointment of key executives and site based operational managers • Support and training of managers and supervisors to deliver safety, production and cost improvements • Targeted employee en
Slide 7: Operational overview
Operational overview Total Gold Production All-In Sustaining Cost 319,271oz 1,370/oz Total Gold Sold Average Price Received 316,464oz $1,733/oz 7
Slide 8: Multi asset production base
Multi asset production base 395,137 oz CY21 reflects: 384,732 oz at an AISC of $1,074/oz at an AISC of $1,090/oz 11,046 oz • 10% improvement 319,271 oz in Syama Sulphide 54,486 oz at an AISC of $1,370/oz production 169,731 oz 87,187 oz • Mako cutback extending 126,617 oz mine life by 2 years 62,524
Slide 9: Financial Performance
Financial Performance $549m $130m Revenue EBITDA $148m $367m Operating cash flow Net loss after tax $89m $229m Cash and bullion Net debt 9
Slide 10: Earnings analysis
Revenue Earnings analysis • Gold sales 316.5koz at average realised price of $1,733/oz (2020: 395.2koz at $1,562/oz). 2021 2020 • Ounces sold reflect: Profit and Loss Analysis Group Group (#039;000s) ‒ Mako cut-back to extend mine life with expected lower grades Revenue 549,242 602,985 ‒ Transition to
Slide 11: EBITDA 2021 v 2020
EBITDA 2021 v 2020 Consistent operational performance 11
Slide 12: Cash flow analysis
Cash flow analysis Operating cash flows including royalties and capital expenditure totalled $75.2 million 12
Slide 13: Net debt and hedge book
Net debt and hedge book Net Debt US$m 31 December 2021 31 December 2020 Cash 67.6 89.0 Bullion 20.9 17.4 Total Cash and Bullion 88.6 106.4 Gross Debt (317.4) (336.8) Net Debt (228.8) (230.4) Gold hedging at 31 December 2021 US Dollar Forward Sales Euro Forward Sales Forward price ($/oz) Delivery (oz
Slide 14: 2022 Outlook
2022 Outlook Capitalise on strong foundations and existing investments 14
Slide 15: 2022 Production and AISC Guidance
2022 Production and AISC Guidance 2022 Guidance Gold Production (oz) AISC ($/oz) Syama Sulphide 145,000 1,345 Syama Oxide 75,000 1,430 Production and cost guidance for Mako 125,000 1,325 12 months to 31 December 2022 Group (inclusive of Group overheads) 345,000 1,425 2022 Capex Guidance • Sustaining
Slide 16: Syama Gold Mine: Mali
Syama Gold Mine: Mali Long-life asset with extensive landholdings in a highly prospective gold region CY21 Sulphide CY21 Oxide • 135,618oz at AISC: $1,406/oz • 57,036oz at AISC $1,501/oz • Gold Recovery 78.0% • Gold Recovery 87.3% Plant Capacity Plant Capacity 2.4Mtpa 1.5Mtpa CY22 Production CY22 Pr
Slide 17: Mako Gold Mine: Senegal
Mako Gold Mine: Senegal Conventional mining and processing open pit gold mine CY21 Production • 126,617oz produced at an AISC of $1,139/oz • Gold Recovery at 92.2% Plant Capacity 2.1Mtpa CY22 Planned Production 125,000oz at AISC of $1,325/oz 17
Slide 18: Tabakoroni Resource update
Tabakoroni Resource update 40% increase in Global Measured and Indicated Mineral Resource Estimate • Global Measured and Indicated Mineral Resource Estimate updated to 9.2 million tonnes at 4.4 g/t for 1.3 million ounces of gold a 40% increase over the previous estimate • The gold deposit remains op
Slide 19: Syama North
Syama North Positive results - potential for oxide life extension • Extensive drilling throughout 2021 targeting oxide mineralisation adjacent to historic open pits • Drilling programs successful leading to the recommencement of open pit mining at Beta South, Beta West and A21 West • Substantial sul
Slide 20: Strategic investments
Strategic investments Well-positioned to capitalise on exploration success 15% Value: Objective stake US$13.7 million¹ Establish a portfolio of investments in emerging gold explorers to provide potential for medium-term 16% Value: growth opportunities stake US$6.1 million Focus 11% Value: Equity inv
Slide 21: Bibiani Gold Mine and Ravenswood Gold Mine
Bibiani Gold Mine Resolute completed the sale of the Bibiani Gold Mine to Asante Gold Corporation (Asante) for total cash consideration of $90 million • $60 million cash received (August 2021 and February 2022) • $30 million to be received in August 2022 Ravenswood Gold Mine1 • A$50 million 6% promi
Slide 22: 2022 Focus
• Reliable delivery on safety, production and costs 2022 Focus • Successful completion of key projects: ‒ Syama roaster shutdown ‒ Transition to a planned maintenance regime • Strengthen balance sheet • Near mine exploration to extend mine lives: ‒ Syama oxide satellites ‒ Syama sulphide: Tabakoroni
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Slide 24: Appendix – Full-year 2021 Production and Costs
Appendix – Full-year 2021 Production and Costs (unaudited) Syama Group Units Syama Oxide Syama Total Mako Sulphide Total UG Lateral Development m 5,574 - 5,574 - 5,574 UG Vertical Development m 118 - 118 - 118 Total UG Development m 5,692 - 5,692 - 5,692 UG Ore Mined t 2,222,814 - 2,222,814 - 2,222,