Slide 1: Mine Gold. Create Value. 2019 Financial Results Presentation
For personal use only Mine Gold. Create Value. 2019 Financial Results Presentation For the 12 months to 31 December 2019
Slide 2: Important Notices & Disclaimers
2019 Financial Results Presentation Important Notices & 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 in
Slide 3: Resolute at a glance
2019 Financial Results Presentation Mako Senegal For personal use only Syama Mali Ravenswood Bibiani Australia Ghana Sale on schedule to complete on or around Strategic Review Underway 31 March 2020; proceeds of up to A$300m FY20 Guidance(1) Market Capitalisation Resources(1) Reserves(1) 500koz at A
Slide 4: Resolute Portfolio
2019 Financial Results Presentation Resolute Portfolio For personal use only Syama Mako Ravenswood Bibiani Syama Complex comprises the Syama Mako is a high quality, low-cost Resolute’s sale of Ravenswood for Bibiani is a potential long life, high Underground Mine, a world class, fully producing asse
Slide 5: Commitment to Sustainability
2019 Financial Results Presentation Commitment to Sustainability For personal use only Sustainability Performance Framework 2.09 ZERO • Governs Resolute’s sustainable mining practices Total Recordable Injury Frequency Rate Lost Time Injuries at Mako • Includes a series of business principles, commit
Slide 6: FY19 Year in Review
2019 Financial Results Presentation FY19 Year in Review For personal use only Improved safety performance; Ravenswood Strategic Review concludes TRIFR down to 2.09 (from 2.77 at 30 June) with project sale for up to A$300 million Value accretive acquisition of Toro Gold adds Bibiani Strategic Review
Slide 7: Operational Performance
2019 Financial Results Presentation Operational Performance For personal use only 384,731oz US$1,090/oz Total Gold Production All-In Sustaining Cost (A$1,577/oz) 394,920oz Total Gold Sold US$1,344/oz Ave Price Received (A$1,933/oz) 6
Slide 8: FY19 Production of 384,731oz
2019 Financial Results Presentation FY19 Production of 384,731oz For personal use only Multi-Asset Production Base 208,494oz 176,237oz 25,929oz 87,188oz 141,437oz 129,199oz 46,760oz 35,890oz 28,557oz 150,307oz 94,677oz 93,309oz 92,749oz H1 18 H2 18 H1 19 H2 19 Note: H1 is the six month period to 30
Slide 9: Financial Performance
Full Year 2019 Financial Results Results Presentation: Presentation For the 12 months to 31 December 2019 Financial Performance For personal use only A$770m A$149m Revenue Operating Cash Flow A$208m A$21m Underlying EBITDA Underlying Net Profit After Tax A$132m A$113m EBITDA Net Loss After Tax Note:
Slide 10: FY19 All-In Sustaining Cost of US$1,090/oz
2019 Financial Results Presentation FY19 All-In Sustaining Cost of US$1,090/oz For personal use only All-In Sustaining Cost by Asset (US$/oz) (1) 1,843 1,482 1,341 1,242 1,070 933 901 682 687 H1 18 H1 18 H2 18 H2 18 H1 19 H1 19 H219 H2 19 Syama Ravenswood Mako Note: H1 is the six month period to 30
Slide 11: Profit and Loss Analysis
2019 Financial Results Presentation Profit and Loss Analysis For personal use only Continuing Discontinuing Operations Operations FY19 FY18 (A#039;000s) (Syama / Mako) (Ravenswood) Group Group Strong Underlying EBITDA generation in Revenue 656,392 113,922 770,314 465,692 FY19 was offset by one-off adju
Slide 12: Group Earnings Profile
2019 Financial Results Presentation Group Earnings Profile For personal use only Revenue (A$m) EBITDA (A$m) EBITDA Margin 446 12% 10% 24% 12% 324 78 243 223 54 29 22 H1 18 H2 18 H1 19 H2 19 H1 18 H2 18 H1 19 H2 19 Increased revenue in H2 19 driven by increased production following the The erosion in
Slide 13: Cash Flow Analysis
2019 Financial Results Presentation Cash Flow Analysis For personal use only Cash Flow (A$m) 229 (205) 158 (191) 26 151 125 97 (2) 39 Cash Operating Net Borrowings Capital Expenditure Toro Cash Toro Acquired Cash Other Cash Bullion Cash and Bullion 31 Dec 2018 Cash Flow Consideration 31 Dec 2019 31
Slide 14: Balance Sheet and Hedging
2019 Financial Results Presentation Balance Sheet and Hedging For personal use only New US$300m flexible low cost senior debt facility secured Capital Structure Simplification Gold Hedging (as at 1 April 2020) Overview A$ Forward Sales US$ Forward Sales • Higher cost US$130m Toro Gold acquisition br
Slide 15: FY20 Outlook
2019 Financial Results Presentation FY20 Outlook For personal use only 14
Slide 16: COVID-19: Resolute Business Update
2019 Financial Results Presentation COVID-19: RESOLUTE BUSINESS UPDATE For personal use only • The health and safety of our people is a Resolute priority • Comprehensive companywide response to the coronavirus pandemic has been implemented • Keeping our mines running is important for employees, loca
Slide 17: FY20 Guidance
2019 Financial Results Presentation FY20 Guidance For personal use only Operational excellence evidenced by delivery on guidance remains key focus 80koz 500koz US$1,200/oz US$980/oz 160koz AISC AISC US$800/oz AISC 260koz US$960/oz AISC (1) (1) Syama Mako Ravenswood Note (1): updated guidance to be r
Slide 18: Syama Gold Mine: Mali
2019 Financial Results Presentation Syama Gold Mine: Mali For personal use only FY20 Guidance: 260,000oz at an AISC of US$960/oz FY20 Focus Areas Improved recoveries from sulphide processing circuit; +80% delivered Syama Underground Mine operating at full capacity Continuing high margin oxide operat
Slide 19: Mako Gold Mine: Senegal
2019 Financial Results Presentation Mako Gold Mine: Senegal For personal use only FY20 Guidance: 160,000oz at an AISC of US$800/oz FY20 Focus Areas Optimise mine plan to support lower cost, longer life production Accelerate drilling activities to increase resource base In pursuit of mine life extens
Slide 20: Ravenswood Gold Mine: Australia
2019 Financial Results Presentation Ravenswood Gold Mine: Australia For personal use only Sale on schedule for completion on or around 31 March 2020 FY20 Guidance: 80,000oz at an AISC of US$1,200/oz FY20 Focus Area Complete sale to realise up to A$300 million proceeds 19
Slide 21: Bibiani Gold Mine: Ghana
2019 Financial Results Presentation Bibiani Gold Mine: Ghana For personal use only Strategic review underway FY20 Focus Area Deliver value accretive outcome from strategic review 20
Slide 22: Strategic Investments in Africa
2019 Financial Results Presentation Strategic Investments in Africa For personal use only Objective 16% stake Establish a portfolio of investments in emerging gold explorers to expand our project pipeline and provide a source of medium term potential growth 8% stake 26% stake opportunities Focus Equ
Slide 23: Responsible Gold Mining Principles
2019 Financial Results Presentation Resolute is committed to the World Gold Council’s For personal use only Responsible Gold Mining Principles 22
Slide 24: Corporate Summary
2019 Financial Results Presentation Corporate Summary (ASX / LSE : RSG) For personal use only Capitalisation A$ £ US$ ASX Price Performance $2.25 40 Share Price $1.93 £0.46 $0.56 Shares on Issue 1,057m $2.00 35 Market Capitalisation $978m £489m $587m $1.75 30 (1) Top 10 Shareholders FY20 Guidance $1
Slide 25: Contacts
For personal use only Contacts Follow Us John Welborn | Managing Director & CEO Jeremy Meynert | General Manager – BD & IR EMAIL | contact@rml.com.au PHONE | +61 8 9261 6100 WEB | www.rml.com.au