Slide 1: March 2020 Quarterly Activities Report
For personal use only Mine Gold. Create Value. March 2020 Quarterly Activities Report Corporate Presentation
Slide 2: Important Notices and Disclaimers
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 in this presentation remains subject
Slide 3: Resolute at a glance
Mako Senegal For personal use only Syama Mali Ravenswood Bibiani Australia Ghana Sale Completed Strategic Review Ongoing on 31 March 2020 2020 Guidance Market Capitalisation Mineral Resources Ore Reserves 430,000oz at US$980/oz A$1.03Bn 13.3Moz 4.7Moz AISC £527m | US$659m Note: Market capitalisation
Slide 4: March 2020 Quarter in Review
March 2020 Quarter in Review For personal use only COVID-19 • Comprehensive companywide response implemented; US$1 million to support Mali Govt / Senegal Govt response Response • Mining and processing continuing as normal; no reported COVID-19 cases across sites or offices Production • Gold poured o
Slide 5: Resolute's COVID-19 Response
Resolute’s COVID-19 Response 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, local communities, national economies • Resolu
Slide 6: Sustainability Update
Sustainability Update For personal use only Enhanced sustainability reporting provided in the 2019 Annual Report which was published during the March 2020 Quarter Health and Safety • Improved safety performance: lower Total Record Injury Frequency Rate relative to previous quarter; 1.60 at 31 March
Slide 7: Operational Performance
Operational Performance For personal use only March 2020 Quarter 110,763oz US$1,007/oz Total Gold Production All-In Sustaining Cost Syama and Mako AISC: US$918/oz 102,008oz Total Gold Sold US$1,407/oz Ave Price Received Photo: Tabakoroni Open Pit Mine 6
Slide 8: March 2020 Quarter Production of 110,763oz
March 2020 Quarter Production of 110,763oz For personal use only 2020 Production Guidance of 430,000oz Multi-Asset Production Base 110,763oz 103,201oz 105,293oz 98,105oz 13,554 42,186 78,132oz 42,997 44,191 12,375 11,046 13,206 15,351 84,552 65,757 57,531 45,804 46,945 Mar 19 Qtr Jun 19 Qtr Sep 19 Q
Slide 9: March 2020 Quarter AISC of US$1,007/oz
March 2020 Quarter AISC of US$1,007/oz For personal use only 2020 Cost Guidance of US$980/oz AISC by Asset (US$/oz) Group AISC 740 939 1,202 1,419 1,007 (1) 2,157 1,642 1,523 1,537 1,422 1,335 1,087 1,083 790 716 658 694 598 Mar 19 Qtr Jun 19 Qtr Sep 19 Qtr Dec 19 Qtr Mar 20 Qtr Syama Ravenswood Mak
Slide 10: Syama Gold Mine: Mali
Syama Gold Mine: Mali For personal use only March 2020 Quarter: 57,531oz at an AISC of US$1,083/oz 2020 Guidance: 260,000oz at an AISC of US$960/oz March 2020 Quarter Update Sulphide production up 54% on December 2019 Quarter; achieved recoveries of 75%; targeting 85% in H2 2020 Oxide circuit contin
Slide 11: Sulphide Operations
Sulphide Operations For personal use only Improved tonnages and recoveries corresponded with higher quarterly output Syama Underground Mine Sulphide Production Hauled and Blasted Ore Tonnages • 21,430oz at an AISC of US$1,637/oz • Increase of 54% on the December 2019 Quarter 1,000,000 • Overall sulp
Slide 12: Sulphide Circuit Flow Sheet
Sulphide Operations For personal use only Sulphide Circuit Flow Sheet: targeting 85% recoveries Atmosphere Comminution Concentrate Thickener Slight mass loss in roaster due to Mill Feed Overflow oxidation of sulphur Concentrate Roaster directed to Pond when Roaster is Primary Mill off-line for Secon
Slide 13: Oxide Operations
Oxide Operations For personal use only Low cost production from Tabakoroni; satellite deposits to provide feed in H2 2020 Oxide Production • 36,101oz at an AISC of US$754/oz • Increase of 10% on the December 2019 Quarter • Recoveries strengthened as more oxidised material from the Tabakoroni North P
Slide 14: Syama Oxide Exploration
Syama Oxide Exploration For personal use only Near surface drilling programs at satellites are returning significant high-grade oxide gold intersections Tabakoroni area drillhole locations on geology and satellite imagery Photo: Exploration Drilling at Tabakoroni 13
Slide 15: Tabakoroni Underground Mine
Tabakoroni Underground Mine For personal use only Pre-Feasibility Study Commenced • Pre-Feasibility Study (PFS) initiated in the March 2020 Quarter following positive outcomes from internal Concept Study completed in 2019 • The PFS is investigating various underground mining methods and rates and wi
Slide 16: Syama Power Upgrade Project
Syama Power Upgrade Project For personal use only Construction of new solar hybrid modular power underway • Early works comprising mobilisation of the earthworks contractor, bulk earthworks and relocation of existing hire power units undertaken; detailed earthworks commenced • The new power station
Slide 17: Mako Gold Mine: Senegal
Mako Gold Mine: Senegal For personal use only March 2020 Quarter: 42,186oz at an AISC of US$694/oz FY20 Guidance: 160,000oz at an AISC of US$800/oz March 2020 Quarter Update Consistent and reliable performance generating strong free cash flow Accelerating drilling activities to increase resource bas
Slide 18: Ravenswood Gold Mine: Australia
Ravenswood Gold Mine: Australia For personal use only Sale successfully completed on 31 March 2020 All assets and associated liabilities transferred Sale Proceeds A$50m upfront cash and A$50m note earning a 6% annual coupon received Up to A$200 million in future proceeds contingent on gold price, pr
Slide 19: Bibiani Gold Mine: Ghana
Bibiani Gold Mine: Ghana For personal use only Strategic review ongoing; targeting completion in H2 2020 2020 Focus Deliver value accretive outcome from strategic review Photo: Processing Plant, Bibiani Gold Mine 18
Slide 20: Financial Performance
Full Year Results Presentation: For the 12 months to 31 December 2019 Financial Performance For personal use only March 2020 Quarter US$20m US$96m Operating Cash Flow Cash and Bullion at 31 March US$25m Capital and Exploration US$212m Net Debt at 31 March Expenditure Note: Capital expenditure includ
Slide 21: Cash Flow Analysis
Cash Flow Analysis For personal use only (US$m) 110 (118) 20 (25) 32 (30) 29 96 87 (10) 66 Cash as at Operating Equity Raising Net Borrowings Capital Expenditure Net Interest Ravenswood Sale Working Capital Cash as at Bullion Cash and Bullion 31 Dec 2019 Cash Flows Proceeds Expense Proceeds / Other
Slide 22: Balance Sheet
Balance Sheet For personal use only New US$300 million flexible low cost senior debt facility secured Capital Structure Simplification Overview • Higher cost US$130 million Toro Gold acquisition bridge facility and US$63 million Mako project loan repaid through a combination of low cost debt and equ
Slide 23: 2020 Outlook and Focus Areas
2020 Outlook and Focus Areas For personal use only 2020 430,000oz at an AISC of US$980/oz Guidance Strengthening sulphide recoveries, Tabakoroni Syama Underground PFS, oxide resource growth Sustained high margin production; accelerated Mako drilling to grow resource base and mine life Balance Streng
Slide 24: Resolute Portfolio
Resolute Portfolio For personal use only SALE COMPLETED 31 MARCH 2020 Syama Mako Bibiani Ravenswood Syama Complex comprises the Syama Mako is a high quality, low-cost Bibiani is a potential long life, high A$100 million of upfront proceeds Underground Mine, a world class, fully producing asset with
Slide 25: Corporate Summary
Corporate Summary (ASX / LSE : RSG) For personal use only Capitalisation A$ £ US$ ASX Price Performance $2.25 40 Share Price $0.95 £0.48 $0.64 Shares on Issue 1,095m $2.00 35 Market Capitalisation $1,035m £527m $659m $1.75 30 Top 10 Shareholders FY20 Guidance $1.50 25 Share Price A$ 1 ICM Limited 12
Slide 26: Responsible Gold Mining Principles
Resolute is committed to the World Gold Council’s For personal use only Responsible Gold Mining Principles 25
Slide 27: 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