Slide 1: Half year results presentation – 30 June 2022
For personal use only Half year results presentation – 30 June 2022 25 August 2022 ASX/LSE - RSG 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: H1 2022 Summary
3 For personal use only H1 2022 Summary
Slide 4: H1 2022 Highlights
H1 2022 Highlights • TRIFR of 0.89 the lowest for 12 months For personal use only • Gold poured of 170,903oz, a 5% increase on H1 2021 • AISC of $1,463/oz - a 15% increase from H1 2021 reflecting higher fuel and consumable prices and adverse non-cash adjustments • Revenue of $317.7m from gold sales
Slide 5: Operational overview
Operational overview For personal use only Total Gold Production All-In Sustaining Cost 170,903oz $1,463/oz Total Gold Sold Average Price Received 173,717oz $1,824/oz 5
Slide 6: Multi asset production base
Multi asset Multi asset production base production base For personal use only Oz Chart Title AISC $/oz H1 2022 reflects: 180,000 1,600 160,000 1,400 • 4% increase in Syama Sulphide 140,000 production from H1 2021 following 84,068 67,224 1,200 63,506 63,111 planned plant shutdown in H1 2022 120,000 1
Slide 7: Financial Performance
Financial Performance $318m $78m For personal use only Revenue EBITDA $61m $4m Operating cash flow Underlying profit after tax* $82m $183m Cash and bullion Net debt 7 *Reported net loss after tax of $24m after adjusting for abnormal items
Slide 8: Earnings analysis
Earnings analysis Revenue • Gold sales of 173.7koz, at an average price of $1,824/oz (H1 2021: 151.5koz, $1,723/oz). • Higher ounces sold reflect: For personal use only Profit and Loss Analysis (#039;000s) H1 2022 H1 2021 o Improved performance for Mako and Syama oxide compared to H1 2021 Revenue 317,6
Slide 9: Cash Flow Analysis
Cash Flow Analysis For personal use only • Operating Cash flows include $10.3m of royalties, $15.3m of VAT and taxes, and movements in Bullion • Asset sale proceeds of $30m from the Bibiani sale; and $18.2m from the sale of Orca Gold Inc and Turaco Gold Ltd shares • $25m Term Loan repayment and $30m
Slide 10: Strengthening Balance Sheet
Strengthening Balance Sheet For personal use only Hedging At 30 June 2022, Resolute’s forward sales commitments were: US Dollar Forward Sales Forward Delivery Quarter Price ($/oz) (oz) September 2022 $1,803 60,000 December 2022 $1,848 50,000 March 2023 $1,873 35,000 June 2023 $1,953 30,000 September
Slide 11: Corporate Activities
Corporate Activities For personal use only Bibiani Gold Mine Ravenswood Gold Mine1 On 24 August 2022, Resolute agreed with Asante Gold Corporation • A$50m 6% promissory note payable by 2027 (Asante) a deferred payment arrangement for the final tranche of $30m (plus $2.7m in respect of an environment
Slide 12: 2022 Outlook
12 For personal use only 2022 Outlook
Slide 13: Syama Exploration
Syama Exploration Syama Greenstone Belt For personal use only • Resolute controls the entire 85km strike length of the Syama Greenstone Belt o Highly endowed gold belt with total Mineral Resources of 8.7 Moz o Ore Reserves of 3.4 Moz o 3 Moz production to date since 1990’s o Very well-known geology
Slide 14: Syama North
Syama North For personal use only December 2021 Resource • 11.9Mt @ 2.85g/t Au for 1.1Moz • 1.5g/t Au cut off A21 Pit Quartz Vein Hill to A21 • Present model of 3km strike Quartz Vein Hill Pit length • Drilled to 150m below surface • Mineralisation remains open at depth • Excellent drill intersectio
Slide 15: Syama North Exploration
Syama North Exploration For personal use only Significant drill intersections of sulphide mineralisation below previously mined A21 pit oxides • Exploration programs in 2022 focused on expanding the 2021 outlined >1 million ounces at 2.85 g/t of mainly sulphide Mineral Resources at Syama North (at a
Slide 16: Senegal
Senegal Near mine exploration focus to support For personal use only the capital investment in the operation Mako • Several near-mine targets on Mine Lease • Mako NW target, soil anomaly parallel to Mako mine Laminia JV • Recently signed JV on Laminia permit located 15km from Mako • Outcropping gold
Slide 17: 2022 Guidance
2022 Guidance For personal use only Production and AISC • Maintained at 345,000oz at an AISC of $1,425/oz 2022 Capex • Sustaining capex included in AISC: $63m o $33m capitalised stripping costs (Mako: $22m; Syama: $12m) o $16m in tailings storage and several minor sustaining capex projects • Non-sus
Slide 18: Contact
For personal use only Contact James Virgo GM – Finance and IR www.rml.com.au Email: contact@rml.com.au Phone: +61 8 9261 6100 18