Slide 1: Maintaining Profitability During Development
For personal use only Maintaining Profitability During Development Mine Gold. Create Value. 2018 Full Year Results Presentation | August 2018
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: Mine Gold. Create Value.
For personal use only Mine Gold. Create Value. FY19 Guidance Portfolio Global Mineral Resources Market Landholding 300koz at 3 Mines 16.5Moz Capitalisation 5,300 A$1bn US$960/oz Multiple Strategic Global Ore Reserves km2 (A$1,280/oz) Investments 5.9Moz 2 Note: Global Ore Reserves and Global Mineral
Slide 4: Corporate Summary
Corporate Summary (ASX:RSG) For personal use only Capitalisation A$ US$ Price Performance and Trading Share Price $1.34 $0.99 YTD Daily Trading Averages : Volume: 6.4m / Value: A$7.8m Shares Outstanding 752.8m Market Capitalisation $1,009m $746m Cash, Bullion, Investments $112m $83m Borrowings $33m
Slide 5: FY18: Maintaining Profitability During Development
FY18: Maintaining Profitability During Development For personal use only Syama DFS Update delivers >300kozpa at US$746/oz LOM AISC (14 year life) Development progressing well at Syama Underground; on track for sub-level caving by December 2018 Ravenswood Expansion Project delivers 115kozpa at US$823
Slide 6: Mine Gold. FY18
Mine Gold. For personal use only FY18 284,185oz US$1,052/oz Total Gold Production All-In Sustaining Cost (A$1,355/oz) 262,381oz Total Gold Sold US$1,318/oz Ave Price Received (A$1,703/oz) 5
Slide 7: Create Value. FY18
Create Value. For personal use only FY18 A$446m A$112m Revenue from Gold and Silver Sales Cash, Bullion and Listed Investments A$78m 35% Net Profit After Tax Increase in Global Mineral Resources A$0.09 A$0.02 Diluted Earnings Per Share Dividend Per Share 6
Slide 8: Dividend Declared of 2.0c per share
Dividend Declared of 2.0c per share For personal use only Resolute’s Commitment to Shareholder Returns Dividend Summary • The 2.0c per share cash or gold dividend payment will total Start building up A$14.8m which equates to 3.3% of FY18 revenue your GOLD today • Shareholders with 5,000 shares or mo
Slide 9: Financial Performance During Development
Financial Performance During Development For personal use only Revenue (A$m) EBITDA (A$m) Net Profit After Tax (A$m) Margin Gross Profit 555 541 35% 32% 33% 12% 71 155 177 69 459 446 180 176 201 158 166 78 FY15 FY16 FY17 FY18 52 FY15 FY16 FY17 FY18 FY15 FY16 FY17 FY18 (569) Return On Equity (%) Earn
Slide 10: Operating Performance During Development
Operating Performance During Development For personal use only Production (koz) FY19: 300koz Gold Sales (koz) 329 330 341 315 313 317 284 262 FY15 FY16 FY17 FY18 FY15 FY16 FY17 FY18 All-In Sustaining Cost (US$/oz) FY19: US$960/oz Realised Price (US$/oz) A$/oz A$/oz 1,094 1,200 1,132 1,355 1,468 1,62
Slide 11: Extensive Reserve and Resource Growth
Extensive Reserve and Resource Growth For personal use only Resolute has added ~8Moz to its Global Resource since 2010 Global Mineral Resources FY18 Reserves Contribution (Moz) 5.9 2010 2018 8.1Moz 16.5Moz 5.3 Global Ore Reserves 2010 2018 2.9Moz 5.9Moz Discovery Cost of A$36.5 per Reserve Ounce 10
Slide 12: Significant Investment Enables Transformation
Significant Investment Enables Transformation For personal use only Expenditure (A$m) Mine Life (Years) Operating 275 Capital Exploration Strategic Investment 2012 2018 Statistics 140 • +300kozpa • US$746/oz AISC 93 55 Syama 6 14 • Fully automated sub- level caving FY15 FY16 FY17 FY18 • ~115kozpa Re
Slide 13: Clear Pathway to 500kozpa
Clear Pathway to 500kozpa For personal use only Production Outlook (koz) 500 Annual Gold Production (koz) 400 300 200 100 FY18 FY19 FY20 FY21 FY22 Note: The target ounces are entirely based on current Ore Reserves. All Ore Reserves which underpin the plan have been prepared by a Competent Person or
Slide 14: 2019 Priorities
2019 Priorities For personal use only Assets Financial • Completion of Syama underground development • Reduce AISC to drive improved margins • Commencement of open pit mining at Tabakoroni • Disciplined capital prioritisation and management • Progress Ravenswood Expansion Project • Generation of str
Slide 15: Invest in Resolute
Invest in Resolute For personal use only Transformation enables bold ambition Proven operator: Resolute has mined more than 8Moz from 9 gold mines in Australia and Africa Long life, low cost, large scale assets: 14 year life at operating assets; clear pathway to 500kozpa; AISC of US$746/oz at Syama
Slide 16: Portfolio Summary
Portfolio Summary For personal use only Syama Ravenswood Bibiani Strategic Gold Mine Gold Mine Gold Mine Investments A world class, fully automated sub-level Proven producing asset with multiple Recent feasibility study update Multiple strategic positions in highly cave gold mine on track to be deli
Slide 17: Syama Gold Mine
For personal use only Syama Gold Mine 16
Slide 18: Syama Gold Mine
Syama Gold Mine For personal use only Sub-level caving from December 2018 FY18 Summary Statistics DFS Update • Production: 194koz LOM AISC reduced to US$746/oz (from US$881/oz) • Cash Cost: A$1,196/oz (US$928/oz) UG Probable Reserve increased by 38% to 3.0Moz • AISC: A$1,286/oz (US$998/oz) • Average
Slide 19: Syama Underground
For personal use only Syama Underground 18
Slide 20: Sub Level Cave Mining at Syama
Sub Level Cave Mining at Syama For personal use only A world class sub-level cave gold mine in the making • Controlled, high-productivity ore delivery • Full automation maximises operating efficiencies • Early access to ore without leaving a crown pillar below the open pit • A flexible method with a
Slide 21: Syama Underground DFS Update
Syama Underground DFS Update For personal use only Overview Improvements made to all aspects of Syama Redesign and rescheduling of mine plan 38% increase in UG Ore Reserves to 3.0Moz Mine life extended by 3 years to 2032 Introduction of autonomous mining Site power generation facilities improved Low
Slide 22: Underground DFS Update (cont'd): Long Section
Underground DFS Update (cont’d) For personal use only Long Section: Current Plan relative to Original DFS A key element of the enlarged Reserve is the increased mining footprint DFS Update provides for expanded production of ore from sub-level open stope mining of zones outside the sub-level cave li
Slide 23: Underground DFS Update (cont'd): Production Schedule
Underground DFS Update (cont’d) For personal use only Production Schedule: DFS Update v Original DFS 3 DFS Actual/DFS Update 3 Ore Tonnage (Mt) 2 2 1 1 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 Development and Stoping Tonnages 3 Development Stoping 3 Ore Tonnage (Mt) 2 2
Slide 24: Automation in Mining and Resolute's Partnership with Sandvik
Automation in Mining and Resolute’s Partnership with Sandvik For personal use only 23
Slide 25: Partnership with Sandvik
Partnership with Sandvik For personal use only A formalised commerical relationship exists between Resolute and Sandvik for the full automation of the Syama Underground including the delivery of mobile and fixed equipment and delivery of training to maintenance and operational personnel Sandvik is a
Slide 26: Automation at Syama
Automation at Syama For personal use only There are significant benefits associated with automation and the connected communication and information technology systems Increased machine productivity and performance Reduction in number of machines required leading to capital and maintenance savings Re
Slide 27: Syama and AutoMine
Syama and AutoMine® For personal use only Increased productivity and lower operating costs Greater utilisation of equipment with 24/7 continuous production Longer operating hours = more tonnes = lower unit costs Production execution from remote locations = lower unit costs Less damage to equipment =
Slide 28: Processing
For personal use only Processing 27
Slide 29: Processing Overview
Processing Overview For personal use only • Series of processing upgrades with the objective of increasing the total sulphide gold recovery to a minimum of 85% completed • The process upgrades included: – Flotation Tails CIL: calcine CIL circuit has been repurposed to treat the flotation tails – New
Slide 30: Exploration
For personal use only Exploration 29
Slide 31: Active, Multi-Rig Exploration Program
Active, Multi-Rig Exploration Program For personal use only Resolute controls 80km strike length of Syama greenstone belt 30
Slide 32: Nafolo: A Major Gold Discovery at Syama
Nafolo: A Major Gold Discovery at Syama For personal use only Extension potential for existing Syama underground • Remains open in all directions • Untested to the south and at depth • All drillholes to date have intersected gold mineralisation • Nafolo mineralisation can potentially be accessed fro
Slide 33: Tabakoroni: High Grade UG Mine Potential
Tabakoroni: High Grade UG Mine Potential For personal use only Numerous wide high grade gold intersections • Located 35km south of Syama • TARD621 returned 41m at 12.15g/t Au: displays the significant grades and widths seen in the main zone mineralisation • The current drilling program is ongoing wi
Slide 34: Tabakoroni: Standalone UG Mine Potential
Tabakoroni: Standalone UG Mine Potential For personal use only Coherent High Grade Zones >50 gram metres Visible gold in new Tabakoroni core samples 33
Slide 35: Syama Gold Mine
Syama Gold Mine For personal use only A world class fully automated underground gold mine in the making Mine Life Production AISC 14 Years +300kozpa US$746/oz 34
Slide 36: Ravenswood Gold Mine
For personal use only Ravenswood Gold Mine 35
Slide 37: Ravenswood Gold Mine
Ravenswood Gold Mine For personal use only Multiple open pits underpin long-term production FY18 Summary Statistics Project Study Update • Production: 90koz Significant enhancements to Ravenswood Expansion Project • Cash Cost: A$1,330/oz (US$1,019/oz) • AISC: A$1,394/oz (US$1,071/oz) All required ap
Slide 38: Ravenswood Expansion Project: Study Update
Ravenswood Expansion Project: Study Update For personal use only Overview Summary Statistics Physicals Underground Mining Received all required government approvals Ore Mined kt 540 Ore Mined Gold Grade g/t 2.33 Gold Contained (ROM) koz 40 Optimised mining and processing schedule Open Pit Mining Ore
Slide 39: Ravenswood Expansion Project: Study Update
Ravenswood Expansion Project: Study Update For personal use only Proposed Sequencing Life of Mine Gold Production 160,000 2.00 Mining at Mt Wright to be extended to the end of FY19, with 140,000 Gold Produced Milled Grade Milled Grade (g/t Au) Gold Produced (oz) mining and processing of a further of
Slide 40: Sarsfield and Buck Reef West
Sarsfield and Buck Reef West For personal use only Two large scale, bulk tonnage open pits Buck Reef West Sarsfield 39
Slide 41: Bibiani Gold Mine
For personal use only Bibiani Gold Mine 40
Slide 42: Bibiani Gold Mine
Bibiani Gold Mine For personal use only Potential for a long life, high margin project with robust economics Study Update Summary Statistics Units 2018 Study 2016 Study Underground development Environmental Permit Authorisation received Ore development m 23,883 9,841 Waste development m 10,234 16,38
Slide 43: Bibiani Study Update
Bibiani Study Update For personal use only Development Schedule Recovery Schedule 160 1,200 4.5 140 1,000 3.75 120 800 3 100 Ounces (koz) Ore tonnes (kt) Grade (g/t) 80 600 2.25 60 400 1.5 40 200 0.75 20 0 0 0 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 Mined ounces Recovered ounces (Effec
Slide 44: Strategic Investments
For personal use only Strategic Investments 43
Slide 45: Strategic Investments Overview
Strategic Investments Overview For personal use only Objective Establish a portfolio of investments in emerging 19% stake 27% stake gold explorers to expand our project pipeline and provide a source of medium term potential growth opportunities 27% stake 17% stake Focus Equity investments in well ma
Slide 46: Community, Safety and Environment
For personal use only Community, Safety and Environment 45
Slide 47: Community Highlights
Community Highlights For personal use only Syama Workforce Stability Agreement signed with Syama Workers Union in Mali to secure industrial relations environment Malian Talent Development Program enters second year at Syama to advance the skills, capabilities and careers of Malian employees Tabakoro
Slide 48: The Resolute Foundation
The Resolute Foundation For personal use only Mine Gold Create (More) Value • The Resolute Foundation is the vehicle through which Resolute will deliver future TARGET THE MANAGE THE LEVERAGE community development initiatives EFFORT CONTRIBUTIONS SPEND • The Resolute Foundation will drive fiscal disc
Slide 49: R-CARE at Resolute
R-CARE at Resolute For personal use only Resolute’s approach to Safety Committed: Accountable: • to working safely, all of the time • to the people we work with • to taking pride, in everything • for the quality of our work we do • to the expectation of our • to improving the way we business work Re
Slide 50: Environment Update
Environment Update For personal use only Heritage Agreements signed for Ravenswood Expansion Project Environmental Approval received the Buck Reef West Graduate Environment Officer Program at Ravenswood Environmental Permit Authorisation received to recommission Bibiani New Syama power concept to ut
Slide 51: For personal use only
For personal use only John Welborn Level 2, Australia Place Managing Director & CEO 15-17 William St Perth, Western Australia 6000 Jeremy Meynert General Manager – T: +61 8 9261 6100 Business Development & F: +61 8 9322 7597 Mine Gold. Create Value. Investor Relations E: contact@rml.com.au