Resolute Mining Limited (RSG) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Resolute Mining's Q2 operation results. I'm Chris Egger, your CEO, and today I'm welcomed on the call by Dave Jackson, our CFO, and Bruce Mallott, our Head of Exploration, who is available for Q&A at the end of the presentation. And starting with slide three in our presentation, we believe Resolute Mining had a very strong quarter again with very healthy production of 75,962 ounces, which is similar to what we performed in Q1. at a cost of $1,668. The business continues to perform very strongly on cash flow, and we ended out the quarter with a net cash position of just above $110 million. What was really exciting in Q2, though, is that we acquired the Duropo and ABT projects from Anglico to Shanti, and we announced and closed that transaction on May 1st. And then most recently, we also appointed Gavin Harris as the new chief operating officer, who's made a real immediate impact into the business. So moving to slide four, I wanted to recap where Resu operates today. We have two producing mines, one in Mali, the Syama mine, and another in Senegal, the Mako operation. And we also have two exploration countries, both in Guinea and in Côte d'Ivoire. As just highlighted on the previous page, we've made a very exciting entrance in Côte d'Ivoire to the acquisitions of Europa and ABC. But let's not forget that we also have the Davo, which is a very exciting project of 400,000 ounces at 1.2 grams per tonne. But what this means for the business is that whilst today we're on track to produce 275,000 to 300,000 ounces in 2025, the business has set itself up so that by 2028 we'll be on track to produce well over 500,000 ounces. So we're really forming the basis of being a very attractive, diversified gold producer in West Africa with over 16 million oun...