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Highlights
- RSG’s FY24 revenue from gold and silver sales increased by 26.92% YoY to USD 800.97 million.
- The company recorded an EBITDA of USD 319.49 million in FY24, supported by stable cost of sales and improved operational efficiencies.
- In FY25, RSG expects group gold production of 275,000 - 300,000 ounces in FY25, with an all-in sustaining cost (AISC) of USD 1,650 - 1,750 per ounce.
Resolute Mining Ltd (ASX:RSG) is an Africa-focused gold mining company that operates two gold mines - Syama in Mali and Mako in Senegal. Additionally, the company is advancing the Doropo project in Côte d’Ivoire and exploring tenements across Guinea, Senegal, and Mali.
In the financial year 2024 (FY24), the company’s revenue from gold and silver sales increased by 26.92% YoY to USD 800.97 million and gross profit rose by 76.84% YoY to USD 407.96 million. RSG’s top line growth was driven by 24% YoY increase in average gold price and higher gold sales volume.
In FY24, EBITDA nearly doubled to USD 319.49 million, up from USD 161.21 million, supported by stable cost of sales (excluding depreciation) and improved operational efficiencies.
During the first quarter of the financial year 2025 (Q1FY25), the company reported group gold production of 75,497 ounces, down from 87,687 ounces in Q4FY24. Gold sales for the period reached 64,322 ounces at an average realised price of USD 2,840 per ounce, up 7% from USD 2,659 per ounce in the previous quarter. Net cash increased to USD 100.3 million, up from USD 66.3 million in Q4FY24, supported by cash and cash bullion of USD 122.1 million and an overdraft of USD 21.8 million.
Business Update
On 29 May 2025, RSG provided an update regarding media reports about potential revocation of exploration permits in Guinea, including those held by RSG. The company has not received formal government communication and continues to seek clarification. RSG holds three permits with an inferred resource of 8.4 million tonnes at 1.3 g/t gold. As part of the Doropo acquisition, these permits are to be transferred to AngloGold Ashanti, pending government approval.
Company Outlook
RSG expects group gold production to range between 275,000 and 300,000 ounces in FY25, with an all-in sustaining cost (AISC) of USD 1,650 to USD 1,750 per ounce.
Total capital expenditure guidance is maintained at USD 109 million to USD 126 million, with ongoing investments in the Syama Sulphide Conversion Project (SSCP) and sustaining capital.
The company stated that the SSCP is on track and on budget for mid-2026 startup, and the Doropo project in Côte d’Ivoire is advancing toward a Final Investment Decision by end-2025.
Share performance of RSG
RSG shares closed 7.32% higher at AUD 0.66 per share on 17 June 2025. Over the past year, RSG’s share price has increased by nearly 35% and in past three months, it has increased by 45.05%.
52-week high of RSG is AUD 0.89, recorded on 23 October 2024 and 52-week low is AUD 0.34, recorded on 18 February 2025.
Support and Resistance Summary
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 17 June 2025. The reference data in this report has been partly sourced from EODHD/Others.
Technical Indicators Defined:
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.
Disclaimer
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