Doropo Final Investment Decision Approved
Summary by AI BETAClose X
12 March 2026
Final Investment Decision Approval
for Doropo Gold Project
Resolute Mining Limited ("Resolute" or "the Company") (ASX/LSE: RSG), the Africa-focused gold miner, is pleased to announce that it has formally approved the Final Investment Decision ("FID") for its Doropo Gold Project ("Doropo" or "the Project") in Côte d'Ivoire, marking a transformational step towards construction and production.
Reaching a positive FID on Doropo advances Resolute's goal of becoming a leading multi-asset gold producer in West Africa. This milestone underpins the Company's strategy to grow annual gold production above 500 koz by the end of 2028 and validates the Company's commitment to disciplined growth and generating shareholder value.
The decision follows the completion of extensive technical, economic, environmental, and social evaluations, as well as receipt of the mining permit from the Council of Ministers in Côte d'Ivoire, confirming the Project's robust economics, technical viability, and alignment with the Company's long-term growth strategy. The Project is expected to become a cornerstone asset within the Company's development pipeline, with construction due to commence in H1 2026.
The development of Doropo supports production over an initial mine life of approximately 13 years, with potential opportunities for expansion and value creation throughout the region.
Chris Eger, Managing Director and CEO commented:
"This Final Investment Decision represents an important growth milestone for Resolute that advances our strategy to become a diversified gold producer, on track to achieve annual production of over 500 koz by the end of 2028. This decision reflects the quality of the Doropo Gold Project, the robustness of our technical work, and our confidence in the operating environment. We expect the Project to generate significant shareholder value whilst delivering enduring benefits to host communities and national partners."
Next Steps
Resolute will enter the construction phase of Doropo from a position of balance sheet strength with a net cash position of US$209 million as at 31 December 2025. As the Project advances, Resolute will continue to evaluate all funding options, in the context of prevailing market conditions, to maintain its balance sheet flexibility and as additional growth initiatives are identified.
Figure 1: Approximate Project Timeline
Doropo DFS Highlights
Doropo is situated in the Bounkani Region of Côte d'Ivoire, approximately 480 km northeast of Abidjan and 50 km north of Bouna, near the Burkina Faso border. Table 1 includes operational and financial highlights for the updated DFS released in December 2025 at a US$4,000/oz gold price assumption.
|
100% Basis |
Units |
Value |
|
Mine Life |
Years |
13 |
|
LOM ore processed |
kt |
59,102 |
|
LOM strip ratio |
w:o |
4.9 |
|
LOM feed grade processed |
Au g/t |
1.31 |
|
LOM gold recovery |
% |
88% |
|
LOM gold production |
koz |
2,196 |
|
Upfront capital cost |
US$M |
516 |
|
Life of Mine average (during production): |
|
|
|
Gold, average annual production |
koz |
169 |
|
AISC per ounce |
US$/oz |
1,472 |
|
EBITDA |
US$M |
438 |
|
Project Free Cash Flow (post-tax) |
US$M |
318 |
|
Project years 1 to 5: |
|
|
|
Gold, average annual production |
koz |
204 |
|
AISC per ounce |
US$/oz |
1,360 |
|
EBITDA |
US$M |
554 |
|
Project Free Cash Flow (post-tax) |
US$M |
419 |
|
Post-Tax Economics |
|
|
|
Net present value - 5% |
US$M |
2,543 |
|
Internal Rate of Return |
% |
72% |
|
Payback period (from first production) |
Years |
1.1 |
Table 1: Economic Summary
The post-tax NPV (100% basis) sensitivity comparing varying discount rate percentages and gold price is presented in Table 2.
|
|
$3,000 |
$4,000 |
$5,000 |
|
5% |
1,457 |
2,543 |
3,629 |
|
7% |
1,245 |
2,202 |
3,159 |
|
10% |
988 |
1,789 |
2,590 |
Table 2: Sensitivity of post-tax NPV (US$M) to Discount Rate and Gold Price (US$/oz)
Contact
|
Resolute Matthias O'Toole-Howes motoolehowes@resolutemining.com +44 203 3017 620 |
Public Relations Jos Simson, Tavistock +44 207 920 3150
Corporate Brokers Jennifer Lee, Berenberg +44 20 3753 3040 Tom Rider, BMO Capital Markets +44 20 7236 1010 |
Authorised by Mr Chris Eger, Managing Director and Chief Executive Officer
Competent Person Statement
The information in this announcement that relates to Mineral Resources and Ore Reserves is extracted from the Company's market announcement titled "Updated Doropo DFS" released to ASX on 15 December 2025.
The Company confirms that it is not aware of any new information or data that materially affects the information included in that announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.
The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.
Cautionary Statement about Forward-Looking Statements
This announcement contains certain "forward-looking statements" including statements regarding our intent, belief or current expectations with respect to Resolute's business and operations, market conditions, results of operations and financial condition, and risk management practices. The words "likely", "expect", "aim", "should", "could", "may", "anticipate", "predict", "believe", "plan", "forecast" and other similar expressions are intended to identify forward-looking statements. Indications of, and guidance on, future earnings, anticipated production, life of mine and financial position and performance are also forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Resolute's actual results, performance and achievements or industry results to differ materially from any future results, performance or achievements, or industry results, expressed or implied by these forward-looking statements. Relevant factors may include (but are not limited to) changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which Resolute operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. The production target in the updated DFS contains no Inferred Mineral Resources. To the extent a production target is based on those Inferred Mineral Resources, there is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that future exploration work will result in the determination of inferred mineral resources or that the production target itself will be realised.
Forward-looking statements are based on Resolute's good faith assumptions as to the financial, market, regulatory and other relevant environments that will exist and affect Resolute's business and operations in the future. Resolute does not give any assurance that the assumptions will prove to be correct. There may be other factors that could cause actual results or events not to be as anticipated, and many events are beyond the reasonable control of Resolute. Readers are cautioned not to place undue reliance on forward-looking statements, particularly in the current economic climate with the significant volatility, uncertainty and disruption caused by the COVID-19 pandemic. Forward-looking statements in this document speak only at the date of issue. Except as required by applicable laws or regulations, Resolute does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in assumptions on which any such statement is based. Except for statutory liability which cannot be excluded, each of Resolute, its officers, employees and advisors expressly disclaim any responsibility for the accuracy or completeness of the material contained in these forward-looking statements and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in forward looking statements or any error or omission.
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