September 2025 Quarterly Activities Report

Summary by AI ^BETAClose X

Resolute Mining Limited's Q3 2025 activities report highlights group gold production of 59,857 ounces and quarterly gold sales of 63,483 ounces at an average realized price of $3,404 per ounce. The All-In Sustaining Costs (AISC) increased to $2,205 per ounce. Quarterly capital expenditure was $26.5 million, with $18.8 million allocated to non-sustaining and $7.7 million to sustaining capital. Operating cash flow generation reached $67.8 million. The company's net cash position is $136.6 million, including cash and bullion of $168.2 million, with available liquidity of $244.5 million. The unaudited EBITDA for the nine months ending September 30, 2025, was $292.8 million. Year-end production guidance is narrowed to 275-285 koz, and the Group AISC is revised to $1,750 - 1,850/oz.

Disclaimer*

Hole_ID	North (WGS)	East (WGS)	RL (m)	Dip	Azi (WGS)	EOH (m)	From (m)	To (m)	Width (m)	Au (g/t)
BADD0022	1415324	794256	118	-51	134	290	232	245	13	1.57
BADD0024	1410778	799985	140	-51	123	111	22	54	32	2.79
BADD0026	1410734	799915	133	-52	120	178	78	97	19	0.95
BADD0028	1410682	799908	132	-51	125	161	84	96	12	1.97
BADD0030	1410793	800141	128	-51	127	224	36	46	10	4.56
BADD0031	1410857	799972	141	-53	125	311	24	68	44	1.49
BADD0032	1410893	800015	136	-53	127	238	177	180	3	11.03
BADD0038	1410746	799859	139	-50	122	182	72	82	10	1.67
BADD0038	1410746	799859	139	-50	122	182	95	107	12	1.82
BADD0041	1410878	799910	145	-51	123	157	101	123	22	1.8
BADD0042	1410763	799915	144	-52	124	140	79	95	16	1.18
BADD0043	1410846	799995	141	-51	128	158	1	13	12	1.49
BADD0043	1410846	799995	141	-51	128	158	18	29	11	1.38
BADD0044	1410880	799985	137	-50	124	153	19	32	13	2.1
BADD0045	1410678	799874	134	-52	123	188	109	139	30	1.96
BADD0050	1410827	799860	148	-52	125	240	117	130	13	2.4
BADD0051	1410788	799830	150	-52	124	245	49	52	3	5.51
BADD0051	1410788	799830	150	-52	124	245	151	173	22	0.9
BADD0053	1410743	799820	143	-53	120	239	146	169	23	1
BADD0055	1410787	799849	149	-50	124	205	136	152	16	1.69
BADD0057	1410834	800088	128	-51	118	176	123	139	16	3.79
BARC00484	1410613	799870	135	-50	125	186	69	84	15	1.8
BARC00494	1410579	800022	132	-49	125	147	49	52	3	6.52
BARC00501	1410845	799907	147	-51	125	144	86	121	35	2.29
BARC00503	1410692	800107	129	-52	125	204	79	106	27	2.5
BARC00503	1410692	800107	129	-52	125	204	117	129	12	1.3
BARC00507	1410665	799896	132	-50	125	156	83	100	17	1.63
BARC00510	1410869	800005	139	-49	125	160	10	26	16	1.43
BARC00512	1410745	799953	142	-50	125	114	41	78	37	2.76
BARC00514	1410706	799864	136	-51	125	174	148	157	9	2.88
BARC00515	1410829	800101	126	-48	125	150	101	118	17	1.54
BARC00516	1410724	799805	142	-52	124	173	157	173	16	2.05
BARC00525	1410814	799888	148	-51	125	170	87	103	16	1.66
BARC00525	1410814	799888	148	-51	125	170	109	144	35	2.21
BARC00526	1410745	799984	137	-49	125	102	30	63	33	1.41
BARC00527	1410802	799907	150	-50	125	94	65	76	11	2.47
BARC00527	1410802	799907	150	-50	125	94	82	94	12	1.89
BARC00527A	1410800	799907	147	-51	125	162	97	112	15	1.98
BARC00534	1410783	799931	146	-48	126	138	51	93	42	1.32
BARC00538	1410876	799948	144	-50	125	120	66	89	23	1.18
BARC00539	1410898	799924	144	-50	125	132	76	90	14	2.39
BARC00539	1410898	799924	144	-50	125	132	94	111	17	1.64
BARC00543	1410859	799890	147	-51	125	144	124	133	9	2.92
BARC00544	1410798	800146	128	-49	126	150	21	38	17	1.78
BARC00545	1410829	799976	142	-51	125	120	28	43	15	1.81
BARC00548	1410755	800008	139	-52	125	80	1	19	18	2.5
BARC00550	1410826	800020	141	-52	125	60	27	36	9	2.22
BARC00554	1410795	800103	125	-49	125	132	77	86	9	2.87
BARC00557	1410740	799997	137	-50	125	156	47	76	29	1.6
BARC00558	1410766	799952	143	-52	125	150	41	70	29	1.58
BARC00573	1414174	792865	106	-52	130	114	1	13	12	1.52
BARC00573	1414174	792865	106	-52	130	114	64	72	8	2.78
BARC00575	1414200	792876	109	-50	130	126	56	68	12	1.86
BARC00578	1414263	792854	110	-50	130	126	71	105	34	1.16
BARC00581	1414266	792883	111	-50	130	132	44	62	18	1.41
BARC00582	1414234	792794	108	-50	130	187	135	141	6	3.03
BARC00585	1414165	792853	105	-50	130	108	2	17	15	1.28
BARC00585	1414165	792853	105	-50	130	108	72	93	21	1.11
BARC00600	1415035	794300	131	-50	130	84	32	64	32	1.89
BARC00604	1415123	794312	131	-51	130	90	28	51	23	0.7
BARC00611	1414970	794294	131	-52	130	72	8	19	11	2.22
BARC00614	1414892	794192	135	-51	130	114	47	64	17	1.24
BARC00618	1414882	794178	136	-50	130	120	57	78	21	1.15
BARC00620	1414706	794112	164	-51	130	84	18	33	15	1.08
BARC00623	1414732	794113	168	-53	130	120	20	32	12	4.13
BARC00640	1414816	794162	157	-51	130	114	38	50	12	1.48

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Sampling techniques	● Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. ● Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. ● Aspects of the determination of mineralisation that are Material to the Public Report. ● In cases where 'industry standard' work has been done this would be relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	Sampling has been by diamond drill coring and reverse circulation chip. Diamond core has been geologically logged and sampled to geological contacts with nominal sample lengths between 0.3m and 4.5m (most commonly 1m). Core selected for assay is systematically cut lengthwise into half core by diamond blade rock saw, numbered and bagged before dispatch to the laboratory for analysis. All core is photographed, wet and dry. Reverse circulation chips are geologically logged and sampled on regular lengths of 1m. Chip material selected for assay is systematically divided to a 1/8 proportion using a rotary splitter attached to the cyclone sample recovery system, numbered and bagged before dispatch to the laboratory for analysis.
Drilling techniques	● Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).	Diamond core drilling with standard inner tubes. NTW diameter (57.1 mm) to target depth where possible with some smaller NQ2 intervals as tails. Core is marked and oriented. Reverse Circulation drilling with 4" or 4.5" hammer and 4" rod string to target depth.
Drill sample recovery	● Method of recording and assessing core and chip sample recoveries and results assessed. ● Measures taken to maximise sample recovery and ensure representative nature of the samples. ● Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	Diamond core recoveries are measured in the core trays and recorded as recovered metres and recovered % as part of the geological logging process. RC recoveries are monitored by chip sample weight recording. Sample weights have been analysed for cyclicity with no relationship between sample weight and depth noted.
Logging	● Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. ● Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. ● The total length and percentage of the relevant intersections logged.	Diamond core has been geologically and geotechnically logged to a level of detail to support appropriate classification and reporting of a Mineral Resource. Reverse circulation chip samples have been geologically logged to a level of detail to support appropriate classification and reporting of a Mineral Resource. Total length of DD logged is 2,100m. Total length of RC logged is 37,360m.
Sub-sampling techniques and sample preparation	● If core, whether cut or sawn and whether quarter, half or all core taken. ● If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. ● For all sample types, the nature, quality and appropriateness of the sample preparation technique. ● Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. ● Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. ● Whether sample sizes are appropriate to the grain size of the material being sampled.	Historic core has been systematically cut lengthwise into half core with a diamond saw. RC samples representing a 1/8 split are taken directly from the rig mounted cyclone by rotary splitter, sample weight is recorded, sample is bagged in pre numbered plastic and sample tickets are inserted and bag is sealed for transport to preparation facility. Generally, one of each of the two control samples (blank or CRM standard) is inserted into the sample stream every tenth sample. An industry standard, documented process of sample mark-up, core splitting, bagging and ticketing and recording is in place at the Mako site. All samples were submitted to external certified analytical laboratory, MSA Bamako. The 3kg sample were considered appropriate sample size for PhotonAssay analysis. MSA prepares the sample by weighing, drying, and crushing the entire sample to >70% passing 2mm, then into jarred up for PhotonAssay.
Quality of assay data and laboratory tests	● The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. ● For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. ● Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	Au assays are determined by Chrysos Photon assay at MSA labs in Bamako. Laboratory and assay procedures are appropriate for Mineral Resource estimation. QAQC consisted of standards, blanks and laboratory duplicates (both coarse and pulp). The QAQC sample results showed acceptable levels of accuracy and precision. The assay data is considered to be suitable for Mineral Resource estimation.
Verification of sampling and assaying	● The verification of significant intersections by either independent or alternative company personnel. ● The use of twinned holes. ● Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. ● Discuss any adjustment to assay data.	All aspects of the core sampling, assay procedures and QA/QC program have been reviewed and were judged to be suitable for use in the estimation of Mineral Resources. Drill hole assay result data has been checked against the original hardcopy laboratory assay reports for a representative number of holes. Below detection limit values (negatives) have been replaced by background values. Un-sampled intervals have been retained as un-sampled (null or blank). All of these intervals occur within the waste domain and have no material impact on the estimate.
Location of data points	● Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. ● Specification of the grid system used. ● Quality and adequacy of topographic control.	Drill holes have been surveyed by Mako Mine staff surveyors using a Leica GS14, GS15, and GS18 dGPS. Downhole surveys were undertaken by the drilling contractor using a Reflex DeviGyro tool with a reading taken every 3m downhole. Grid system is based on the UTM28N grid on the WGS84 ellipsoid. Survey heights are based on PRS097 (with independent checks on AusPos) and are orthometric (i.e. msl). A topographic surface with 1m resolution has been generated from a Lidar survey of the area.
Data spacing and distribution	● Data spacing for reporting of Exploration Results. ● Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. ● Whether sample compositing has been applied.	There is no Resource estimate on the various prospects to date
Orientation of data in relation to geological structure	● Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. ● If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	Geological structures are interpreted to be steeply-dipping to the north-west. Drilling intersects structures from the north west, generally dipping -60⁰ below horizontal. Drilling primarily targeted shears within volcanics and metasediments. The drilling orientation is adequate for a non-biased assessment of the orebody with respect to interpreted structures and interpreted controls on mineralisation.
Sample security	● The measures taken to ensure sample security.	Labelling and submission of samples complies with industry standard.
Audits or reviews	● The results of any audits or reviews of sampling techniques and data.	The competent person audited the sample preparation laboratory in 2024. No material issues were found.

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Mineral tenement and land tenure status	● Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. ● The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	The Bantaco Permit is held by SNEPAC SARL. Toro Gold Limited is in a joint Venture with SNEPAC with Toro being the manager and sole funder of the joint Venture. Toro Gold Limited is a company controlled by Resolute Limited. The permit is in good standing.
Exploration done by other parties	● Acknowledgment and appraisal of exploration by other parties.	Past exploration has been performed by Ashanti Gold, and Randgold Resources on a previously held Research Permit which was relinquished prior to being held by SNEPAC SARL. Randgold had undertaken soil geochemistry, surface mapping and RAB drilling on the Research Permit. Ashanti Gold undertook RAB and diamond drilling. Subsequently SNEPAC carried out surface geochemistry, auger drilling and RC drilling on the current permit.
Geology	● Deposit type, geological setting and style of mineralisation.	Mineralisation is currently interpreted to be a standard Birimian orogenic gold deposit style. Gold is related to shears within volcanics and meta-sediments. Intensity of gold mineralisation appears to correlate with the intensity of pyrite development and exhibits lateral and vertical continuity through the mineralised zone. Geometry of the gold mineralisation is generally NNE to NE striking and vertical to steep westerly dipping. The zones vary between 4 and 30m wide.
Drill hole Information	● A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o Whole length. ● If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	Easting, Northing and RL of the drill hole collars are based on the UTM28N grid on the WGS84 ellipsoid. Survey heights are based on PRS097 (with independent checks on AusPos) and are orthometric (i.e. msl). . Dip is the inclination of the hole from the horizontal. For example, a vertically down drilled hole from the surface is -90°. Azimuth is reported in degrees as the grid direction toward which the hole is drilled. Down hole length of the hole is the distance from the surface to the end of the hole, as measured along the drill trace. Intersection depth is the distance down the hole as measured along the drill trace. Intersection width is the downhole distance of an intersection as measured along the drill trace. Drill hole length is the distance from the surface to the end of the hole, as measured along the drill trace.
Data aggregation methods	● In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. ● Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. ● The assumptions used for any reporting of metal equivalent values should be clearly stated.	Sample intervals in this document are all 1m and are not composited in the drill intersections Top-cuts have not been used in the drill intersections. The assay intervals are reported as down hole length as the true width variable is not known. Gold assays are rounded to two decimal places. No metal equivalent reporting is used or applied.
Relationship between mineralisation widths and intercept lengths	● These relationships are particularly important in the reporting of Exploration Results. ● If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. ● If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. 'down hole length, true width not known').	The intersection width is measured down the hole trace and may not be the true width. All drill results are downhole intervals only due to the variable orientation of the mineralisation.
Diagrams	● Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	A plan view is contained within this document. A table of intercepts is also included in this document.
Balanced reporting	● Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	All significant assay results from Resolute work are provided in this report. The report is considered balanced and provided in context.
Other substantive exploration data	● Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	No other exploration data is considered meaningful and material to this document.
Further work	● The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). ● Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Future exploration may involve the drilling of more drillholes, both diamond core and reverse circulation, to further extend the mineralised zones and to collect additional detailed data on known mineralized zones. Geophysical exploration is also planned as part of the future exploration of the permit.

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Group Summary	Units	September 2025 Quarter	June 2025 Quarter	September 2024 Quarter	Nine Months 2025 YTD	Nine Months 2024 YTD
Mining
Ore Mined	t	672,177	1,374,517	1,368,297	3,392,489	4,691,145
Mined Grade	g/t	2.10	2.03	2.06	2.02	2.10
Processing
Ore Processed	t	1,520,742	1,557,787	1,529,134	4,628,717	4,505,571
Processed Grade	g/t	1.48	1.82	2.00	1.70	2.05
Recovery	%	82	84	85	83	86
Gold Poured	oz	59,857	75,962	85,043	211,318	252,182
Sales
Gold Sold	oz	63,483	80,797	95,242	208,603	252,563
Average Realised Price	$/oz	3,404	3,261	2,493	3,175	2,292
Financials
Total Capital Expenditure	$m	26.6	17.6	26.6	68.9	71.0
Net (Cash)/Debt	$m	(136.6)	(110.4)	(145.6)	(136.6)	(145.6)
AISC	$/oz	2,205	1,668	1,452	1,834	1,444

Summary		Units	September 2025 Quarter	June 2025 Quarter	September 2024 Quarter	Nine Months 2025 YTD	Nine Months 2024 YTD
Mining	Sulphide
	Ore Mined	t	490,154	447,538	554,221	1,450,177	1,837,719
	Mined Grade	g/t	2.25	2.44	2.50	2.38	2.58
	Oxide
	Ore Mined	t	182,023	286,431	111,098	700,299	557,954
	Mined Grade	g/t	1.70	1.35	1.40	1.46	1.58
Processing	Sulphide
	Ore Processed	t	614,262	576,049	622,620	1,777,320	1,743,624
	Processed Grade	g/t	2.08	2.22	2.63	2.22	2.68
	Recovery	%	75	76	78	76	79
	Gold Poured	oz	31,833	31,461	42,878	99,438	119,515
	Gold Sold	oz	37,419	32,767	47,776	100,919	119,784
	Oxide
	Ore Processed	t	349,494	395,432	352,933	1,174,109	1,105,208
	Processed Grade	g/t	0.91	0.95	1.06	0.97	1.23
	Recovery	%	79	81	84	82	84
	Gold Poured	oz	8,085	9,563	10,113	29,740	37,535
	Gold Sold	oz	8,085	9,563	10,113	29,740	37,535
Cost	Syama combined
	Total Capital Expenditure	$m	26.0	16.6	22.6	42.5	39.6
	AISC	$/oz	2,358	2,134	1,533	2,092	1,487

Summary	Units	September 2025 Quarter	June 2025 Quarter	September 2024 Quarter	Nine Months 2025 YTD	Nine Months 2024 YTD
Mining
Ore Mined	t	-	630,549	702,978	1,242,013	2,295,472
Mined Grade	g/t	-	2.05	1.82	1.91	1.85
Processing
Ore Processed	t	556,986	586,307	553,581	1,677,288	1,656,739
Processed Grade	g/t	1.18	2.00	1.89	1.66	1.92
Recovery	%	91	93	93	92	93
Gold Poured	oz	19,939	34,938	32,052	82,140	95,132
Gold Sold	oz	17,979	38,467	37,353	77,944	95,244
Financials
Total Capital Expenditure	$m	0.6	1.0	4.0	2.6	12.4
AISC	$/oz	1,415	972	1,125	1,180	1,212

	Doropo Mineral Resource Estimate
	September 2025 (0.3g/t Au cut-off, $3,000/oz pit shell, JORC 2012)			October 2023 (0.3g/t Au cut-off, $2,000/oz pit shell, CIM 2014)
Classification	Tonnes	Grade (g/t Au)	Ounces (Au)	Tonnes	Grade (g/t Au)	Ounces (Au)
Measured	1,550,000	1.57	78,000	1,510,000	1.60	77,000
Indicated	95,200,000	1.18	3,601,000	75,340,000	1.25	3,027,000
Inferred	17,440,000	1.21	680,000	7,370,000	1.23	292,000
Total	114,190,000	1.19	4,360,000	84,220,000	1.25	3,396,000

September 2025 - Quarter to date	Units	Syama Sulphide	Syama Oxide	Syama	Mako	Group Total
September 2025 - Quarter to date	Units	Syama Sulphide	Syama Oxide	Syama	Mako	Group Total
UG Lateral Development	m	580	-	580	-	580
UG Vertical Development	m	17	-	17	-	17
Total UG Development	m	597	-	597	-	597
UG Ore Mined	t	490,154	-	490,154	-	490,154
UG Grade Mined	g/t	2.25	-	2.25	-	2.25
OP Operating Waste	BCM	-	1,301,480	1,301,480	-	1,301,480
OP Ore Mined	BCM	-	88,327	88,327	-	88,327
OP Grade Mined	g/t	-	1.70	2.10	-	2.10
Total Ore Mined	t	490,154	182,023	672,177	-	672,177
Total Tonnes Processed	t	614,262	349,494	963,756	556,986	1,520,742
Grade Processed	g/t	2.08	0.91	1.66	1.18	1.48
Recovery	%	75	79	76	91	82
Gold Recovered	oz	30,915	8,042	38,957	19,256	58,213
Gold in Circuit Drawdown/(Addition)	oz	918	43	961	683	1,644
Gold Produced (Poured)	oz	31,833	8,085	39,918	19,939	59,857
Gold Bullion in Metal Account Movement (Increase)/Decrease	oz	5,586	-	5,586	(1,960)	3,626
Gold Sold	oz	37,419	8,085	45,504	17,979	63,483
Achieved Gold Price	$/oz	-	-	-	-	3,404
Cost Summary
Mining	$/oz	466	1,041	583	194	453
Processing	$/oz	711	1,335	838	705	794
Site Administration	$/oz	211	464	262	184	236
Site Operating Costs	$/oz	1,388	2,840	1,682	1,083	1,483
Royalties	$/oz	464	476	466	170	370
By-Product Credits + Corp Admin	$/oz	(4)	(4)	(4)	-	155
Total Cash Operating Costs	$/oz	1,848	3,312	2,145	1,253	2,008
Sustaining Capital + Others	$/oz	212	46	179	29	129
Inventory Adjustments	$/oz	243	(782)	35	134	68
All-In Sustaining Cost (AISC) AISC is calculated on gold produced (poured)	$/oz	2,303	2,576	2,358	1,415	2,205

September 2025 Quarterly Activities Report

Summary by AI ^BETAClose X

Webcast and Conference Call

Group Operations Overview

Mali

Senegal

Côte d'Ivoire

Contact

ASX Listing Rule 5.23 Mineral Resources

ASX Listing Rule 5.19 Production Targets

Cautionary Statement about Forward-Looking Statements

Companies

UK 100

Latest directors dealings

September 2025 - Year to date	Units	Syama Sulphide	Syama Oxide	Syama Total	Mako	Group Total
September 2025 - Year to date	Units	Syama Sulphide	Syama Oxide	Syama Total	Mako	Group Total
UG Lateral Development	m	3,080	-	3,080	-	3,080
UG Vertical Development	m	73	-	73	-	73
Total UG Development	m	3,153	-	3,153	-	3,153
UG Ore Mined	t	1,450,177	-	1,450,177	-	1,450,177
UG Grade Mined	g/t	2.38	-	2.38	-	2.38
OP Operating Waste	BCM	-	4,415,307	4,415,307	566,066	4,981,373
OP Ore Mined	BCM	-	374,067	374,067	448,893	822,960
OP Grade Mined	g/t	-	1.46	1.46	1.91	1.70
Total Ore Mined	t	1,450,177	700,299	2,150,476	1,242,013	3,392,489
Total Tonnes Processed	t	1,777,320	1,174,109	2,951,429	1,677,288	4,628,717
Grade Processed	g/t	2.22	0.97	1.72	1.66	1.70
Recovery	%	76	82	78	92	83
Gold Recovered	oz	96,183	29,920	126,103	82,305	208,408
Gold in Circuit Drawdown/(Addition)	oz	3,255	(180)	3,075	(165)	2,910
Gold Produced (Poured)	oz	99,438	29,740	129,178	82,140	211,318
Gold Bullion in Metal Account Movement (Increase)/Decrease	oz	1,481	-	1,481	(4,196)	(2,715)
Gold Sold	oz	100,919	29,740	130,659	77,944	208,603
Achieved Gold Price	$/oz	-	-	-	-	3,175
Cost Summary
Mining	$/oz	509	710	556	256	439
Processing	$/oz	658	1,066	752	481	647
Site Administration	$/oz	179	369	222	144	192
Site Operating Costs	$/oz	1,346	2,145	1,530	881	1,278
Royalties	$/oz	373	365	371	169	295
By-Product Credits + Corp Admin	$/oz	(4)	(4)	(4)	-	93
Total Cash Operating Costs	$/oz	1,715	2,506	1,897	1,050	1,666
Sustaining Capital + Others	$/oz	146	371	198	32	133
Inventory Adjustments	$/oz	99	(345)	(3)	98	35
All-In Sustaining Cost (AISC) AISC is calculated on gold produced (poured)	$/oz	1,960	2,532	2,092	1,180	1,834

September 2025 Quarterly Activities Report

Summary by AI BETAClose X

Webcast and Conference Call

Group Operations Overview

Mali

Senegal

Côte d'Ivoire

Contact

ASX Listing Rule 5.23 Mineral Resources

ASX Listing Rule 5.19 Production Targets

Cautionary Statement about Forward-Looking Statements

Companies

UK 100

Latest directors dealings

Summary by AI ^BETAClose X