Syama Operational Update

Resolute Mining Limited

05 June 2026

 

 5 June 2026

Syama Operational Update

Resolute Mining Limited (Resolute, the Company or the Group) (ASX/LSE: RSG), the West Africa-focused gold miner, provides an operational update for its Syama Gold Mine (Syama) in Mali.

Production during the second quarter of 2026 has been impacted by logistical and supply chain disruptions that have developed over the past four weeks due to the significant security challenges experienced in Mali in late April and May 2026. Management responded swiftly, implementing a range of measures across mining, processing and planning activities to support operational continuity and position the operation for improved performance. The Company expects production to improve as access to higher-grade ore sources is restored, and the in-country security situation continues to stabilise. Q2 2026 production at Syama will be lower than planned; however, for the full-year we expect to be around the lower end of the guidance range of 195 - 210 koz.

The majority of operational challenges are a result of delays in delivery of key equipment to mine the higher-grade sulphide ore zones within the A21 open pit. This is due to road insecurity in parts of Mali.

In the underground operations, grades have been lower than expected due to intermittent blasting performance and temporary disruption in supply of explosives following the recent in-country security situation. As a result, the sulphide mill feed had an increased reliance on lower-grade stockpiles.

The planned three-week shutdown of the sulphide plant and roaster which was scheduled for maintenance in May 2026 has been deferred to mid-June 2026 because of the current conditions in country.  Management has also extended the maintenance shutdown by one week to include additional preventative maintenance tasks to be carried out.

Mitigation Actions

Syama remains an important asset within the Company's portfolio, with ongoing initiatives focused on stabilising operations, improving performance and unlocking long-term value through the Syama Sulphide Conversion Project (SSCP).

The Company continues to work closely with the key open pit contractors to ensure delivery of equipment by the end of the planned maintenance shutdown. In addition, the Company is increasing underground development capacity and securing additional operators to improve ore availability. In addition, the Company is accelerating open pit mining activities to access higher-grade fresh ore.

The extended maintenance shutdown is expected to increase the availability of the sulphide processing plant. Moreover, processing optimisation initiatives are underway to improve overall plant throughput throughout the remainder of the year.

Syama Production Outlook

Resolute expects Syama's Q2 2026 gold production to be around 30 koz versus original expectation of 40 - 45 koz. Given the expected improvements over the second half of the year, production at Syama is expected to be around the lower end of the guidance range of 195 - 210 koz in 2026.

The Company will provide a detailed operational update with its June 2026 quarterly results in July.

Despite the production impacts, the Company continues to generate strong operating cash flows, supported by the positive gold price environment and disciplined cost management.

Other Operations and Growth Projects

At the Mako operation in Senegal, production from stockpile processing remains on track with full-year guidance.

Construction of the Doropo Gold Project in Côte d'Ivoire remains on schedule, with development activities progressing in line with plan.

Exploration and study work across the portfolio, including the SSCP, continues to advance as planned, supporting the Company's medium and long-term growth objectives.

Chris Eger, Chief Executive Officer, commented,

"Recent performance at Syama has been below expectations despite the significant changes implemented in Mali. These issues are well understood, and our focus is on stabilising operations and restoring consistent performance.

Importantly, the broader business continues to perform well. The Company remains cash generative, supporting ongoing investment in growth, including the Doropo development, which continues to progress to plan."

Contact

Resolute Matthias O'Toole Howes, Corporate Development and Investor Relations Manager [e-mail] [phone]

Public Relations Jos Simson, Tavistock [e-mail] [phone] Corporate Brokers Jennifer Lee, Berenberg [phone] Tom Rider, BMO Capital Markets [phone]

Authorised for release by Chris Eger, Chief Executive Officer

About Resolute

Resolute is an African-focused gold miner with more than 30 years of experience as an explorer, developer and operator. Throughout its history the Company has produced more than 9 million ounces of gold from ten gold mines. The Company is now entering a growth phase through the development of the Doropo project in Côte d'Ivoire which will supplement the existing production from the Syama mine in Mali and Mako mine in Senegal.

 

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