Resolute Mining Limited (AU:RSG)
ASX:RSG
Want to see AU:RSG full AI Analyst Report?
Top Page
Resolute Mining
(Sydney:RSG)
Select Model
Select Model
Rating:64Neutral
Price Target:
AU$1.50
â–²(5.63% Upside)
Action:ReiteratedDate:03/26/26
The score is driven primarily by improved 2025 financial performance (better margins, returns, and free cash flow with manageable leverage). Offsetting this, technical signals are currently bearish/oversold, and the earnings outlook includes higher 2026 costs and very large capital needs with permitting/execution risk (Doropo, SSCP) and country/operational headwinds.
Positive Factors
Stronger cash generation & liquidity
Sustained operating cash flow and significant available liquidity materially improve financial flexibility. Over the next 2–6 months this supports funding of elevated capex, exploration and working capital without immediate refinancing, reducing short-term funding risk and enabling strategic optionality.
Negative Factors
Sharp 2026 CapEx increase
A large near-term capex ramp concentrates execution and funding risk. Delivering multi-hundred‑million dollar spend in 2026 increases exposure to cost inflation, schedule slippage and the need for external financing; any delay or overrun would strain liquidity and returns over the next few years.
Read all positive and negative factors
Positive Factors
Negative Factors
Stronger cash generation & liquidity
Sustained operating cash flow and significant available liquidity materially improve financial flexibility. Over the next 2–6 months this supports funding of elevated capex, exploration and working capital without immediate refinancing, reducing short-term funding risk and enabling strategic optionality.
Read all positive factors
Resolute Mining (RSG) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$3.00B
Dividend YieldN/A
Average Volume (3M)12.50M
Price to Earnings (P/E)22.9
Beta (1Y)1.43
Revenue Growth10.67%
EPS GrowthN/A
CountryAU
Employees4,059
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.03
Shares Outstanding2,137,417,700
10 Day Avg. Volume17,430,185
30 Day Avg. Volume12,499,751
Financial Highlights & Ratios
PEG Ratio-0.05
Price to Book (P/B)3.73
Price to Sales (P/S)2.92
P/FCF Ratio18.34
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$2.15Price Target Upside51.52% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.16
Revenue Forecast (FY)AU$1.26B
Resolute Mining Business Overview & Revenue Model
Company Description
Resolute Mining Limited engages in mining, exploration, development, operation, and production of gold properties in Africa, the United Kingdom, and Australia. The company's flagship project is the Syama Gold Mine located in Mali, West Africa. It ...
How the Company Makes Money
Resolute Mining primarily makes money by producing gold and selling it into the gold market, with revenue largely determined by the volume of gold produced (ounces) and the realized gold price (spot prices and/or any contracted pricing arrangement...
Resolute Mining Earnings Call Summary
Earnings Call Date:Feb 27, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 20, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive operational and financial performance in 2025 — production met guidance, cash generation and the balance sheet materially strengthened, exploration delivered new resources, and the Doropo DFS shows transformative project economics. Key execution items (Doropo permitting and FID, SSCP commissioning) and large 2026 capital requirements introduce timing, permitting and funding risks, while elevated AISC guidance and stockpile-driven production declines (notably at Mako) temper the outlook. Overall the positives (stable operations, strong cash flow, attractive growth projects and exploration success) outweigh the headwinds, though near-term execution and country-level risks should be monitored closely.Positive Updates
Q4 and Full-Year Production in Line with Guidance
Q4 gold production of 66,000 oz (up 6,000 oz vs Q3); full-year 2025 production of 277,000 oz, within guidance range (275k–285k).
Negative Updates
Significant Increase in 2026 Capital Expenditure
Group CapEx guidance for 2026 of $310M–$360M versus $118M in 2025 — an increase of ~163% to ~205% (based on range), increasing near-term funding and execution risk despite management confidence in liquidity and potential project financing.
Read all updates
Q4-2025 Updates
Positive
Negative
Q4 and Full-Year Production in Line with Guidance
Q4 gold production of 66,000 oz (up 6,000 oz vs Q3); full-year 2025 production of 277,000 oz, within guidance range (275k–285k).
Read all positive updates
Company Guidance
Resolute guided 2026 production of 250,000–275,000 oz of gold (Syama 195,000–210,000 oz; Mako 55,000–65,000 oz) with group AISC of $2,000–$2,200/oz (Syama $1,950–$2,150/oz; Mako $1,600–$1,800/oz); total 2026 CapEx of $310–$360M (Syama $110–$125M — including ~$40M to finish the SSCP, ~$40M waste stripping and ~$40M plant/equipment, Mako $15–$20M, and Doropo $170–$190M subject to permitting/FID with ~75% (~$135M) of Doropo spend in H2); exploration budget $15–$25M (primarily Côte d’Ivoire); Doropo DFS metrics include ~2.2M oz LOM production over 13 years, upfront capital ~$516M, LOM AISC $1,406/oz, post‑tax NPV5% $1.46B and IRR 49% at $3,000/oz; key timings include Syama SSCP Stage 1 commissioning in Q2 2026 (~110 t/h) and Stage 2 in Q3 2026 (~215 t/h), Syama H1/H2 production split 42%/58%, and Doropo construction start mid‑Q2 2026 with first gold H1 2028 if FID by end Q1; Mako guidance assumes processing ~2.2 Mt @ ~0.9 g/t with >90% recoveries; company expects to fund 2026 CapEx from existing liquidity (over ~$320M available) and a mix of cash and project financing.Resolute Mining Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
71
Positive
Cash Flow
67
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 895.79M | 800.97M | 631.07M | 651.13M | 549.24M |
| Gross Profit | 304.15M | 219.63M | 113.34M | 93.92M | 46.57M |
| EBITDA | 356.20M | 28.01M | 109.91M | 92.58M | -190.20M |
| Net Income | 114.25M | -28.30M | 65.58M | -34.66M | -319.20M |
Balance Sheet | |||||
| Total Assets | 1.15B | 819.56M | 853.08M | 868.79M | 984.20M |
| Cash, Cash Equivalents and Short-Term Investments | 164.21M | 69.27M | 59.77M | 80.87M | 88.44M |
| Total Debt | 208.04M | 43.79M | 84.29M | 141.03M | 327.78M |
| Total Liabilities | 498.14M | 336.34M | 310.90M | 397.30M | 558.64M |
| Stockholders Equity | 702.27M | 537.76M | 590.15M | 543.43M | 495.63M |
Cash Flow | |||||
| Free Cash Flow | 142.81M | 10.19M | 34.77M | 23.12M | -11.11M |
| Operating Cash Flow | 234.50M | 115.01M | 106.45M | 90.91M | 45.11M |
| Investing Cash Flow | -222.81M | -70.39M | -68.90M | 15.17M | -25.07M |
| Financing Cash Flow | -16.35M | -36.52M | -57.35M | -97.84M | -49.49M |
Resolute Mining Technical Analysis
Positive
1.42
Price Trends
1.41
Positive
1.32
Positive
1.08
Positive
Market Momentum
0.02
Negative
50.27
Neutral
25.50
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:RSG, the sentiment is Positive. The current price of 1.42 is above the 20-day moving average (MA) of 1.38, above the 50-day MA of 1.41, and above the 200-day MA of 1.08, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 50.27 is Neutral, neither overbought nor oversold. The STOCH value of 25.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:RSG.
Resolute Mining Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | AU$5.57B | 4.43 | 27.80% | 0.65% | 31.42% | ― | |
67 Neutral | AU$7.49B | 11.53 | 11.87% | 1.32% | 16.69% | 3.17% | |
67 Neutral | AU$3.68B | 7.22 | 42.00% | ― | 111.74% | 100.58% | |
67 Neutral | AU$5.74B | 7.97 | 12.35% | 0.46% | 101.97% | 237.66% | |
66 Neutral | AU$7.06B | -160.00 | 9.94% | 1.92% | 13.34% | -15.96% | |
64 Neutral | AU$3.00B | 22.93 | 17.47% | ― | 10.67% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
AU:RSG
Resolute Mining
1.29
0.80
160.61%
AU:PRU
Perseus Mining
5.59
2.43
76.68%
AU:WAF
West African Resources Ltd
3.20
0.87
37.34%
AU:RRL
Regis Resources Limited
7.41
3.12
72.81%
AU:RMS
Ramelius Resources Limited
3.74
1.30
53.47%
AU:WGX
Westgold Resources
6.17
3.24
110.87%
Resolute Mining Corporate Events
Resolute Reaffirms 2026 Gold Output and Cost Guidance
Apr 22, 2026
Resolute Mining has reaffirmed its 2026 production guidance at 250,000 to 275,000 ounces of gold, with an All-in Sustaining Cost forecast between $2,000 and $2,200 per ounce. The company also reiterated that its previously disclosed Ore Reserve an...
Resolute Mining Posts Strong Cash Generation as West African Growth Pipeline Advances
Apr 22, 2026
Resolute Mining reported Q1 2026 gold output of 59,603 ounces from its Mako and Syama operations, broadly in line with expectations, with a low injury frequency rate and all-in sustaining costs of $2,210 per ounce in line with guidance despite hig...
Resolute Mining Sets Date and Voting Process for 2026 AGM
Apr 17, 2026
Resolute Mining has scheduled its 2026 Annual General Meeting for 20 May in Perth, Western Australia, and will provide the notice of meeting online rather than mailing hard copies, unless specifically requested. Shareholders can participate by att...
Resolute Mining Schedules Investor Call on March 2026 Quarterly Report
Apr 16, 2026
Resolute Mining has scheduled a webcast and conference call on 23 April 2026 for investors, analysts and media to review its Quarterly Activities Report for the period ending 31 March 2026. The session, to be hosted by CEO Chris Eger, will include...
Mitsubishi UFJ Exits Substantial Holder Position in Resolute Mining
Apr 14, 2026
Mitsubishi UFJ Financial Group, Inc. has notified Resolute Mining Limited that it has ceased to be a substantial shareholder in the Australian gold producer. The change follows a series of trades on 9 April 2026 involving controlled entities, incl...
First Sentier Group Drops Below Substantial Holding in Resolute Mining
Apr 13, 2026
Resolute Mining has disclosed that investment group First Sentier Investors, together with a wide network of related entities and its ultimate parent Mitsubishi UFJ Financial Group, has ceased to be a substantial holder in the company as of 9 Apri...
Resolute Mining Strikes Strategic Guinea Gold Pact With State-Owned Nimba
Mar 30, 2026
Resolute Mining has signed a non-binding memorandum of understanding with state-owned Nimba Mining Company in Guinea to evaluate and potentially co-develop gold projects in one of West Africa’s most prospective regions. The partnership, back...
Resolute Mining Details Governance and Diversity Progress in 2025 Statement
Mar 24, 2026
Resolute Mining has released its latest corporate governance statement, outlining its adherence to the ASX Corporate Governance Council’s Fourth Edition principles for the 2025 financial year. The board emphasises oversight of strategy, risk...
Resolute Mining Releases Comprehensive 2025 Annual Report
Mar 23, 2026
Resolute Mining Limited has released its 2025 Annual Report, detailing operating and financial results for the year ended 31 December 2025, prepared in line with statutory and regulatory requirements. The report highlights the company’s oper...
Mitsubishi UFJ Exits Substantial Holder Position in Resolute Mining
Mar 19, 2026
Mitsubishi UFJ Financial Group has filed a notice that it has ceased to be a substantial shareholder in Resolute Mining Limited. The change follows a series of trades on 16 March 2026, including sizeable sales of Resolute shares by entities contro...
Mitsubishi UFJ-Linked Funds Exit Substantial Holder Position in Resolute Mining
Mar 18, 2026
Mitsubishi UFJ Financial Group and its asset management affiliates, including First Sentier Investors entities, have lodged a notice indicating they have ceased to be substantial holders in Resolute Mining Ltd. The filing, made under section 671B ...
Resolute Mining Swings to Profit on Higher Gold Prices and Stronger Cash Flow
Feb 27, 2026
Resolute Mining posted a sharp turnaround for the year to 31 December 2025, lifting revenue 8% to $865.6 million and swinging from a $26.0 million loss to a $126.7 million net profit, as EBITDA rose to $391.6 million. The improvement was driven by...
Resolute Mining Reaffirms 2026 Output Guidance and Cost Metrics
Feb 22, 2026
Resolute Mining used its materials for the 2026 BMO Global Metals, Mining Critical Minerals Conference to reaffirm key operational metrics and reporting standards. The company highlighted that its mineral resource and ore reserve estimates remain...
Resolute Secures Doropo Mining Permit to Drive West African Growth
Feb 4, 2026
Approval of the Doropo Gold Project mining permit in Côte d’Ivoire secures the last major governmental hurdle, granting a 14-year term over 400 km² and allowing Resolute to advance toward construction in H1 2026 and first gold in H...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.