Strong Production and Cash Flow
Resolute Mining reported a very healthy production of 75,962 ounces in Q2, similar to Q1, with a strong cash flow ending the quarter with a net cash position of just above $110 million.
Acquisition of Doropo & ABC Projects
Resolute Mining acquired the Doropo & ABC projects from AngloGold Ashanti, which is expected to transform Resolute into a premier mining business in Africa.
Mako Operation Performance
Mako operation in Senegal had a strong quarter with production of about 35,000 ounces at an AISC of $972, exceeding expectations.
Financial Performance
The company exceeded expectations with a quarterly operating cash flow of $85 million, driven by $263 million in revenue and supported by 80,000 ounces of gold sales at a high gold price of over $3,400 per ounce.
Syama Sulphide Conversion Project
The SSCP at Syama is well on track, with commissioning of key equipment planned for the second half of the year and next year, creating greater operational flexibility.