Key Points
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Gold output fell to 59 857 oz due to Syama supply issues.
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All-in sustaining costs rose to $2 205 per ounce.
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Production guidance revised downward, but project pipeline remains on track.
Africa-focused gold miner Resolute Mining recorded lower output in the September quarter. Production fell to 59 857 ounces, from 75 962 ounces in the previous period.
The company linked the drop to the rainy season, stockpile processing at Mako in Senegal, and ongoing supply chain problems at the Syama mine in Mali.
All-in sustaining costs rose to $2 205 per ounce, up from $1 668 in June. The increase came from lower output and higher royalties tied to gold prices.
Quarterly sales reached 63 483 ounces at an average price of $3 404 per ounce. Net cash rose to $136.6 million.
New leadership aims to steady operations
CEO Chris Eger said the company had made progress despite supply challenges. “We’ve made key management changes at both Syama and Bamako,” he said.
“Our new COO, Gavin Harris, has been leading initiatives on-site that are already improving results.”
Eger said he met with Mali’s Prime Minister and Minister of Mines to improve communication and discuss supply chain constraints.
“We’re optimistic that these problems are being resolved, though the situation remains unpredictable,” he said.
Guidance adjusted as projects move forward
Resolute trimmed its 2025 production target to 275 000–285 000 ounces, down from 275 000–300 000 ounces. The company now expects all-in sustaining costs between $1 750 and $1 850 per ounce.
Syama’s forecast was cut to 177 000–183 000 ounces with costs between $1 900 and $2 050 per ounce. Mako’s strong performance partly offset Syama’s lower output.
Eger said the Syama Sulphide conversion project remains within budget and on track for mid-2026 commissioning.
The CCIL tanks are already operational, and the pebble crusher will start soon. Both upgrades should improve flexibility at the mine.
Exploration gains in Senegal and Côte d’Ivoire
At Mako, drilling at the Tomboronkoto and Bantaco deposits continues to return promising results.
In Côte d’Ivoire, the Doropo gold project increased its contained gold by 28%, reaching 4.36 million ounces. An updated feasibility study will be released before the end of the year.
