ASX and LSE-listed Resolute Mining has announced the results of a Scoping Study for the ABC Project in Côte d'Ivoire based on the existing 2.16 moz gold Mineral Resource Estimate (MRE) published in 2021.
The Study confirms the ABC Project's strong economic potential and its pathway to become Resolute's second operating gold mine in Côte d'Ivoire, supporting the Company's strategy to build a diversified, multi-asset gold platform. It outlines a robust, long-life operation with attractive economics and meaningful potential upside from further resource growth and exploration success.
Resolute is accelerating step-out drilling at the Kona Central and Kona South deposits to unlock further resource growth and build on the Project's strong progress. To date, the Company has drilled over 25,000 m, with results expected to support an updated MRE in H2 2026.
Scoping Study Highlights
Production - long-life, open pit gold operation
- Strong production profile averaging approximately 141 koz per annum over a 12-year mine life, delivering total gold production of 1.7 Moz at a competitive life-of-mine (LoM) all-in sustaining cost ("AISC") of US$1,614/oz, supporting robust operating margins
- Large-scale open pit mining operation underpinned by total mill feed of 82.8 Mt at 0.76g/t Au containing 2.0 Moz of gold, with a low average life-of-mine strip ratio of 1.82
- Low-risk development pathway utilising a conventional 7.0 Mtpa carbon-in-leach (CIL) processing plant with gold recoveries of 84% and further recovery optimisation potential during development
- Strong early cash flow generation with average annual gold production of 163 koz over the first five years at an attractive AISC of US$1,565/oz using a gold price assumption of US$3,500/oz,
Financial (post-tax, 100% basis) - attractive metrics and short payback period
- Net present value at 5% discount rate (NPV5%) of US$1.2bn, Internal rate of return (IRR) of 39%, 1.4-year payback at a gold price assumption of US$3,500/oz
- At US$4,750/oz gold price the NPV5%increases to US$2.3bn with an IRR of 63% and payback period of under 1 year
- Competitive capital cost estimate of US$648M
- Average annual free cash flow and EBITDA of US$262M and US$323M respectively in first five years of production at US$3,500/oz gold price
Potential upside via MRE growth
- Based on drilling activities in 2026 mineralisation remains open at depth and along strike; drilling at Kona South extended mineralisation to the North and South, highlighting the potential for resource expansion
- Updated Kona Central and Kona South MRE expected in H2 2026
Next Steps
- Accelerate drilling efforts with a focus on infilling resource as well as resource expansion
- Optimize metallurgical testwork to increase recovery rates of the deposits
- Initiate ESIA and other required technical study work
- Site investigations and permitting to target completion of a Definitive Feasibility Study (DFS) in 2027
- Based on potential size of the resource further work will be done to optimize the size of the processing plant in order to increase the ounce profile above 200 koz per annum for at least 10 years of mine life
The production target and forecast financial information in this announcement are conceptual in nature and are based entirely on Inferred Mineral Resources and there is no certainty that the outcomes will be realised.
The Scoping Study was undertaken by MineScope Services along with input from Orelogy, Knight Piésold and ECG Engineering.
The full Scoping Study can be found on the Resolute website on the Reports page.
Chris Eger, Managing Director and CEO commented:"Resolute is very pleased to announce the results of the scoping study for ABC which demonstrates the significant economic potential of the ABC Project. Building on the strong results from the ongoing step-out drilling at the Kona South and Central deposit, we are confident the Project has potential to grow and become more commercially attractive.
Based on the study, the ABC Project will produce approximately 141 koz per annum over 12 years at a competitive average AISC of US$1,614/oz. At a conservative gold price of $3,500/oz this delivers a post-tax NPV5% of US$1.2bn and IRR of 39% and a payback of under 1.5 years. While the initial results demonstrate the potential for a fourth mine for Resolute, we will continue to progress the Project with an updated MRE planned for H2 2026 as we are highly confident the resource will continue to expand and the project economics will only get more attractive with potential to increase the scale of the mine. The scoping study now provides Resolute with the required technical platform to commence the DFS. Progress on exploration, metallurgical testwork, site investigations and permitting has been prioritised with the target of completing the required workstreams to finalise a DFS by the end of 2027."
