Acquisition of the Doropo and ABC Gold Projects in Côte d’Ivoire

Highlights

• Resolute is excited to add further exposure to Côte d’Ivoire, in which it already has an existing exploration portfolio. The company views Côte d’Ivoire as a stable, well-established mining jurisdiction where several large gold mines have entered into production in recent years.
• Doropo is a definitive feasibility study (DFS) stage project located in the northeast of Côte d’Ivoire with a Mineral Reserve of 1.88 Moz grading 1.53 g/t Au. The 2024 DFS outlined an opencast operation, producing an average of 167 koz/y at an average AISC of US$1047 /oz over 10 yr.
• The development of the Doropo Project is expected to materially increase Resolute’s annual gold production to above 500 koz, complementing the company’s existing operations, the Syama Gold Mine in Mali and the Mako Gold Mine in Senegal.
• Resolute believes this is a highly accretive transaction for current and future stakeholders. The 2024 DFS highlighted a post-tax IRR of 34% with a 2.1 yr payback at a gold price assumption of US$1900 /oz.
• Resolute intends to optimise and de-risk the 2024 DFS through a number of workstreams. Importantly to update pit shell designs to align with the company’s reserve gold price assumption (DFS US$1450 /oz, Resolute US$1950 /oz), exploring the addition of diesel backup power, re-evaluating the design layout of the key components on site and refreshing cost estimates to update for 2025 pricing.
• The company expects to reach a final investment decision by the end of 2025, followed by approximately two years of construction and first production by mid-2028.
• The acquisition and development of Doropo is intended to be funded from existing liquidity sources in addition to external debt facilities, with a project finance process being initiated shortly.
• The ABC Project is a greenfield exploration project which has an Inferred Mineral Resource Estimate of 2.16 Moz grading 0.9 g/t Au.

Resolute’s Managing Director and CEO, Chris Eger, commented:

“This acquisition marks an exciting new chapter for Resolute. We believe it is a highly accretive transaction that provides a foundation for future value creation for all stakeholders. The Doropo and ABC Projects present a compelling opportunity to diversify and increase our production profile in the near term to over 500 koz, harnessing our existing exploration presence in Côte d’Ivoire, a highly regarded and established mining jurisdiction. The incorporation of a third mining jurisdiction to our portfolio is a pivotal moment, and a firm indication that the company has repositioned itself for growth.”

Read the article online at: https://www.globalminingreview.com/finance-business/02052025/acquisition-of-the-doropo-and-abc-gold-projects-in-cte-divoire/