Doropo Final Investment Decision Approved
Resolute Mining approves Final Investment Decision for Doropo Gold Project in Côte d'Ivoire, targeting construction in H1 2026.
- Upfront capital cost US$516m
- Post-tax NPV at 5% discount rate US$2,543m
- Internal Rate of Return 72%
- Life of Mine gold production 2,196 koz
- Life of Mine average annual production 169 koz
- AISC per ounce (LOM average) US$1,472/oz
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Resolute Mining Limited ("Resolute" or "the Company") (ASX/LSE: RSG), the Africa-focused gold miner, is pleased to announce that it has formally approved the Final Investment Decision ("FID") for its Doropo Gold Project ("Doropo" or "the Project") in Côte d'Ivoire, marking a transformational step towards construction and production.
Reaching a positive FID on Doropo advances Resolute's goal of becoming a leading multi-asset gold producer in West Africa. This milestone underpins the Company's strategy to grow annual gold production above 500 koz by the end of 2028 and validates the Company's commitment to disciplined growth and generating shareholder value.
The decision follows the completion of extensive technical, economic, environmental, and social evaluations, as well as receipt of the mining permit from the Council of Ministers in Côte d'Ivoire, confirming the Project's robust economics, technical viability, and alignment with the Company's long-term growth strategy. The Project is expected to become a cornerstone asset within the Company's development pipeline, with construction due to commence in H1 2026.
The development of Doropo supports production over an initial mine life of approximately 13 years, with potential opportunities for expansion and value creation throughout the region.
Chris Eger, Managing Director and CEO commented:
"This Final Investment Decision represents an important growth milestone for Resolute that advances our strategy to become a diversified gold producer, on track to achieve annual production of over 500 koz by the end of 2028. This decision reflects the quality of the Doropo Gold Project, the robustness of our technical work, and our confidence in the operating environment. We expect the Project to generate significant shareholder value whilst delivering enduring benefits to host communities and national partners."
Next Steps
Resolute will enter the construction phase of Doropo from a position of balance sheet strength with a net cash position of US$209 million as at 31 December 2025. As the Project advances, Resolute will continue to evaluate all funding options, in the context of prevailing market conditions, to maintain its balance sheet flexibility and as additional growth initiatives are identified.
Figure 1: Approximate Project Timeline
Doropo DFS Highlights
Doropo is situated in the Bounkani Region of Côte d'Ivoire, approximately 480 km northeast of Abidjan and 50 km north of Bouna, near the Burkina Faso border. Table 1 includes operational and financial highlights for the updated DFS released in December 2025 at a US$4,000/oz gold price assumption.
| 100% Basis | Units | Value |
|---|---|---|
| Mine Life | Years | 13 |
| LOM ore processed | kt | 59,102 |
| LOM strip ratio | w:o | 4.9 |
| LOM feed grade processed | Au g/t | 1.31 |
| LOM gold recovery | % | 88% |
| LOM gold production | koz | 2,196 |
| Upfront capital cost | US$M | 516 |
| Life of Mine average (during production): | ||
| Gold, average annual production | koz | 169 |
| AISC per ounce | US$/oz | 1,472 |
| EBITDA | US$M | 438 |
| Project Free Cash Flow (post-tax) | US$M | 318 |
| Project years 1 to 5: | ||
| Gold, average annual production | koz | 204 |
| AISC per ounce | US$/oz | 1,360 |
| EBITDA | US$M | 554 |
| Project Free Cash Flow (post-tax) | US$M | 419 |
| Post-Tax Economics | ||
| Net present value - 5% | US$M | 2,543 |
| Internal Rate of Return | % | 72% |
| Payback period (from first production) | Years | 1.1 |
Table 1: Economic Summary
The post-tax NPV (100% basis) sensitivity comparing varying discount rate percentages and gold price is presented in Table 2.
| 100% Basis | Units | Value | |
|---|---|---|---|
| $3,000 | $4,000 | $5,000 | |
| 5% | 1,457 | 2,543 | 3,629 |
| 7% | 1,245 | 2,202 | 3,159 |
| 10% | 988 | 1,789 | 2,590 |
Table 2: Sensitivity of post-tax NPV (US$M) to Discount Rate and Gold Price (US$/oz)
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