Resolute Mining Limited (RSG): Doropo project development

This situation live

RSG Resolute Mining Limited

£1,220m · 53.2p · −2% since the first step

28 Oct 2025 · On budget; CCIL tanks commissioned · +13% until the next step The flotation circuit will be commissioned in January 2026 when we plan to start treating high-grade sulphide material.

15 Dec 2025 · Updated DFS published; awaiting mining licence · +22% until the next step Receipt of the permit will let us to proceed with FID and financing, keeping us on track for construction to begin in H1 2026.

22 Jan 2026 · Commissioning and ramp-up ahead · −2% until the next step Syama guidance of 195,000 - 210,000 oz at an AISC $1,950 - 2,150/oz with full ramp-up of the Syama Sulphide Conversion Project (SSCP) expected in H2

5 Feb 2026 · Mining permit awarded; FID awaited, decree pending · +15% until the next step Receiving the mining permit is an important milestone for the Final Investment Decision (FID) which is expected shortly.

12 Mar 2026 · FID approved; construction due H1 2026 · +3% until the next step The Project is expected to become a cornerstone asset within the Company's development pipeline, with construction due to commence in H1 2026.

23 Apr 2026 · Commissioning in Q2; planned shutdown to tie in · −8% until the next step During Q2, Stage 1 of the Syama Sulphide Conversion Project (SSCP) commissioning will move to processing a blended sulphide feed sourced from A21 fresh rock, underground sulphide ore, and sulphide sto

13 May 2026 · Scoping Study completed 13 May 2026 · −1% until the next step Updated Kona Central and Kona South MRE expected in H2 2026

14 May 2026 · Scoping Study retracted 14 May 2026 · −13% until the next step Investors should not rely on the retracted Announcement as a basis for an investment decision.

5 Jun 2026 · Commissioning; shutdown deferred to mid-June · −19% until the next step The planned three-week shutdown of the sulphide plant and roaster which was scheduled for maintenance in May 2026 has been deferred to mid-June 2026 because of the current conditions in country.

30 Jul 2026 · Stage 1 commissioning started · +37% until the next step Syama Sulphide Conversion Project (SSCP) commenced stage 1 commissioning and remains on track for ramp up through 2026

20 Aug 2026 · Flotation commissioned; ramp-up through H2 2026 · +0% until the next step During H1, construction of the flotation circuit was completed and commissioned representing a major milestone for the project and positioning the operation for ramp-up through the second half of 2026

21 Sep 2026 · Infill drilling continuing with 11 rigs · −21% since These issues have continued to reduce ore availability, delay access to higher-grade ore sources and impact plant throughput and recovery.

Project milestones

Doropo project development

Infill drilling continuing with 11 rigs

DEC31 Next: Feasibility studies and mining application work in 433 days

Every step · 12

28 Oct 2025 On budget; CCIL tanks commissioned – The flotation circuit will be commissioned in January 2026 when we plan to start treating high-grade sulphide material. ↗
15 Dec 2025 Updated DFS published; awaiting mining licence – Receipt of the permit will let us to proceed with FID and financing, keeping us on track for construction to begin in H1 2026. ↗
22 Jan 2026 Commissioning and ramp-up ahead – Syama guidance of 195,000 - 210,000 oz at an AISC $1,950 - 2,150/oz with full ramp-up of the Syama Sulphide Conversion Project (SSCP) expected in H2 ↗
5 Feb 2026 Mining permit awarded; FID awaited, decree pending – Receiving the mining permit is an important milestone for the Final Investment Decision (FID) which is expected shortly. ↗
12 Mar 2026 FID approved; construction due H1 2026 – The Project is expected to become a cornerstone asset within the Company's development pipeline, with construction due to commence in H1 2026. ↗
23 Apr 2026 Commissioning in Q2; planned shutdown to tie in – During Q2, Stage 1 of the Syama Sulphide Conversion Project (SSCP) commissioning will move to processing a blended sulphide feed sourced from A21 fresh... ↗
13 May 2026 Scoping Study completed 13 May 2026 – Updated Kona Central and Kona South MRE expected in H2 2026 ↗
14 May 2026 Scoping Study retracted 14 May 2026 – Investors should not rely on the retracted Announcement as a basis for an investment decision. ↗
5 Jun 2026 Commissioning; shutdown deferred to mid-June – The planned three-week shutdown of the sulphide plant and roaster which was scheduled for maintenance in May 2026 has been deferred to mid-June 2026 because... ↗
30 Jul 2026 Stage 1 commissioning started – Syama Sulphide Conversion Project (SSCP) commenced stage 1 commissioning and remains on track for ramp up through 2026 ↗
20 Aug 2026 Flotation commissioned; ramp-up through H2 2026 – During H1, construction of the flotation circuit was completed and commissioned representing a major milestone for the project and positioning the operation... ↗
21 Sep 2026 Infill drilling continuing with 11 rigs – These issues have continued to reduce ore availability, delay access to higher-grade ore sources and impact plant throughput and recovery. ↗

What is happening

Resolute Mining Limited: Doropo project development – Infill drilling continuing with 11 rigs. ['Infill drilling continuing with 11 rigs']

In short: The 13 May 2026 Scoping Study was retracted on 14 May 2026, and a 3.0 Moz Inferred resource was announced in July 2026. The 21 September 2026 update reports infill drilling continuing, with 114 holes and 16,000 m drilled since Q2.
Announced: 28 Oct 2025 · On budget; CCIL tanks commissioned
Latest: 21 Sep 2026 · Flotation commissioned; Syama output still below plan
Resource: 3.0 Moz Inferred, announced July 2026
Work programme: $15-25m: infill drilling, studies, permitting, environmental
Next milestone: Feasibility studies and mining application work by end of 2027
Earlier study: Scoping Study retracted 14 May 2026
Drilling: More than 31,000 m completed in 2026 and included in the estimate
Drilling since Q2: 114 holes, 16,000 m, 11 rigs on site, more rigs planned
Workstreams: Technical studies, environmental and social baseline, metallurgical testwork, permitting
Programme: $15-25m programme approved; feasibility and mining application work targeted by end-2027

What comes next

Feasibility studies and mining application work (31 Dec 2027).

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