Resolute Mining delivered solid production and increased cash flow in Q3 2023, despite operational challenges at Syama, leading to a revised production guidance primarily due to higher royalty costs.
- Gold poured totaled 59,807 ounces in Q3, contributing to a year-to-date total of 211,000 ounces, with an average gold price of $3,400 per ounce.
- All-in sustaining costs (AISC) rose to $2,205 per ounce due to increased royalty expenses amid a higher gold price environment.
- Revised production guidance for the year, narrowing to 275,000 to 285,000 ounces, reflecting operational challenges particularly at Syama.
- Significant resource growth at the Doropo project, now estimated at 4.4 million ounces, bolstering long-term production prospects.
- Cash generation remained robust, with approximately $26 million for the quarter, ending with a net cash position of $136 million.
Community Discussion