RESOLUTE MINING LIMITED (RSG)
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RSG - RESOLUTE MINING LIMITED

FNArena Sector : Gold & Silver

Year End: December

GICS Industry Group : Materials

Debt/EBITDA: 0.25

Index: ASX300 | ALL-ORDS

Resolute Mining is a gold producer with three mines in West Africa and one in Queensland, Australia. The company is listed on the ASX and the London Stock Exchange.

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$0.46 14 Apr 2025	0.005 OPEN $0.47	1.10% HIGH $0.48	8,358,268 LOW $0.46

LAST PRICE

CHANGE +/-

CHANGE %

VOLUME

$0.46

14 Apr
2025

0.005

OPEN

$0.47

1.10%

HIGH

$0.48

8,358,268

LOW

$0.46

TARGET

$0.50

8.7% upside

Franking for last dividend paid out: 0%

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FNARENA'S MARKET CONSENSUS FORECASTS

12 Month Avg FX Values

Present FX Values

Original Currency

Title	FY25 Forecast	FY26 Forecast
EPS (cps)	9.1	xxx
DPS (cps)	0.0	xxx
EPS Growth	N/A	xxx
DPS Growth	N/A	xxx
PE Ratio	5.0	xxx
Dividend Yield	0.0%	xxx
Div Pay Ratio(%)	N/A	xxx

Title	FY25 Forecast	FY26 Forecast
EPS (cps)	9.3	xxx
DPS (cps)	0.0	xxx
EPS Growth	N/A	xxx
DPS Growth	N/A	xxx
PE Ratio	4.9	xxx
Dividend Yield	0.0%	xxx
Div Pay Ratio(%)	N/A	xxx

Title	FY23 Actual	FY24 Actual	FY25 Forecast	FY26 Forecast
EPS (cps)	xxx	N/A	5.9	xxx
DPS (cps)	xxx	N/A	0.0	xxx
EPS Growth	xxx	N/A	N/A	xxx
DPS Growth	xxx	N/A	N/A	xxx
Div Pay Ratio(%)	xxx	N/A	N/A	xxx

This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: N/A

DIVIDEND YIELD CALCULATOR

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 31/08 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2025 FactSet UK Limited. All rights reserved

Title	2019	2020	2021	2022	2023	2024
EPS Basic	xxx	xxx	xxx	xxx	xxx	-2.0
DPS All	xxx	xxx	xxx	xxx	xxx	0.0
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	1,214.3 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	40.8
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	174.4 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	-3.53 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title	2019	2020	2021	2022	2023	2024
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	-4.95 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	-4.88 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	-3.33 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	-4.95 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	9.45 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	28.2 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title	2019	2020	2021	2022	2023	2024
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	61 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	10 M
Total Debt	xxx	xxx	xxx	xxx	xxx	71 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	-
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	114 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	0.97

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title	2019	2020	2021	2022	2023	2024
Capex	xxx	xxx	xxx	xxx	xxx	158.9 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	13.09 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	896 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	235 M
Research & Development	xxx	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	xxx	0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

Display All Commentary

Sentiment Indicator

0.5

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Ord Minnett	xx/xx/xxxx	3	xxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Macquarie	04/03/2025	1	Outperform	$0.45	-2.17%	Resolute Mining reported preliminary 2024 results which met Macquarie's expectations, with 91% year-on-year earnings (EBITDA) growth driven by higher gold prices, stable costs, and marginally higher production. The US$160m payment to the Malian government impacted net profit after tax, the broker highlights, causing a loss of -US$13m instead of the expected 2025 expense. Management retained 2025 guidance of 275-300koz at an all-in-sustaining-cost of US$1,650-1,750/oz. Net cash closed at US$25m for year end, beating consensus by 37%. The broker lowers 2024/2025 EPS forecasts by -11%/-14% due to the earlier mentioned expense recognition. The target price reduces -4% to $0.45, with Outperform rating maintained. FORECAST Macquarie forecasts a full year FY25 dividend of 0.00 cents and EPS of 9.06 cents. Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.07 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Ord Minnett

xx/xx/xxxx

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

04/03/2025

Outperform

$0.45

-2.17%

Resolute Mining reported preliminary 2024 results which met Macquarie's expectations, with 91% year-on-year earnings (EBITDA) growth driven by higher gold prices, stable costs, and marginally higher production.

The US$160m payment to the Malian government impacted net profit after tax, the broker highlights, causing a loss of -US$13m instead of the expected 2025 expense.

Management retained 2025 guidance of 275-300koz at an all-in-sustaining-cost of US$1,650-1,750/oz.

Net cash closed at US$25m for year end, beating consensus by 37%. The broker lowers 2024/2025 EPS forecasts by -11%/-14% due to the earlier mentioned expense recognition.

The target price reduces -4% to $0.45, with Outperform rating maintained.

FORECAST
Macquarie forecasts a full year FY25 dividend of 0.00 cents and EPS of 9.06 cents.
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.07 cents.

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EXTRA COVERAGE

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No. Of Recommendations

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Canaccord Genuity	12/04/2025	1	Buy	$1.00	117.39%	Canaccord Genuity revised forecasts for precious metals prices, and provided estimates for production and costs ahead of the March quarter update. The broker lifted gold price forecasts in USD for the March quarter by 7.7% and around 10-12% each year until 2028, with the long-term price raised by 11.5%. The AUD/USD forecasts were lowered until 2027, and left unchanged after that. This resulted in a bigger lift in gold price in AUD terms until 2027, with the forecasts thereafter in line with increases in USD price. Silver prices were raised for the March quarter in USD terms but lowered for the rest of the forecast period, resulting in an increase in AUD terms until 2026, but lower from 2028. For Resolute Mining, the broker is forecasting a March quarter production of 81koz vs a consensus of 78. The forecast for costs is US$1,587/oz vs consensus of US$1,450. Buy. Target price rises to $1.00 from $0.70. FORECAST Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 15.36 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Canaccord Genuity

12/04/2025

Buy

$1.00

117.39%

Canaccord Genuity revised forecasts for precious metals prices, and provided estimates for production and costs ahead of the March quarter update.

The broker lifted gold price forecasts in USD for the March quarter by 7.7% and around 10-12% each year until 2028, with the long-term price raised by 11.5%.

The AUD/USD forecasts were lowered until 2027, and left unchanged after that. This resulted in a bigger lift in gold price in AUD terms until 2027, with the forecasts thereafter in line with increases in USD price.

Silver prices were raised for the March quarter in USD terms but lowered for the rest of the forecast period, resulting in an increase in AUD terms until 2026, but lower from 2028.

For Resolute Mining, the broker is forecasting a March quarter production of 81koz vs a consensus of 78. The forecast for costs is US$1,587/oz vs consensus of US$1,450.

Buy. Target price rises to $1.00 from $0.70.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 15.36 cents.

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RSG STOCK CHART

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RESOLUTE MINING LIMITED (RSG)
Share Price Analysis and Chart