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: ASX200 | 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
$1.28 22 Dec 2025	0.090 OPEN $1.20	7.56% HIGH $1.28	13,500,084 LOW $1.19

LAST PRICE

CHANGE +/-

CHANGE %

VOLUME

$1.28

22 Dec
2025

0.090

OPEN

$1.20

7.56%

HIGH

$1.28

13,500,084

LOW

$1.19

TARGET

$1.325

3.5% 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)	N/A	xxx
DPS (cps)	N/A	xxx
EPS Growth	N/A	xxx
DPS Growth	N/A	xxx
PE Ratio	N/A	xxx
Dividend Yield	0.0%	xxx
Div Pay Ratio(%)	N/A	xxx

Title	FY23 Actual	FY24 Actual	FY25 Forecast	FY26 Forecast
EPS (cps)	xxx	2.7	N/A	xxx
DPS (cps)	xxx	0.0	N/A	xxx
EPS Growth	xxx	- 65.4%	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: 0.00%

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

0.8

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Macquarie	xx/xx/xxxx	1	xxxxxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Ord Minnett	12/12/2025	2	Accumulate	$1.20	-6.25%	Ord Minnett has upgraded its 2026 commodity outlook after a year of supply-driven price strength, reflecting increased confidence amid improving, though uneven, global growth. Gold is the standout, with the 2026 price forecast lifted 8% to US$4,200/oz, broadly in line with spot. Copper price forecast for 2026 lifted by 3% and coking coal by 2%, while nickel price trimmed by -4% and NdPr by -2%. The broker revised the long-run forecast for AUD to US$0.70 from US$0.75, which is a key driver of earnings and valuation upgrades across the sector. Overall, the broker reckons ongoing supply disruptions and underinvestment will support firmer commodity prices and stronger miner cash flows. For Resolute Mining, the broker lifted FY26 EPS forecast by 17%. Accumulate retained, and target raised to $1.20 from $1.10.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Macquarie

xx/xx/xxxx

xxxxxxxxxx

$xx.xx

xx.xx%

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

Ord Minnett

12/12/2025

Accumulate

$1.20

-6.25%

Ord Minnett has upgraded its 2026 commodity outlook after a year of supply-driven price strength, reflecting increased confidence amid improving, though uneven, global growth.

Gold is the standout, with the 2026 price forecast lifted 8% to US$4,200/oz, broadly in line with spot. Copper price forecast for 2026 lifted by 3% and coking coal by 2%, while nickel price trimmed by -4% and NdPr by -2%.

The broker revised the long-run forecast for AUD to US$0.70 from US$0.75, which is a key driver of earnings and valuation upgrades across the sector.

Overall, the broker reckons ongoing supply disruptions and underinvestment will support firmer commodity prices and stronger miner cash flows.

For Resolute Mining, the broker lifted FY26 EPS forecast by 17%. Accumulate retained, and target raised to $1.20 from $1.10.

Access Stockbroker Research History >

EXTRA COVERAGE

Display All Commentary

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	16/12/2025	1	Buy	$2.30	79.69%	Resolute Mining's updated DFS for the Doropo gold project in Cote d’Ivoire showed a 33% increase in reserves to 2.5Moz, a 13-year mine life and average 170kozpa production, Canaccord Genuity notes. Capex rises 20% to US$515m and AISC increases 11% to US$1,406/oz, offsetting longer mine life versus prior modelling. Permits are expected late-2025/early-2026, with FID in early 2026 and first gold targeted for 1H2028. With strong cash and forecast cash flows, the broker believes Resolute should comfortably fund development, with mine life extensions a potential long-term opportunity. Buy. Target rises to $2.30 from $2.00 as the broker incorporates Doropo update into the modelling. FORECAST Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 15.54 cents. Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 26.41 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Canaccord Genuity

16/12/2025

Buy

$2.30

79.69%

Resolute Mining's updated DFS for the Doropo gold project in Cote d’Ivoire showed a 33% increase in reserves to 2.5Moz, a 13-year mine life and average 170kozpa production, Canaccord Genuity notes.

Capex rises 20% to US$515m and AISC increases 11% to US$1,406/oz, offsetting longer mine life versus prior modelling. Permits are expected late-2025/early-2026, with FID in early 2026 and first gold targeted for 1H2028.

With strong cash and forecast cash flows, the broker believes Resolute should comfortably fund development, with mine life extensions a potential long-term opportunity.

Buy. Target rises to $2.30 from $2.00 as the broker incorporates Doropo update into the modelling.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 15.54 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 26.41 cents.

Access Extra Coverage Research History >

RSG STOCK CHART

FNArena News on RSG

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Estimated Dividend Growth (Average Of Past Three Years)	%
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RESOLUTE MINING LIMITED (RSG)
Share Price Analysis and Chart