8th Sep 2025 10:41
(Alliance News) - Resolute Mining PLC on Monday said that an updated mineral resource estimate for one of its gold prospects was significantly higher than suggested in a previous study.
The London-based mining farm targeting African gold acquired the Doropo project in northern Ivory Coast in the second quarter of 2025. Since then, Resolute has been updating a July 2024 definite feasibility study by previous owner Centamin PLC, which was acquired at the end of 2024 by Johannesburg-based AngloGold Ashanti PLC.
According to Resolute, Doropo's updated MRE is 2.2 million ounces of gold, a "substantial" increase from Centamin's 1 million-ounce estimate. Resolute's study assumes a gold price of USD3000 per ounce, compared to USD2000 per ounce previously.
Chief Executive Chris Eger called it "a promising first step and one we expected given the change in the gold environment".
Resolute shares rose 4.4% to 35.49 pence on Monday morning in London.
The firm said it was "confident of further growth of the mineral resources as current optimisations are based on conservative pit shell assumptions". Two of the largest potential drill sites, Kilosegui and Souwa, which contain around 2.3 million ounces of the total MRE, are open along strike and at depth, Resolute added.
The gold miner went on to suggest that the improved MRE "will extend the mine life by at least five years beyond the original 10-year plan."
Currently, Resolute is working on pit designs and revising cost estimates for the project at a gold price assumption of USD1,950 per ounce. Resolute's new DFS is expected to target similar levels of production to Centamin's study, which set expectations for more than 200,000 ounces of gold annually in the first four years.
Doropo's workstreams are "on track" Resolute said, with the updated MRE and ore reserve expected in the fourth quarter of 2025. The company plans to make its final investment decision by the end of 2025, but is awaiting approval of an exploitation permit by Ivory Coast's Interministerial Commission, alongside a signed presidential decree.
By Holly Munks, Alliance News reporter
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