## Resolute Mining LimitedQ3 2025 Quarterly Activities Report Summary
**Key Highlights**
* **Safety** Total Recordable Injury Frequency Rate (TRIFR) improved to 1.95 from 2.02 in Q2 2025.
* **Production**
* Gold production of 59,857 ounces, slightly below Q2 (75,962 ounces) due to stockpile processing at Mako and rainy season impacts at both sites.
* All-In Sustaining Costs (AISC) increased to $2,205/oz from $1,668/oz in Q2 due to lower production and higher royalties.
* **Sales** Quarterly gold sales of 63,483 ounces at an average realized price of $3,404/oz.
* **Finances**
* Quarterly operating cash flow of $67.8 million, down from $84.6 million in Q2.
* Net cash position increased to $136.6 million from $110.4 million in Q2.
* Unaudited EBITDA of $292.8 million for the nine months ending September 2025.
* **Projects**
* **Bantaco** Infill drilling confirmed mineralization continuity at Bantaco South Prospect.
* **Doropo Project** Updated Mineral Resource Estimate (MRE) shows a 28% increase in contained gold to 4.36 Moz.
* **Syama Sulphide Conversion Project** On track for commissioning in mid-2026, with CCIL tanks and pebble crusher already commissioned.
* **Guidance**
* Group production guidance narrowed to 275-285 koz (from 275-300 koz).
* Syama production guidance revised down to 177-183 koz due to supply chain issues.
* Mako guidance increased to 98-102 koz.
* Group AISC revised upwards to $1750 - $1850/oz due to higher royalties.
**Key Takeaways**
* Resolute Mining is experiencing a transitional year with lower production due to stockpile processing and rainy season impacts.
* The company is making progress on its key projects, including the Syama Sulphide Conversion Project and the Mako Life Extension Project.
* Higher gold prices are contributing to increased royalties, impacting AISC.
* Resolute remains focused on organic growth through its Doropo project and exploration activities.
**Overall**
Resolute Minings Q3 2025 results reflect a period of transition with lower production but progress on key projects. The company is well-positioned for future growth with its strong cash position and focus on organic development. However, supply chain challenges and higher royalties remain areas of concern.