Resolute Mining Adjusts 2024 Gold Production Guidance

Resolute Mining, a leading gold mining company, has revised its gold production forecast for 2024. The adjustment is primarily due to operational changes at its Mako operations in Senegal and Syama operations in Mali.

Revised Outlook for 2024

Resolute Mining's Chief Executive, Terry Holohan, explained that the company's updated forecast reflects a more conservative approach to its Syama open pit operations. In the coming year, Resolute Mining will be extracting ores from several smaller satellite pits at Syama, while temporarily pausing the oxide and sulphide plants to facilitate the engineering tie-ins with the Syama Sulphide Conversion Project. The project is expected to be commissioned in the first half of 2025.

The revised production expectations for 2024 now anticipate a gold output ranging between 345,000 ounces and 365,000 ounces, slightly lower than the previous outlook of 355,000 ounces to 375,000 ounces.

Impact on Syama Production

Resolute Mining now expects a lower gold production range of 205,000 ounces to 215,000 ounces for the Syama operations in 2024. This is in contrast to the earlier guidance of 225,000 ounces to 235,000 ounces.

Holohan clarified that the updated guidance accounts for an eleven-day shutdown in the first quarter to facilitate scheduled maintenance and enhancements for the Roaster and Mill. Additionally, shutdowns will be necessary during the construction of the Syama Sulphide Conversion Project, which is projected to reach full operational capacity by the second half of 2025.

Mako Operations Update

On the other hand, Resolute Mining has raised its gold production expectations for the Mako operations. The company now anticipates a gold output of 140,000 ounces to 150,000 ounces in 2024, surpassing the previous estimate of 130,000 ounces to 140,000 ounces.

Holohan attributed this positive shift to the completion of stripping work in 2023, which has granted access to the high-grade areas of the Mako pit. He noted that gold production at Mako will be weighted towards the second half of 2024 as mining progresses through the orebody and systematic grade increases are expected.

Resolute Mining remains committed to optimizing its operations and maximizing the value of its gold assets. The company's revised production guidance reflects its strategic approach to enhance long-term sustainability and profitability.