Syama Gold Mine

Combined open-pit and underground gold complex comprising the Syama Underground sub-level cave, Syama North open pits (A21), satellite oxide deposits (Cashew, Tellem, Paysans, Porphyry Zone) and old tailings. Located in the southwest of Mali, approximately 300 km southeast of Bamako and 30 km from the Cote d'Ivoire border. Owned 80% by Resolute via subsidiary SOMISY with the Government of Mali holding 20%; encumbered by a variable royalty rate under Mali's 2023 Mining Code. Two processing plants currently operate near nameplate capacity of 3.9 Mtpa, treating both oxide and sulphide ores. Syama Sulphide Conversion Project (SSCP) is under construction to lift sulphide processing capacity from 2.4 Mtpa to 4.0 Mtpa through oxide-circuit modifications and roaster upgrades, with two-stage commissioning planned across Q2 and Q3 2026. 2025 output was 176,341 oz Au at AISC US$2,008/oz, contributing over 60% of Group production. 2026 guidance 195-210 koz at AISC $1,950-2,150/oz; 2026 capex US$110-125 million including SSCP completion and Syama North A21 waste stripping.