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RNS Number : 1349E  Resolute Mining Limited  13 May 2026

13 May 2026

 

Scoping Study Confirms Attractive Economics and Growth Potential at ABC
Project, Côte d'Ivoire

Resolute Mining Limited ("Resolute" or "the Company") (ASX/LSE: RSG) is
pleased to announce the results of a Scoping Study ("Study") for the ABC
Project ("ABC" or the "Project") in Côte d'Ivoire based on the existing 2.16
Moz gold Mineral Resource Estimate ("MRE") published in 2021.

The Study confirms the ABC Project's strong economic potential and its pathway
to become Resolute's second operating gold mine in Côte d'Ivoire, supporting
the Company's strategy to build a diversified, multi-asset gold platform. It
outlines a robust, long-life operation with attractive economics and
meaningful potential upside from further resource growth and exploration
success.

Resolute is accelerating step-out drilling at the Kona Central and Kona South
deposits to unlock further resource growth and build on the Project's strong
progress. To date, the Company has drilled over 25,000 m, with results
expected to support an updated MRE in H2 2026.

Scoping Study Highlights

Production - long-life, open pit gold operation

•    Strong production profile averaging approximately 141 koz per annum
over a 12-year mine life, delivering total gold production of 1.7 Moz at a
competitive life-of-mine ("LoM") all-in sustaining cost ("AISC") of
US$1,614/oz, supporting robust operating margins

•    Large-scale open pit mining operation underpinned by total mill feed
of 82.8 Mt at 0.76g/t Au containing 2.0 Moz of gold, with a low average
life-of-mine strip ratio of 1.82

•    Low-risk development pathway utilising a conventional 7.0 Mtpa
carbon-in-leach ("CIL") processing plant with gold recoveries of 84% and
further recovery optimisation potential during development

•    Strong early cash flow generation with average annual gold
production of 163 koz over the first five years at an attractive AISC of
US$1,565/oz using a gold price assumption of US$3,500/oz,

Financial (post-tax, 100% basis) - attractive metrics and short payback period

•    Net present value at 5% discount rate ("NPV(5%)") of US$1.2bn,
Internal rate of return ("IRR") of 39%, 1.4-year payback at a gold price
assumption of US$3,500/oz

•    At US$4,750/oz gold price the NPV(5%) increases to US$2.3bn with an
IRR of 63% and payback period of under 1 year

•    Competitive capital cost estimate of US$648M

•    Average annual free cash flow and EBITDA of US$262M and US$323M
respectively in first five years of production at US$3,500/oz gold price

Potential upside via MRE growth

•    Based on drilling activities in 2026 mineralisation remains open at
depth and along strike; drilling at Kona South extended mineralisation to the
North and South, highlighting the potential for resource expansion

•    Updated Kona Central and Kona South MRE expected in H2 2026

 

Next Steps

•    Accelerate drilling efforts with a focus on infilling resource as
well as resource expansion

•    Optimize metallurgical testwork to increase recovery rates of the
deposits

•    Initiate ESIA and other required technical study work

•    Site investigations and permitting to target completion of a
Definitive Feasibility Study ("DFS") in 2027

•    Based on potential size of the resource further work will be done to
optimize the size of the processing plant in order to increase the ounce
profile above 200 koz per annum for at least 10 years of mine life

Note: Unless otherwise stated, all dollar figures are United States dollars
($).

 

The production target and forecast financial information in this announcement
are conceptual in nature and are based entirely on Inferred Mineral Resources
and there is no certainty that the outcomes will be realised.

The Scoping Study was undertaken by MineScope Services along with input from
Orelogy, Knight Piésold and ECG Engineering.

The full Scoping Study can be found on the Resolute website on the Reports
(https://www.rml.com.au/investors/reports/) page.

 

 

Chris Eger, Managing Director and CEO commented:

"Resolute is very pleased to announce the results of the scoping study for ABC
which demonstrates the significant economic potential of the ABC Project.
Building on the strong results from the ongoing step-out drilling at the Kona
South and Central deposit, we are confident the Project has potential to grow
and become more commercially attractive.

Based on the study, the ABC Project will produce approximately 141 koz per
annum over 12 years at a competitive average AISC of US$1,614/oz. At a
conservative gold price of $3,500/oz this delivers a post-tax NPV5% of
US$1.2bn and IRR of 39% and a payback of under 1.5 years.

While the initial results demonstrate the potential for a fourth mine for
Resolute, we will continue to progress the Project with an updated MRE planned
for H2 2026 as we are highly confident the resource will continue to expand
and the project economics will only get more attractive with potential to
increase the scale of the mine.

The scoping study now provides Resolute with the required technical platform
to commence the DFS. Progress on exploration, metallurgical testwork, site
investigations and permitting has been prioritised with the target of
completing the required workstreams to finalise a DFS by the end of 2027."

 

 

 

 

 

Cautionary Statement

The Scoping Study referred to in this announcement has been undertaken for the
purpose of ascertaining whether a business case can be made to proceed to
feasibility studies on the technical and financial viability of a mining and
processing operation at the Project and provide a preliminary evaluation of
the development based on the Mineral Resource Estimate (report date: 31 July
2021). This Mineral Resource Estimate was reported as JORC-compliant in the
Company's Ore Reserves and Mineral Resource Statement released on the ASX on
05 March 2026.

The Study is a preliminary technical and economic study of the potential
viability of the Project. It is based on low level technical and economic
assessments that are not sufficient to support the estimation of ore reserves
under the definition of the JORC 2012 guidelines. The use of the word "ore" in
the Study should not be interpreted as referring to an Ore Reserve but
indicates material that has been selected as suitable for processing feed.
Further exploration and evaluation work and appropriate studies are required
before the Company will be in a position to estimate any Ore Reserves or to
provide any assurance of an economic development case. The accuracy of the
capital and operating cost estimates is ±30%.

The information in this announcement that relates to mining, processing,
metallurgical recovery, infrastructure, capital and operating cost estimates
is based on data and assumptions developed for the purposes of a Scoping Study
and does not constitute Ore Reserves or JORC‑reportable estimates.

The Mineral Resources underpinning the production targets in this announcement
have been prepared by a competent person in accordance with the requirements
of the JORC Code. Inferred Resources comprise 100% of the production schedule
over the modelled life of mine. The Company has concluded that it has
reasonable grounds for disclosing a production target which includes an amount
of Inferred Mineral Resources. However, there is a low level of geological
confidence associated with Inferred Mineral Resources and there is no
certainty that further exploration work will result in the determination of
Measured and/or Indicated Mineral Resources or that the production target
itself will be realised.

The Study is based on the material assumptions outlined below. While the
Company considers all of the material assumptions to be based on reasonable
grounds, there is no certainty that they will prove to be correct or that the
range of outcomes indicated by the Scoping Study will be achieved. To achieve
the range of outcomes indicated in the Study, funding of in the order of
US$648 million will likely be required. Investors should note that there is no
certainty that the Company will be able to raise that amount of funding when
needed. It is also possible that such funding may only be available on terms
that may be dilutive to or otherwise affect the value of the Company's
existing shares. It is also possible that the Company could pursue other
'value realisation' strategies such as a sale, partial sale or joint venture
of the Project. If it does, this could materially reduce the Company's
proportionate ownership of the project. Given the uncertainties involved,
investors should not make any investment decisions based solely on the results
of the Scoping Study.

 

 

 

 

 

ABC Project Overview

The ABC Project is located in northwest Côte d'Ivoire approximately 550km
northwest of Abidjan and 460km west of the Doropo project. Resolute acquired
the ABC Project from AngloGold Ashanti in 2025.

Figure 1: Resolute's Projects in Côte d'Ivoire

 

The ABC Project currently consists of four exploration permits -
Faraka-Nafana, Kona, Windou and Gbemanzo - all of which are 100% owned by
Resolute.

 

The Scoping Study is based on the existing inferred MRE prepared by Centamin
Plc (July 2021)which is located on the Kona exploration permit. The MRE
comprises two deposits, Kona Central and Kona South, totalling 72 Mt at 0.93
g/t for 2.16 Moz Au (at a 0.5g/t cut-off).

Figure 2: ABC Project permits

 

The inferred resource converts to an in situ production target of 82.8 Mt at
0.76 g/t Au containing 2.01 Moz.

The Project will encompass an open pit mine, CIL processing facility with a
capacity of 7.0 Mtpa, water supply from known water supply schemes in the
area, power from the Ivorian grid, tailings storage facility ("TSF") and
related infrastructure. Gold production will average 163 koz per annum over
the first five years of operations and 141 koz per annum over the 12-year life
of mine.

The Study demonstrates that the Project has the capacity to deliver robust
returns at a base case price assumption of US$3,500/oz. Project returns
significantly improve at a price closer to spot of US$4,750/oz with the NPV5%
increasing to US$2.3bn and IRR to 63%. Key project operational and financial
highlights are outlined below:

 Gold Price: US$3,500/oz                 Units   Value
 Mine Life                               Years   12
 Total gold production                   koz     1,693
 Upfront capital cost                    US$M    648
 Life of Mine average:
 Gold production                         koz     141
 Revenue                                 US$M    494
 EBITDA                                  US$M    276
 Free Cash Flow (post-tax)               US$M    210
 Cash cost                               US$/oz  1,524
 AISC                                    US$/oz  1,614
 Project years 1 to 5:
 Gold production                         koz     163
 Revenue                                 US$M    569
 EBITDA                                  US$M    323
 Free Cash Flow (post-tax)               US$M    262
 Cash cost                               US$/oz  1,493
 AISC                                    US$/oz  1,565
 Pre-Tax Economics
 NPV 5%                                  US$M    1,624
 IRR                                     %       46%
 Post-Tax Economics
 NPV 5%                                  US$M    1,178
 IRR                                     %       39%
 Payback period (from first production)  Years   1.4

 

Table 1: Economic Summary

 

 

 

 

 

Figure 3: Gold Production Profile (koz) and AISC (US$/oz)

In the first five years average annual gold production is 163 koz at an AISC
of US$1,565/oz. At the base case gold assumption of US$3,500/oz and on a 100%
basis this generates average annual free cash flow of US$262M and a payback
period of 1.4 years.

Figure 4: Free Cash Flow Profile (US$M)

The post-tax NPV sensitivity comparing varying discount rate percentages and
gold price is presented in Table 2. The base case result for the Project is
highlighted in bold.

      3,000  3,500  4,000  4,500  5,000
 5%   749    1,178  1,607  2,036  2,465
 7%   619    999    1,380  1,761  2,142
 10%  460    782    1,103  1,425  1,747

Table 2: Sensitivity of post-tax NPV5% (US$M) to Discount Rate (%) and Gold
Price (US$/oz)

 

Geology and Mineral Resources

The ABC Kona project is situated along the main Archean-Birimian Cratonic
suture zone in western Côte d'Ivoire, specifically associated with the
Sassandra Fault Zone.

The principal mineralised feature identified through mapping and sampling is
the Lolosso structure, a north-south striking mineralised zone interpreted as
a western splay off the major transcurrent Sassandra Fault. The geological
setting includes a narrow keel of later Birimian volcano-sediments entrapped
within earlier Archean thrusted granite and gneissic sheets, providing a
complex structural and lithological host for mineralisation.

Figure 5:
Kona Central lies 3.7 km to the north along strike from Kona South

At Kona South, gold is predominantly hosted in psammitic units (north-south
striking) dipping approximately 70° west. This unit is sandwiched between a
calc-silicate hanging wall to the west and a paragneiss footwall to the east.
An additional mafic volcanic unit lies west of the calc-silicate layer,
completing the local stratigraphy.

The style of mineralisation is structurally controlled and shows a strong
spatial association with arsenopyrite. Arsenopyrite occurs as disseminations
and aggregates aligned with the foliation of the psammitic host. Strong
silicification is evident within mineralised zones, though quartz veining is
rare and does not appear to play a significant role in gold control.

The MRE used in the study is reported in accordance with the JORC Code (2012).
Table 3 presents the MRE at a 0.5 g/t cut-off. The figures in table 3 rounded
to reflect the precision of the estimates and include apparent rounding
errors.

 Deposit       Material Type  Tonnes (Mt)  Grade (g/t Au)  Contained Gold (Moz)
 Kona South    Transported    0.1          1.20            0.00
               Oxidised       1            1.02            0.03
               Transitional   1            1.01            0.03
               Fresh          29           1.05            0.99
 Kona Central  Transported    0.1          0.85            0.00
               Oxidised       0.4          0.86            0.01
               Transitional   0.9          0.81            0.02
               Fresh          40           0.84            1.08
 Total         Inferred       72           0.93            2.16

Table 3: Summary of July 2021 MRE for Kona Central and Kona South deposits
(all Resource are classified as Inferred)

 

Mining

Orelogy Consulting Pty Ltd was engaged to complete the mining aspects of the
Study. The pit optimisations, production scheduling and associated costing are
based on the MRE outlined above.

The preferred mining method at the Project is to utilise a conventional open
pit truck/shovel approach as this is a proven mining method for near surface
gold deposits, and the method is common practice in Côte d'Ivoire.

The Study envisages two open pits, Kona Central and Kona South, with mining
commencing at the higher-grade Kona South deposit. The pits are relatively
shallow at a final depth of 240 m and 210 m for Kona South and Central
respectively.

The schedule uses interim stockpiles to manage run-of-mine material supply and
improve plant feed grade. At a plant throughput rate of 7 Mtpa, the schedule
is constrained by the ore that can be delivered within the overall mining rate
and bench turnover limits. The lower grade in Year 3 is due to this
constraint. By nature of the Study, the mine scheduling results are
preliminary, and therefore, further optimisation is required in future
studies to optimise the mine schedule and plant feed.

Figure 6: Mining schedule and mined gold grades

 

Processing

Orelogy completed the processing schedule with MineScope advising on plant
design and flowsheet.

The process plant is designed as a conventional gold processing facility
capable of treating 7 Mtpa of run-of-mine material. The selected flowsheet
follows a typical gold processing flowsheet comprising of crushing, SAG and
ball milling ("SABC") comminution circuit, gravity recovery, and CIL. This
flowsheet represents a proven and widely applied approach for gold ore types.

The design incorporates a primary gyratory crusher and a SABC comminution
circuit, reflecting the relatively competent material (mill feed consists of
93% fresh material) and the need for operational flexibility. The inclusion of
a pebble crushing circuit is to mitigate SAG mill critical size buildup and
maintain throughput.

Figure 7: Processing schedule and Au grades

Metallurgy

Metallurgical testwork completed to date is limited to a single historical
composite sample (ALS, 2018), supplemented by bulk leach extractable gold
testwork on 50 drill core samples. Accordingly, the metallurgical
understanding is preliminary and indicative only, and further testwork will be
required to support progression to Feasibility Study.

Gold occurs predominantly as native gold, with minor association to sulphide
minerals, principally arsenopyrite. Comminution testing indicates the ore is
very hard and competent, implying relatively high grinding energy
requirements.

Two processing routes were assessed: gravity recovery followed by cyanidation
(CIL), and flotation with concentrate regrind and cyanidation. Both flowsheets
achieved comparable recoveries of approximately 87-89%, with the gravity plus
CIL flowsheet achieving the highest recovery and materially lower reagent
consumption. This flowsheet was therefore selected for the Scoping Study.

 

Capital Costs

A summary of the capital cost estimates is provided in table 4. It is reported
with a base date of Q2 2026 and an accuracy of ±30% (Class 5 AusIMM level).
The total capital cost of US$648M includes US$115M of contingency due to the
preliminary nature of the Study. Totals may not compute due to rounding.

 Cost Area                      Total
 Mining                         43.6
 Process Plant                  139.1
 Reagents & Plant Services      38.9
 Infrastructure                 131.5
 Construction Indirects         64.3
 Project Indirects              38.0
 Owners Costs                   77.3
 Sub-Total                      532.5
 Contingency                    115.2
 Total                          647.6

Table 4:  Capital Cost Estimate (US$M)

 

Mining capital costs include all pre-production mining-related costs including
site establishment and fleet mobilisation.

The proposed plant and infrastructure location was selected by limiting
construction to occur within the current tenement boundary, along with
avoiding interaction with nearby communities and protected forests.
Consideration was also given to minimise ore haulage, waste rock haulage and
cut-and-fill requirements.

Infrastructure capital costs include site earthworks, accommodation, TSF and
power supply. ECG Engineering evaluated the HV power supply and connection to
the Côte d'Ivoire power grid. A 48 km transmission line from the Laboa
Substation to the Project site has been proposed.

Owners costs include approximately US$19M associated with land acquisition and
compensation.

Raw water to the process plant will be supplied from the water storage dam
("WSD"), which is replenished from surface water run off collection points and
the nearby Boa River.

Sustaining capital consists of TSF lifts as well as typical expenditure
required for the consistent operation of the processing plant. From Y2 onward
the average annual sustaining capital expenditure is estimated at US$13.5M.

A closure cost of US$76.0M has been estimated based on the Doropo DFS. The
closure cost includes a contingency of US$17.5M and US$33.1M of costs
associated with the closure of the TSF (provided by Knight Piésold).

 

Operating Costs

The operating cost estimate for the Scoping Study has been prepared by the
contributing parties to an accuracy of ±30%, equivalent to a Class 5 AusIMM
level.

Operating cost estimates have been developed based on preliminary engineering,
benchmark data and assumptions derived from the Doropo DFS.

 

 Deposit          Unit                    Operating Cost (LoM average)

 Mining           US$/total tonnes mined  4.3
 Processing       US$/t milled            13.4
 Site G&A(*)      US$/t milled            2.0

*Includes social development fund (0.5% of turnover) and Transport and
Refining Charges (TCRC)

Table 5:  Approximate LoM average operating costs

 

Q1 2026 Exploration Update

As outlined in the Q1 2026 Activities Report, exploration activity during Q1
focused on drilling programs planned to expand the Mineral Resources at the
Kona deposits.

Drilling successfully advanced efforts to extend known mineralisation at both
Kona South and Kona Central, along strike to the north and south of the
deposits. A total of 64 RC holes for 11,000 m were completed during the March
2026 quarter with drilling at both areas reinforcing the scale and continuity
of the mineralised system.

Drilling progressed strongly during Q1, where activity ramped up to five rigs
toward period end to accelerate delineation and rapidly expand the mineralised
footprint, positioning the project for continued resource growth.

Results from the first 40 holes demonstrate wide intervals of gold
mineralisation across the majority of drilling completed in Q1, reinforcing
the scale and continuity of the system. Key standout intersections that have
been previously reported included:

•     KNRC0499 - 73m @ 0.8g/t Au from 2m

•     KNRC0500 - 80m @ 0.4g/t Au from 88m

•     KNRC0501 - 23m @ 1g/t Au from 6m

•     KNRC0506R - 35m @ 0.9 g/t Au and 21m @ 1.2g/t Au

•     KNRC0508 - 10m @ 1.9g/t Au from 217m

•     KNRC0512 - 31m @ 1g/t Au from 151m

The majority of the results returned were from Kona South which is higher
grade than Kona Central.  The drill intersections clearly confirm the along
strike extensions of the gold mineralisation to the north and south of Kona
South, highlighting potential continued resource expansion.

All reported drill intersections are located outside the current Mineral
Resource block models, highlighting clear potential for a meaningful increase
in the existing resource base and underpinning a compelling growth
opportunity.

Figure 8:  Existing Kona South MRE with Resolute drill results

Figure 9:  Existing Kona Central MRE with Resolute drill results

 

All previously reported drill intersections (in the Q1 2026 Activities Report)
are located outside the current Mineral Resource block models, highlighting
clear potential for a meaningful increase in the existing resource base and
underpinning a compelling growth opportunity.

At both Kona South and Kona Central the mineralisation remains open at strike
and at depth.

 

Next Steps

Resolute is currently drilling at Kona Central and Kona South to expand the
current resources. This will continue throughout Q2 2026. An updated Mineral
Resource Estimate is planned to be announced in H2 2026.

The Company plans to advance the Project through a staged work programme
focused on progressing the Project toward a DFS in 2027. Key activities are
expected to include targeted infill and step‑out drilling to further improve
resource confidence and conversion, continued metallurgical and geotechnical
testwork, optimisation of mine design and processing flowsheet assumptions,
and advancement of environmental, permitting and infrastructure studies.

 

 

 

 

Contact

 Resolute                                                                   Public Relations

 Matthias O'Toole-Howes                                                     Jos Simson, Tavistock

 motoolehowes@resolutemining.com (mailto:motoolehowes@resolutemining.com)   resolute@tavistock.co.uk (mailto:resolute@tavistock.co.uk)

 +44 203 3017 620                                                           +44 207 920 3150

                                                                            Corporate Brokers

                                                                            Jennifer Lee, Berenberg

                                                                            +44 20 3753 3040

                                                                            Tom Rider, BMO Capital Markets

                                                                            +44 20 7236 1010

 

Authorised by Mr Chris Eger, Managing Director and Chief Executive Officer

 

Refer to the cautionary statement on page 1 for additional information.

Further detail on the Scoping Study, including all the material assumptions on
which the production targets and forecast financial information are based, is
included in the Scoping Study on the Company's website.

 

About Resolute

Resolute is an African-focused gold miner with more than 30 years of
experience as an explorer, developer and operator. Throughout its history the
Company has produced more than 9 million ounces of gold from ten gold mines.
The Company is now entering a growth phase through the development of the
Doropo project in Côte d'Ivoire which will supplement the existing
production from the Syama mine in Mali and Mako mine in Senegal.

 

Competent Person Statement

The information in this announcement that relates to the Mineral Resource
estimate has been based on information and supporting documents prepared by Mr
Bruce Mowat, a Competent Person who is a member of The Australian Institute of
Geoscientists. Mr Mowat is a full-time employee Resolute Mining Limited Group
and has sufficient experience relevant to the style of mineralisation and type
of deposit under consideration and to the activity which has been undertaken
to qualify as a Competent Person. Mr Mowat confirms that the Mineral Resource
estimate is based on information in the supporting documents and consents to
the inclusion in the report of the Mineral Resource estimate and related
content based on the information in the form and context in which it appears.

The information in this announcement that relates to mining, processing,
metallurgical recovery, infrastructure, capital and operating cost estimates
is based on technical studies and assumptions appropriate for a Scoping Study
and does not constitute Ore Reserves or JORC‑reportable information.

 

Cautionary Statement about Forward-Looking Statements

This announcement contains certain "forward-looking statements" including
statements regarding our intent, belief or current expectations with respect
to Resolute's business and operations, market conditions, results of
operations and financial condition, and risk management practices. The words
"likely", "expect", "aim", "should", "could", "may", "anticipate", "predict",
"believe", "plan", "forecast" and other similar expressions are intended to
identify forward-looking statements. Indications of, and guidance on, future
earnings, anticipated production, life of mine and financial position and
performance are also forward-looking statements. These forward-looking
statements involve known and unknown risks, uncertainties and other factors
that may cause Resolute's actual results, performance and achievements or
industry results to differ materially from any future results, performance or
achievements, or industry results, expressed or implied by these
forward-looking statements. Relevant factors may include (but are not limited
to) changes in commodity prices, foreign exchange fluctuations and general
economic conditions, increased costs and demand for production inputs, the
speculative nature of exploration and project development, including the risks
of obtaining necessary licences and permits and diminishing quantities or
grades of reserves, political and social risks, changes to the regulatory
framework within which Resolute operates or may in the future operate,
environmental conditions including extreme weather conditions, recruitment and
retention of personnel, industrial relations issues and litigation. The
production target in the Scoping Study contains 100% Inferred Mineral
Resources.  To the extent a production target is based on those Inferred
Mineral Resources, there is a low level of geological confidence associated
with Inferred Mineral Resources and there is no certainty that future
exploration work will result in the determination of inferred mineral
resources or that the production target itself will be realised

Forward-looking statements are based on Resolute's good faith assumptions as
to the financial, market, regulatory and other relevant environments that will
exist and affect Resolute's business and operations in the future. Resolute
does not give any assurance that the assumptions will prove to be correct.
There may be other factors that could cause actual results or events not to be
as anticipated, and many events are beyond the reasonable control of Resolute.
Readers are cautioned not to place undue reliance on forward-looking
statements, particularly in the current economic climate with the significant
volatility, uncertainty and disruption caused by geopolitical events.
Forward-looking statements in this document speak only at the date of issue.
Except as required by applicable laws or regulations, Resolute does not
undertake any obligation to publicly update or revise any of the
forward-looking statements or to advise of any change in assumptions on which
any such statement is based. Except for statutory liability which cannot be
excluded, each of Resolute, its officers, employees and advisors expressly
disclaim any responsibility for the accuracy or completeness of the material
contained in these forward-looking statements and excludes all liability
whatsoever (including in negligence) for any loss or damage which may be
suffered by any person as a consequence of any information in forward-looking
statements or any error or omission.

ASX LISTING RULE 5.16 AND 5.17 REQUIREMENTS

The material assumptions on which the production target for the Project and
the forecast financial information derived therefrom are based are detailed in
the Scoping Study, which is available on the Company's website.

The production target is based on 100% inferred Mineral Resources that have
been prepared by Competent Persons in accordance with the requirements of the
JORC Code (2012) and can be found in the Ore Reserves and Mineral Resource
Statement released on the ASX on 05 March 2026.

 

 

 

 

 

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