Doropo’s Resource Surge Raises Questions on Regulatory and Development Risks

A Boost to Doropo’s Potential

Resolute Mining Limited has unveiled an updated Mineral Resource Estimate (MRE) for its Doropo Gold Project in northern Côte d’Ivoire, revealing a 28% increase in contained gold ounces to 4.4 million ounces at an average grade of 1.19 grams per tonne. This marks a substantial uplift from the previous estimate of 3.4 million ounces, reflecting both the company’s ongoing exploration efforts and the impact of a higher gold price assumption used in the resource modelling.

Near-Surface Riches and Resource Confidence

Most of the mineral resources lie within 150 metres of the surface, making them amenable to open-pit mining methods. Notably, 84% of the resource is classified within the Measured and Indicated categories, underscoring a high degree of confidence in the resource’s geological continuity and grade estimation. The two largest deposits, Kilosegui and Souwa, which together account for approximately 2.3 million ounces, remain open both along strike and at depth, hinting at further upside potential.

Strategic Reassessment Amid Rising Gold Prices

Since acquiring Doropo in the second quarter of 2025, Resolute has been revising the Definitive Feasibility Study (DFS) originally prepared by Centamin in mid-2024. The updated resource estimate incorporates pit optimisations based on a gold price of $3,000 per ounce, a significant increase from the $2,000 per ounce assumption used previously. This recalibration has been instrumental in expanding the resource envelope and enhancing the project’s economic outlook.

Extending the Mine Life and Production Outlook

With the increased resource base, Resolute anticipates extending Doropo’s mine life by at least five years beyond the original 10-year plan outlined in the 2024 DFS. The company is currently updating pit designs and revising capital and operating cost estimates, now assuming a gold price of $1,950 per ounce for Ore Reserve calculations. Production is expected to exceed 200,000 ounces per year during the first four years, maintaining a robust profile consistent with earlier projections.

Regulatory and Development Milestones Ahead

Resolute is progressing towards finalising the updated DFS and Ore Reserve statement, targeted for release in the fourth quarter of 2025. The project awaits approval of the Exploitation Permit by the Interministerial Commission and the subsequent signing of the Presidential Decree. The company expects to reach a Final Investment Decision (FID) by the end of 2025, paving the way for development and production commencement in 2028.

Technical Rigor and Geological Context

The updated resource estimate is underpinned by extensive drilling, sampling, and geological modelling adhering to JORC 2012 standards. The Doropo project lies within the prolific Birimian greenstone belts of West Africa, characterised by structurally controlled orogenic gold mineralisation. Rigorous quality assurance and quality control (QAQC) protocols, including detailed assay verification and data validation, support the reliability of the resource figures.

Looking Forward

Resolute’s strategic acquisition and resource upgrade at Doropo not only bolster its production pipeline but also diversify its West African footprint alongside existing operations in Mali and Senegal. The company’s confidence in further resource growth at key deposits signals a promising future for Doropo as a cornerstone asset in Resolute’s portfolio.