Doropo Project NPV Hits US$2.54 Billion as Resolute Approves Final Investment Decision

Resolute Advances West African Ambitions

Resolute Mining Limited has taken a decisive step forward in its West African expansion strategy by approving the Final Investment Decision (FID) for the Doropo Gold Project in Côte d’Ivoire. This milestone signals the transition from planning to construction, with work expected to begin in the first half of 2026. Situated in the Bounkani Region near the Burkina Faso border, Doropo is poised to become a cornerstone asset for Resolute’s portfolio.

The company’s leadership emphasises that this decision aligns with their ambition to become a leading multi-asset gold producer in the region, targeting annual production exceeding 500,000 ounces by the end of 2028. The project’s robust economics and technical viability, validated through extensive studies and the granting of a mining permit by the Ivorian government, underpin this confidence.

Economic Strength and Operational Outlook

The Doropo project boasts a 13-year mine life with a life-of-mine gold production estimate of approximately 2.2 million ounces. The updated Definitive Feasibility Study (DFS) released in December 2025 assumes a gold price of US$4,000 per ounce and outlines an upfront capital cost of US$516 million. Key financial metrics include a post-tax net present value (NPV) of US$2.54 billion at a 5% discount rate and an internal rate of return (IRR) of 72%, with a payback period of just over one year from first production.

Operationally, the project is expected to deliver an average annual production of 169,000 ounces over its life, with the first five years averaging 204,000 ounces annually at an all-in sustaining cost (AISC) of US$554 per ounce. These figures highlight Doropo’s potential to generate strong cash flows and contribute significantly to Resolute’s growth trajectory.

Financial Position and Next Steps

Resolute enters the construction phase from a position of financial strength, reporting a net cash balance of US$209 million as of December 31, 2025. The company has indicated it will continue to assess funding options as the project progresses, maintaining flexibility to support additional growth initiatives. This prudent approach reflects an awareness of market conditions and the importance of preserving balance sheet resilience.

CEO Chris Eger emphasised the broader benefits of the project, noting its potential to deliver enduring value not only to shareholders but also to local communities and national partners in Côte d’Ivoire. The company’s commitment to responsible development and stakeholder engagement will be critical as Doropo moves into the construction and operational phases.

Looking Ahead

With the FID now approved, all eyes will be on Resolute’s execution of the Doropo project. The company’s ability to manage construction timelines, control costs, and navigate the political and social landscape in Côte d’Ivoire will be key determinants of success. Given the project’s scale and strategic importance, Doropo could well redefine Resolute’s position in the West African gold mining sector.