The new life-of-mine (LoM) production targets compared with the 214 360 oz of gold produced in the 2020 financial year.

Meanwhile, all-in sustaining cost over the LoM is expected to decrease to around A$1 000/oz, compared with the A$1 203/oz reported in 2020.

Resolute told shareholders that ongoing mine optimisation at Syama, along with ongoing exploration and feasibility studies at the Tanbakoroni underground mine, had resulted in the updated LoM plan.

“We are very pleased to release our latest plans for the Syama operation, which highlights an improved production and cost profile over the current 11-year mine life. This follows a period of exploration and mine design work at Tabakoroni together with extensions of our oxide operations,” said Resolute interim CEO Stuart Gale.

The oxide operations at Syama are expected to continue until the end of 2023, and will produce some 80 000 oz/y, while the Tabakoroni underground operations currently have a mine life of seven years, and will start when openpit oxide production finishes in 2024.

Over the 11-year mine life, Syama is expected to produce some 2.9-million ounces of gold.

“Syama has a significant gold endowment and there is still a great deal of exploration to be undertaken in this exceptionally prospective area. We remain very confident that the Syama LoM will continue to develop and extend beyond what we have published today,” said Gale.

“In addition, we also remain focused on identifying further extension and development opportunities at Mako in Senegal, to extend our mining activities beyond the current Mako LoM.”