S&P/ASX 300 Index (ASX: XKO) gold stock Resolute Mining Ltd (ASX: RSG) has been enjoying a strong rebound in 2025.
Though shares are slipping today.
Resolute Mining shares closed yesterday trading for 67 cents. In late morning trade on Thursday, shares are changing hands for 65 cents apiece, down 3.0%. Still, that leaves Resolute shares up 57.8% year to date.
For some context, the ASX 300 is just about flat today and up 6.5% so far in 2025.
Here's what investors are mulling over today.
Image source: Getty Images
ASX 300 gold stock reports initial Mineral Resource Estimate
This morning, Resolute Mining announced its initial Mineral Resource Estimate (MRE) for its Bantaco South and West Prospects. Both prospects are located near the ASX 300 gold stock's Mako Gold Mine in Senegal.
The initial inferred MRE for the Bantaco West prospect was reported to be 5.8 million tonnes (Mt) grading 0.97 grams of gold per tonne for 179,000 ounces of gold.
The initial inferred MRE for the Bantaco South prospect came in at 2.2Mt grading 1.2g/t Au for 87koz at 0.5g/t cut-off grade for a total of approximately 266koz of contained gold.
Resolute noted the strong potential to grow resources at its Bantaco Main zone, with a follow up drilling program set to kick off in the second half of 2025.
The miner said that the current combined MREs of its Tomboronkoto and Bantaco projects contain over 600,000 ounces of gold, which could grow amid ongoing exploration results.
What did management say?
Commenting on the initial MRE that's yet to boost the ASX 300 gold stock today, Resolute CEO Chris Eger said, "This milestone demonstrates the excellent progress our exploration team is actively making to successfully extend the life of mine at our Mako gold operation."
Eger added:
The Bantaco Project is key to the extension of Mako and has the possibility to be developed ahead of the Tomboronkoto Project allowing us to build on our strong mining heritage in the region and established stakeholder relationships, which facilitate a clear development timeline.
We are working closely with all stakeholders to accelerate the development of both projects, and based on current progress and continued positive development, we expect to mine at Bantaco in the second half of 2027.
With current Mineral Resource Estimates totalling over 600koz of contained gold across Tomboronkoto and Bantaco we are confident of continued gold production in Senegal for many years to come.
Eger said the projects are a key part of the ASX 300 gold stock's goal to become a leading, diversified multi-asset gold producer.
