S&P/ASX 300 Index (ASX: XKO) gold stock Resolute Mining Ltd (ASX: RSG) is shining bright today.
Again.
Resolute Mining shares closed on Friday trading for 70 cents. In afternoon trade on Monday, shares are swapping hands for 73.5 cents apiece, up 5.0%.
For some context, the ASX 300 is down 0.3% at this same time.
Today's outperformance is par for the course for Resolute Mining in 2025, with shares now up 79.3% year to date, smashing the 7.9% gains delivered by the index.
Some of those outsized gains have come thanks to the surging gold price.
Gold is currently trading for US$3,584 per ounce, just off this weekend's new record highs. That sees the gold price up a blistering 36.5% so far in 2025.
The ASX 300 gold stock has also grabbed investor interest with a series of promising exploration and acquisition updates over the year.
Today's lift comes following the release of an updated Mineral Resource Estimate (MRE) for the miner's Doropo Gold Project, located in Cote d'Ivoire (formerly the Ivory Coast). Resolute Mining announced its acquisition of the project on 1 May from AngloGold Ashanti for US$150 million.
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ASX 300 gold stock lifts off on boosted gold resource
Investors are bidding up Resolute Mining shares today after the company reported a Total Measured, Indicated and Inferred MRE of 114 million tonnes grading 1.19 grams of gold per tonne.
Management noted that 84% of the Mineral Resources are in the Measured and Indicated category.
The new 4.4-million-ounce MRE represents a 28% increase from the prior estimate.
And the ASX 300 gold stock could keep a lid on costs, with most of the Mineral Resources reported to be within 150 metres of the surface.
Looking ahead, the miner expressed confidence that the MRE will continue to grow, noting that its current optimisations are based on conservative pit shell assumptions. Resolute Mining also said the two largest prospects at Doropo, Kilosegui, and Souwa, remain open along strike and at depth.
What did management say?
Commenting on the results helping lift the ASX 300 gold stock today, Resolute Mining CEO Chris Eger said, "This increase in the size of the Mineral Resource at Doropo is a promising first step and one we expected given the change in the gold environment since Centamin's DFS [Definitive Feasibility Study] published in July 2024."
Eger added:
We are confident that Doropo will be a high-quality long-life mine underpinned by the expectation of further resource growth at Kilosegui and Souwa. The major increase over the existing Resource indicates major upside at Doropo and is a key consideration in the updated DFS.
We are continuing the optimisation studies and expect to provide the updated DFS and Ore Reserve by the end of the year.
