Resolute Mining Limited has entered into a binding agreement to acquire two gold projects in Côte d’Ivoire – the Doropo and ABC Projects – from AngloGold Ashanti for a total cash consideration of US$150 million. This deal involves an upfront payment of US$25 million at closing, followed by deferred payments of US$50 million after 18 months and US$75 million 30 months after closing. In addition, the consideration includes a 2% royalty on the ABC Project and a contingent US$10 million payment tied to the release of a Feasibility Study that demonstrates Mineral Reserves exceeding 1 million ounces of gold. The Doropo Project, which is at the definitive feasibility study stage, has an estimated Mineral Reserve of 1.88 million ounces at a grade of approximately 1.53 g/t gold. The study outlines an open pit operation capable of producing about 167,000 ounces annually over a ten‐year mine life with an all-in sustaining cost around US$1,047 per ounce. The project’s attractive technical indicators include a robust post-tax internal rate of return of 34% with a payback period of just over two years at a gold price assumption of US$1,900 per ounce. The ABC Project is described as a greenfield asset with an inferred Mineral Resource of around 2.16 million ounces. Resolute plans to fund both the acquisition and development from its existing liquidity, which stood at more than US$185 million as of 31 March 2025, supplemented by cash flows from its operations in Mali and Senegal and project finance for development. The company is aiming to reach a final investment decision by the end of 2025, followed by about two years of construction, with first production targeted by mid-2028. The acquisition is expected to diversify Resolute’s portfolio in a stable mining jurisdiction and add significant near-term production, pushing annual output beyond 500,000 ounces once all projects are fully operational. Market sentiment on the news is mixed. On the bullish side, the acquisition not only diversifies Resolute’s asset base in a politically stable region but also comes with promising technical data, low operating costs, and strong IRR figures that could boost overall cash flow and shareholder value. The robust liquidity position and plans to optimize the existing feasibility study further enhance the project’s appeal. However, some bearish considerations remain; the deferred nature of key payments, potential permitting delays, execution risks in a new jurisdiction, and reliance on continued cash flow from existing operations could pressure near-term performance if any of these challenges arise. Overall, the strategic move has the potential to sharpen Resolute’s competitive edge, though it carries some operational and market risks that all investors should monitor closely.