Our Strategy

Our corporate strategy remains consistent and clear - deliver long-term stakeholder returns by maximising free cash flow generation from responsible mining of high quality, long life assets and disciplined capital allocation.

Our operational strategy is focused on long-term production of profitable ounces - value over volume. Stringent cost management and disciplined capital allocation provides the Company with the financial flexibility to promote further growth both organically and through value-accretive opportunities.

This is achieved through our three strategic pillars:


US$112m paid in EMRA profit share

US$27m in royalties to Egypt

US$ 58 m paid and proposed as a FY23 dividend to shareholders

Published our Climate Change Strategy to 2030 including our Decarbonisation Roadmap

Expanded our local supply chain by value and volume

Updated Code of Conduct and Diversity and Inclusion policy


  • Foreign direct investment to our host countries
  • Complete Doropo environmental and social impact assessment
  • Develop Egyptian public engagement campaign
  • Deliver on Sustainability Linked Loan targets for diversity, workforce development and climate
  • Return a minimum of 30% of free cash flow to shareholders in cash dividends


  • Achieved 9.5 million hours LTI-free, beating targeted LTIFR by 83%
  • 2023 guidance delivered
  • Achieved gross four-year cost savings target of US$150 million
  • Published the updated Life of Mine Plan (NI 43-101) for Sukari
  • Commissioned the paste-fill plant
  • Completed gravity gold circuit study


25% improvement on three year rolling average TRIFR

Produce 470,000-500,000 ounces

AISC US$1,200-1,350 per ounce sold

Complete the 285,000 metre drill programme at Sukari mine

Complete the open pit accelerated waste stripping programme

Connect to the Egyptian Grid


  • Agreed the EDX exploitation terms with the Egyptian government
  • Completed maiden drilling programme at EDX
  • Published Doropo PFS
  • Increased M&I resources at Doropo by 23%


  • Complete the Doropo DFS and ESIA, submit mining licence application
  • Continue Systematic EDX field exploration, including completing 15,000 metre second drilling programme in Nugrus
  • Continue to evaluate inorganic opportunities