Asante Gold Corporation reported its second quarter 2026 financial and operating results. The company has a monthly production forecast for the fiscal year and an update on the sulphide treatment plant for the Bibiani Gold Mine. Dave Anthony, President and CEO, highlighted capital constraints’ impact on performance but expects improved results with a $500 million financing package.

The Company expects rapid production growth at Chirano and Bibiani, with a production forecast of 125,000 to 130,000 ounces of gold from each operation for the current fiscal year. The consolidated production target for 2026 remains at 450,000 ounces, a 70% increase over 2025 guidance. Growth catalysts include the commissioning of new facilities and plant upgrades for increased throughput.

At Bibiani and Chirano, exploration activities are being ramped up to facilitate the development of new pits and maximize plant throughput. The company is focusing on accessing higher-grade ore and increasing gold recovery rates. Various initiatives are underway to increase monthly production in the latter part of the fiscal year, as shown in the 2025 Monthly Production Outlook.

The commissioning of the new sulphide treatment plant at Bibiani is in progress, with operations expected to start in September 2025. The plant will optimize gold recovery rates, increasing from 60% to up to 92%. Exploration activities at both mines are ongoing to support future mineral resource growth and life-of-mine extensions.

In Q2 2026, the Company produced 28,213 gold equivalent ounces, with an increase in consolidated all-in sustaining costs compared to the same period in 2025. The Bibiani Mine saw an increase in total material mined to access higher-grade ore. Production was impacted by draws from low-grade stockpiles and a high proportion of sulphide ore processing.

At Chirano Mine, ore mined from both open pit and underground operations decreased in Q2 2026 compared to the same period in 2025. Maintenance shutdowns and equipment availability issues affected ore processing. The combination of lower ore grades and recovery rates resulted in decreased gold equivalent ounces produced compared to the prior period.

Asante reported revenue of $101 million for the three months ended July 31, 2025, with a decrease in gold sold compared to the prior period. Adjusted EBITDA was lower due to production costs. The Company’s forward-looking statements are based on several assumptions and factors, including production forecasts, exploration results, and plant upgrades.

Read more at GlobeNewswire: Asante Reports Results for the Quarter Ended July 31, 2025