Asante Gold production jumps 46% on strong Ghana mine performance

Gold Corporation has reported a 46.1% increase in gold equivalent production for the first half of 2026, driven by improved performance at its Bibiani and Chirano mines in Ghana.

The company produced 117,076 equivalent ounces in H1 2026, compared with 80,126 ounces during the same period in 2025. Gold equivalent sales also increased by 46.6% to 117,871 ounces.

Asante recorded $543.8 million in revenue for the first half, representing a 124% increase from $242.8 million in H1 2025. Adjusted EBITDA rose sharply to $160.1 million from $4.4 million over the same period.

For the second quarter, the company produced 57,274 equivalent ounces at an all-in sustaining cost (AISC) of $4,281 per ounce.

At Bibiani, H1 gold equivalent production reached 51,737 ounces, up from 25,499 ounces a year earlier. Production at Chirano increased to 65,339 ounces, compared with 54,627 ounces in H1 2025.

Asante said production at Bibiani is expected to improve in the second half of the year as mining progresses into higher-grade material in the northern section of the Main Pit.

The company maintained its 2026 production guidance of 275,000–300,000 equivalent ounces at a consolidated AISC of $3,200–$3,600 per ounce, with stronger production and lower costs expected in the second half.

Asante also said it has deferred or cancelled approximately $50 million in previously planned capital expenditure as part of efficiency measures across its operations.

The company has budgeted $23.4 million for exploration in 2026 and said updated technical reports for Bibiani and Chirano show combined Measured and Indicated Mineral Resources of 4.6 million ounces.

Asante said it is also pursuing financing initiatives to strengthen its liquidity position, including discussions with lenders on additional financing and potential debt restructuring.