Asante Gold reports rising output at Bibiani, Chirano amid operational gains

Asante Gold Corporation has reported steady operational progress at its Bibiani and Chirano mines in Ghana, with improved production levels and ongoing efforts to optimise output despite some operational challenges.

The company said Bibiani recorded its seventh consecutive month of gold production growth through January 2026, supported by increased material movement and an expanded mining fleet—the largest since 2023. Open-pit mining activity has ramped up, with combined material movement at the Main Pit and Russel Pit reaching about 6.5 million tonnes per month.

However, near-term production growth has been affected by equipment availability challenges, delays in maintenance mobilisation, and a slip along the southeastern wall of the Main Pit. This has necessitated a temporary resequencing of mining activities, with lower-grade ore expected in the first half of 2026 and higher-grade material deferred to the second half. The company indicated that no safety incidents were recorded and that mining in other areas continues uninterrupted.

At the processing level, Bibiani’s sulphide treatment plant is performing in line with expectations, with gold recovery improving significantly following the commissioning of an oxygen plant. Recovery rates have risen from about 63 percent to between 75 and 80 percent, with further optimisation measures underway. The company is also implementing plant expansion and de-bottlenecking initiatives aimed at increasing throughput capacity to 4 million tonnes per year by the end of 2026.

Meanwhile, Chirano operations have shown strong recovery, with more than 95 percent of the underground mining fleet now mobilised following equipment upgrades. Underground development has exceeded 1,100 metres per month since November 2025, supporting improved access to ore. Open-pit mining activities have also expanded, with new production areas at Sariehu and Kolua contributing to consistent ore supply.

Despite earlier setbacks, including equipment delays and technical challenges, both mines contributed to consolidated production exceeding 20,000 ounces in January and February 2026, signalling a positive ramp-up trend. Preliminary figures indicate Bibiani produced about 9,000 ounces and Chirano about 11,000 ounces in February.

Asante Gold said full-year 2025 production met revised guidance and expressed confidence in achieving stronger output in 2026 as operational improvements take effect. The company expects Bibiani to reach average monthly production above 20,000 ounces by the fourth quarter of 2026.

On the corporate front, the company has settled a significant portion of its gold swap obligations and is in discussions with lenders to defer remaining payments to support liquidity during the ramp-up phase. It also anticipates a $100 million drawdown in May 2026 to strengthen its financial position.

Asante added that it will release its full-year 2026 production guidance alongside its 2025 financial results later in March and is progressing toward an Australian Securities Exchange secondary listing by the end of the second quarter of 2026.