Asante Gold Corporation delivered record H1 2026 revenue of $543.8 million, representing a 124.0% increase over the $242.8 million reported in H1 2025.

The financial performance was underpinned by H1 2026 gold equivalent production of 117,076 ounces at a consolidated all-in sustaining cost of $4,070 per ounce. Production increased by 46.1% compared to the 80,126 ounces produced in the first half of 2025, driven by higher output across both the Bibiani and Chirano gold mines in Ghana. Adjusted EBITDA for the six-month period reached $160.1 million, compared to $4.4 million in the prior-year comparative period.

For the second quarter of 2026, Asante produced 57,274 equivalent ounces at a consolidated AISC of $4,281 per ounce, generating $243.4 million in revenue and $57.9 million in adjusted EBITDA.

“Operationally, this progress is reflected in performance at both sites during the quarter. At Bibiani, the mining fleet reached full planned capacity during the quarter and we are now transitioning into the higher-grade northern section of the Main Pit, which we expect to be a key driver of a stronger second half. At Chirano, the underground fleet upgrade delivered earlier this year, plus open pit mining at Aboduabo, drove stronger ore delivery. Implementation of our suite of efficiency initiatives is also progressing strongly. Approximately $50 million of previously planned capital expenditure has been deferred or cancelled so far this year, and further cost efficiency work is underway across contractor terms, procurement and supply chain.”

— Campbell Baird, Acting Chief Executive Officer

The company reaffirmed its full-year 2026 gold production guidance of 275,000 to 300,000 equivalent ounces at a consolidated AISC of $3,200 to $3,600 per ounce. Management expects significantly higher production and lower operating costs during the second half of 2026, weighted toward the fourth quarter, as mining progresses into the higher-grade northern section of the Bibiani Main Pit.

Asante is implementing a layered efficiency program across mining, processing, capital projects, and supply chain management. Approximately $50 million in previously planned capital expenditure has been deferred or cancelled to date, including the cancellation of the System 3 crusher project and reductions in underground development spend at Bibiani.

Three years ago, Asante acquired a 90% interest in the Chirano Gold Mine from Kinross Gold Corp. for $225 million, with the Ghanaian government retaining a 10% carried interest.

To support ongoing operations and capital projects, the company faces specific financing milestones. Under a May 2026 waiver agreement with its debt and stream counterparties, Asante is required to secure aggregate funding of at least $100 million, excluding a recently announced $50 million gold forward agreement, by August 31, 2026. Management remains in active discussions with lenders regarding potential debt facility extensions, conditions variations, and debt restructuring. Additionally, new diesel generator sets are scheduled to be commissioned and online at Bibiani by the end of October 2026 to offset local grid stability issues.

Read the full announcement: Asante Reports Q2 & H1 2026 Operating & Financial Results