Asante Provides Financial and Operating Results for the Quarter Ended April 30, 2025

Core Viewpoint - Asante Gold Corporation reported significant operational progress and financial results for Q1 2026, with expectations for continued growth and production increases in the coming years [3][5][14]. Financial Results - Revenue for Q1 2026 was $141.98 million, a 24$114.31 million in Q1 2025, driven by higher gold prices despite a lower volume of gold sold [4][5]. - Total comprehensive loss for the quarter was $(20.04) million, compared to$(16.04) million in the same period last year [4]. - Adjusted EBITDA rose to $30.66 million from$13.03 million year-over-year, reflecting the impact of high gold prices [6]. Operational Results - Gold equivalent production was 51,912 ounces, down from 53,379 ounces in the same quarter of the previous year, attributed to lower feed grades at the Bibiani mine [7][11]. - The average gold price realized per ounce was $2,946, compared to$2,133 in the same period last year [5]. - All-in sustaining costs (AISC) increased by 58% to $2,971 per ounce, primarily due to increased stripping costs and lower grade ore [8][12]. Bibiani Mine Performance - Total material mined at Bibiani increased by 291.4$46.67 million, up from $41.31 million year-over-year, with an average gold price realized of$2,794 per ounce [9]. Chirano Mine Performance - Revenue for the Chirano mine was $95.31 million, an increase from$73.00 million in the same quarter of 2024 [15]. - Gold equivalent production was 34,671 ounces, slightly up from 34,196 ounces year-over-year, despite a decrease in ore grade processed [19]. - AISC for Chirano increased to $2,587 per ounce from$1,951 per ounce, driven by higher sustaining capital expenditures [20]. Future Outlook - The company plans to produce between 155,000 and 175,000 gold ounces at both Bibiani and Chirano for the year ending January 31, 2026, with significant production increases expected in the latter part of the fiscal year [14][21]. - The commissioning of the sulphide treatment plant is anticipated to enhance gold recovery and is expected to be fully operational by Q3 2026 [13][14].