#London #United Kingdom #ACG Metals #Gediktepe Mine #Sulphide Expansion

ACG Metals Limited H1 2026 Operations Update

On July 14, 2026, ACG Metals Limited (LSE:ACG) released a detailed update regarding its operations and financial performance for the first half of the year (H1 2026). The company experienced significant milestones, with notable achievements in production and operational safety metrics. Chairman and CEO Artem Volynets, alongside CFO Patrick Henze, is set to discuss these results in a live presentation scheduled for July 21, 2026.

Summary of H1 2026 Performance

During the first half of 2026, ACG Metals made remarkable progress in various areas:

• - Safety performance improved, recording a Lift First Incident Frequency (LTIF) of 2.9 per million man-hours worked, despite a heightened workforce engaged in the Sulphide Expansion Project.
• - The production of 18,487 ounces of gold equivalent (AuEq) substantially surpassed the full-year target of 17,500 ounces, being entirely sourced from stockpiled ore after the depletion of oxide mining activities in 2025.
• - Prices for gold and silver saw considerable gains, increasing by 64% and 142% respectively compared to H1 2025, pushing the realised prices to USD 4,838 per ounce for gold and USD 78.2 per ounce for silver.
• - All-In Sustaining Costs (AISC) rose to USD 1,609 per ounce, reflecting higher royalty costs from elevated commodity prices and a decrease in production volumes.

Progress on Gediktepe Sulphide Expansion Project

The Gediktepe Sulphide Expansion Project remains a pivotal focus for ACG Metals, as it reached 87.2% completion by June 30, 2026. All necessary equipment has been delivered, and first production is anticipated in August 2026.

Key updates include:

• - Significant construction activities progressed within budget, marking the completion of critical civil works and advancing installation tasks.
• - The company reports successful waste stripping, having removed 10 million tonnes of waste while preparing for ore exposure to elevate production rates.
• - The transition to a focus on copper and zinc concentrate production is expected to enhance ACG's operational profile moving forward.

Financial Overview

As of June 30, 2026, ACG reported a net financial debt of USD 140 million, partnered with a cash balance of USD 60 million, which includes USD 28 million of restricted cash. Most of the capital expenditure for the project has been paid, ensuring ACG is well-positioned for future operations.

The firm also stated production guidance for the entire fiscal year remains set between 20–22 kilotonnes of copper equivalent, and AISC is projected to align between USD 2.40 and USD 2.60 per pound of copper equivalent.

Safety and Sustainability Initiatives

ACG Metals’ operational safety measures have yielded positive outcomes, boasting approximately 1.41 million man-hours worked during H1 2026. The company's commitment to safety even amidst increased construction activities illustrates its dedication to upholding industry standards.

Patented Recovery Process Enhancements

In addition to its operational successes, ACG has developed a patented proprietary recovery process, demonstrating breakthroughs in heap leach performance with an increase in gold recovery rates from 75% to 85% and a notable reduction in cyanide consumption. These improvements signify enhanced resilience and cost efficiency in ACG's mining processes, ultimately elevating its profit margins.

Conclusion

With a strong start to 2026, ACG Metals Limited showcases effective management and forward-thinking strategies that position the company for sustained growth in the mining sector. The anticipated first copper and zinc production marks a significant transition in ACG's operational strategy, and stakeholders are encouraged to engage in the upcoming investor presentation for further insights into the company's trajectory. ACG continues to carve its niche as a robust player in the competitive landscape of global mining, aligning with its vision for safe and sustainable operations as the company progresses into the latter half of the year.