#London #United Kingdom #ACG Metals #Gediktepe Mine #LSE ACG

ACG Metals Limited's First Quarter 2026 Operations and Capital Structure Update

Overview
On April 21, 2026, ACG Metals Limited (LSE: ACG) published its operations and capital structure overview for the first quarter of 2026. The company's performance reflects a careful approach to management and growth strategies, aligned with their vision of becoming a leading copper-focused producer with sustainable operations.

Performance Summary
The first quarter of 2026 saw notable developments despite a 22% decline in total production, amounting to 12,168 oz of gold equivalent (AuEq). This reduction was anticipated as the company transitioned from oxide ore mining to sulphide ore extraction. In line with this shift, the company reported a significant decrease in C1 cash costs—down 12% to US$387/oz AuEq, largely due to the processing of stockpiled oxide ore completed in 2025.

Moreover, the average realized prices witnessed remarkable increases, rising by 77% for gold to US$5,023/oz and 166% for silver to US$84.4/oz, thus bolstering revenue streams despite the lower production volume.

Safety and Equipment Overview
Despite the operational intensification, there was a rise in the lost time injury frequency (LTIF), primarily attributed to adjustments made by the construction and mining teams to the increased operational tempo. However, continuous focus on safety training led to zero LTIs being recorded in March. The company remains committed to enhancing safety protocols, with an LTIF rate of approximately 3.2 per million man-hours documented overall.

ACG Metals completed the oxide ore mining by the end of 2025 and has since shifted its focus to sulphide ore stripping. The ongoing investments and expansion projects have demonstrated significant advancements—most notably, the Gediktepe Sulphide Expansion Project is well ahead of schedule and projected to begin production mid-2026.

Expansion Projects
The Gediktepe Sulphide Expansion Project is a focal point for ACG, having allocated US$101 million of its US$146 million budget by March 31, 2026. Alongside this, the company has commenced essential technical, engineering, and procurement activities for its enriched ore project. Key developments include completing metallurgical testing, initiating the design phase, and securing critical equipment.

Financial Health
With a solid financial base, ACG Metals reported net financial debts at a modest US$78 million supported by cash reserves of US$122 million. These strong financial metrics provide the necessary leverage to capitalize on growth opportunities and manage ongoing projects effectively.

CEO's Commentary
Artem Volynets, CEO of ACG Metals Limited, described Q1 2026 as a robust start for the year, highlighting effective operational execution and the importance of prudent financial management. The developments and ongoing projects promise a transformational period for the company as it prepares to evolve into a long-life copper producer moving forward.

In summary, ACG Metals Limited's Q1 2026 operational milestones underscore its focus on strategic planning, safety enhancements, and targeted expansions, setting the stage for continued growth in the mining sector and beyond. With a strong performance against market challenges, ACG is positioned for significant advancements in the copper production landscape.