ACG Metals Limited: H1 2025 Operations and Capital Structure Update
On July 15, 2025, ACG Metals Limited (LSE: ACG) provided a comprehensive update on its operations and capital structure for the first half of the year. The company's performance showcases significant achievements and ongoing projects aimed at enhancing its production capabilities and market position.
Key Highlights of H1 2025
During this period, ACG Metals reported a notable upgrade in its fiscal year 2025 production guidance, now anticipating a production range of 36,000 to 38,000 ounces of gold equivalent (AuEq). This upgrade is attributed to operational enhancements that have increased gold and silver recoveries significantly, marking a critical step towards meeting the company's production targets.
The company achieved an impressive milestone of 817 days without lost time injuries (LTI), showcasing its commitment to safety and operational integrity. Furthermore, the Gediktepe Mine continued to perform robustly, reporting a 3% increase in AuEq production from the same period last year, resulting in sales of 23,021 ounces of AuEq. This sustained operational performance is reinforced by a strategic focus on cost discipline, reducing all-in sustaining costs (AISC) by 13% to $1,060 per ounce from $1,218 per ounce in H1 2024.
In terms of financial performance, ACG Metals realized an average gold price of $2,950 per ounce in H1 2025, a significant 37% increase compared to the previous year. These results indicate a strong recovery in the market and the effectiveness of the company's pricing strategy.
Moreover, the company has successfully made the first scheduled coupon payment on its $200 million senior secured bond, due in 2029, which was a pivotal moment in strengthening its capital markets presence. Additionally, the repayment of outstanding sponsor loans ahead of schedule has further solidified ACG's financial stability.
Progress on Expansion Plans
The Gediktepe Sulphide Expansion Project remains on track, with significant advancements made in engineering, procurement, and construction. As of June 30, 2025, approximately 48% of engineering design has been completed, alongside 36% of procurement deliveries and 15% of construction. The project aims to reinforce Gediktepe’s transition into a long-term, low-cost copper and zinc producer, with commissioning expected in Q1 2026.
Following a successful capital structure update, ACG now demonstrates a net debt of $66 million, alongside a substantial cash balance of $133 million, positioning the company well for future growth. The structured collar hedging strategy employed by ACG has provided effective downside protection while still allowing for exposure to potential upside in gold prices.
Forward-Looking Statements
Chairman and CEO Artem Volynets highlighted the strength of the team and their focus on operational improvements, noting that the 17% increase in production guidance for the year signifies a commitment to excellence within the company. The announcement concluded with an invitation for investors to join a live presentation on July 22, 2025, where more detailed insights into the company's progress and future strategies will be shared.
With an experienced management team and a clear vision for growth, ACG Metals Limited is strategically positioned to continue its success in the competitive mining sector, delivering value to shareholders and contributing positively to the industry at large.
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