ACG Metals Reports 49% Increase in Gold Equivalent Production in FY24

February 12, 2025 07:08 PM AEDT | By Sonal Goyal

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ACG Metals Reports 49% Increase in Gold Equivalent Production in FY24 — Image source: shutterstock

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Highlights

Gold Equivalent Surge: Gediktepe Mine boosted production by 49%, with 57koz of Gold Equivalent sales in 2024.

Cost Discipline Maintained: All-in Sustaining Costs (AISC) fell by 2% to remain below $1,150/oz, while realized metal prices increased by 22%.

Strategic Growth Milestones: The company secured a $146m EPC contract and a $200m bond placement to fund its sulphide expansion project.

ACG Metals Limited (LSE:ACG) has announced a robust operational performance for Q4 2024 and FY2024, reporting significant production increases, cost discipline, and strategic advancements at its Gediktepe Mine.

Gediktepe delivered a 49% rise in Gold Equivalent production, reaching 57koz in sales, while keeping AISC below $1,150/oz, demonstrating strong cost management and operational efficiency. Additionally, the company capitalized on a 22% rise in realized metal prices, further enhancing profitability.

Q4 2024 Performance

Higher Ore Grades: Gold grade rose 51% year-on-year (3.6 g/t), and Silver grade increased 45% (83.3 g/t).
Production: 13,097oz of Gold and 215,660oz of Silver, yielding 15,651oz of Gold Equivalent.
Ore Processed: 225,861 tonnes, aligning with the life-of-mine plan.
Cost Control: C1 costs at $572/oz (+57% YoY) and AISC at $1,108/oz (+44% YoY).
Stronger Pricing: Average realized prices of $2,667/oz for Gold (+35%) and $32/oz for Silver (+36%).

FY2024 Performance

Zero Lost-Time Incidents: 1.9 million LTI-free man-hours, reinforcing safety commitment.
Optimized Operations: 713,181 tonnes mined (-8% YoY), with 801,600 tonnes processed (+18% YoY).
Gold & Silver Production: 46,993oz of Gold and 709,380oz of Silver, leading to 55,374oz of Gold Equivalent.
Cost Efficiencies: C1 costs at $606/oz (-4%) and AISC at $1,139/oz (-2%).
Strategic Financial Advancements:
- Re-admission to the London Stock Exchange after Gediktepe Mine acquisition.
- $146m EPC contract signed with GAP İNŞAAT.
- $200m secured bond placement to fund sulphide expansion.

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