Asante Gold Plans 500,000 Oz Annual Production by 2028

Asante Gold Corporation has released an updated five-year outlook projecting rapid growth in gold production from its Bibiani and Chirano mines in Ghana, with annual output expected to surpass 500,000 ounces by 2028. The company anticipates cumulative gold production of 2.2 million ounces and over $2 billion in unlevered free cash flow between 2025 and 2029, supported by increased mineral reserves, expansion projects, and declining all-in sustaining costs. Production is expected to rise from 339,000 ounces in 2025 to 455,000 ounces in 2026, reaching the 500,000-ounce mark by 2028 as both mines expand operations and reserves. Asante also forecasts a significant reduction in mining costs, with AISC expected to fall below $1,000 per ounce by 2028. Despite these positive operational projections, financial challenges persist, including negative equity and profitability issues, which may impact future stock performance. The company is also advancing discussions for a new financing package to support its growth initiatives.