| RNS LONDON STOCK EXCHANGE RNS Strategy/Company/Operations Update FY AND Q4 2025 OPERATIONS UPDATE – AMENDMENT ACG METALS LIMITED Released 11:45:26 19 January 2026 RNS Number : 4570P ACG Metals Limited 19 January 2026 19 January 2026 ACG METALS LIMITED ("ACG" or the "Company") FY and Q4 2025 Operations Update ACG Metals Exceeds Guidance with Sulphide Project on track ACG Metals Limited is pleased to announce its operations update for the fourth quarter of 2025 ("Q4 2025") and financial year ("FY 2025"). Artem Volynets (Chairman and CEO) and Patrick Henze (CFO) will provide a live presentation via Investor M on 26 Jan 2026, 12:00 GMT. To attend, investors can join via this link: https://www.investormeetcompany.com limited/register-investor The Company finished the year with an LTIF of 0.66 including 1.6 M man-hours worked LTI free. ACG delivered a strong finish to 2025, exceeding production guidance with 39.2 koz AuEq produced (3% over and 39.5 koz AuEq sold during the Gediktepe mine's first full year under ACG's ownership. Operational efficie controls drove a 18% reduction in C1 cash costs to US$499/oz AuEq. AISC increased to US$1,244/oz AuEq fro year-on-year, driven by the increases in gold and silver prices, resulting in higher royalty payments. The Company is pleased to announce its 2026 production and AISC guidance at 20 – 22 ktpa CuEq production, 17.5 koz AuEq of oxide production stacked and presently under leach. AISC are expected to be at approximate US$2.60/lb CuEq in this transformational year for ACG Metals. The oxide production cost will significantly ben reduced royalty rate with EMX Royalty Corporation (2.25% this year vs 10% last year). |
The Gediktepe Sulphide Expansion Project advanced significantly during the year and is on time and o
commercial production by the end of H1 2026, transitioning ACG into a copper producer.
The Enriched Ore Treatment Project at Gediktepe mine is targeting an additional c.57kt CuEq from enric
stockpiles on site over a four-year period. In Q4 2025 the Company completed a scoping study and basic
Permitting, metallurgical test works, and detailed engineering will commence in Q1 2026.
ACG's net debt as of December 31, 2025 was US$65 million.
Artem Volynets, Chairman and CEO of ACG, said:
"We are proud of our consistent outperformance last year, demonstrating the exceptional operating capabilities of
ACG is well positioned to complete the transition to a copper producer this year, with Sulphide Project construct
and on time, while continuing to benefit strongly from the production of gold and silver from the residual oxide or
We are making great progress on our strategy to establish ACG Metals as a leading growth copper company on th
FY 2025 Operating Summary
2025 vs 2024
| 351,723 | -51% | Mining |
|---|---|---|
| 2.26 | 4% | |
| 75.4 | 21% |
Total Ore Mined t 351,723 -51%
Au Grade g/t 2.26 4%
Ag Grade g/t 75.4 21%
| 354,472 | -56% | Process |
|---|---|---|
| 2.56 | 1% | |
| 94.0 | 31% |
Total Ore Processed t 354,472 -56%
Au Grade g/t 2.56 1%
Ag Grade g/t 94.0 31%
| 32,516 | -31% | Production |
|---|---|---|
| 587,947 | -17% | |
| 39,188 | -29% |
Au oz 32,516 -31%
Ag oz 587,947 -17%
AuEq oz 39,188 -29%
| 32,884 | -33% | Sales |
|---|---|---|
| 570,870 | -15% | |
| 39,416 | -31% |
Au oz 32,884 -33%
Ag oz 570,870 -15%
AuEq oz 39,416 -31%
| 3,321 | 39% | Realised Price |
|---|---|---|
| 37.69 | 32% |
Au $/oz 3,321 39%
Ag $/oz 37.69 32%
| 499 | -18% | Cost |
|---|---|---|
| 1,244 | 9% |
C1 Cash Costs (produced) $/oz 499 -18%
AISC (sold) $/oz 1,244 9%
Safety And Sustainability
Safety culture continued to strengthen in 2025. The Company finished the year with an LTIF of 0.66. This inclu
time incident sustained by a contract employee for a total of 1.6 M man-hours worked. Efforts remain focused
contractor workplace safety as the construction workforce peaks in H1 2026.
Progress continued to position ACG for superior ESG performance. The inaugural annual
Sustainability Report nears completion and will be published with the annual report in April. The Company al
completing a comprehensive compliance review in Q1 2026, including updating existing and introducing
compliance policies, consistent with its commitment to ensure the highest standards of corporate governance.
Oxide Operation
• FY2025 total ore mined was 351,723 tonnes, down 51% from 2024, reflecting natural sequencing of
production plan
• Average grades improved, with gold at 2.26 g/t (+4%) and silver at 75.4 g/t (+21%), supporting hig
delivery.
• Ore processed totalled 354,472 tonnes, a 56% decrease year-on-year, as oxide stockpiles were drawn d
sulphide expansion.
• Processing grades strengthened further, with gold at 2.56 g/t (+1%) and silver at 94.0 g/t (+31%).
• Operational efficiency throughout 2025 delivered a 25% reduction in C1 cash costs, decreasing from
AuEq to US$455/oz AuEq.
• FY2025 AISC remained broadly stable at US$1,133/oz AuEq, down 1% year-on-year, as higher price-lin
offset the benefits of lower operating costs during a period of stronger metal prices.
Gediktepe Sulphide Expansion Advancing at Pace
The Gediktepe Sulphide Expansion Project delivered significant progress in Q4 2025, achieving key con
equipment milestones while remaining firmly aligned with its development schedule.
• Primary crusher foundations completed, structural steel erected, and major components installed inclu
crusher, ROM feed bin and feeders.
• Ball and SAG mill foundations finalised, with structural steel erection for the mill building underway.
• Flotation and filter building foundations completed, and earthworks for the tailings storage facility p
schedule.
• All flotation tanks, scavenger cells and cleaner cells delivered to site, alongside 1,300 tonnes of structur
the planned 1,700 tonnes.
• SAG and ball mills completed and ready for factory testing by year-end 2025, with rubber lining
scheduled for January 2026.
As of 31 December 2025, the project remained firmly on schedule with engineering 68% complete, procu
construction 37%, concrete poured 86%, and 80% of long-lead items delivered. The Gediktepe Sulphid
Project remains on track for commercial production by the end of H1 2026.
Enriched Ore Treatment
ACG successfully delivered on its commitment to identify a method of unlocking potential value from enri
stockpiles at Gediktepe. The company completed a scoping study and basic engineering in 2025. Commissionin
gold and silver recovery is planned for Q4 2026. In 2028, Phase 2 will commence recovering copper and zinc
precious metals. The project is expected to unlock an additional c.57kt CuEq over 4 years.
Capital Structure Highlights
ACG's net debt as of December 31, 2025 was US$65 million and a cash balance of $144 million (includin
balance of $46 million, and $43 million sulphide cash balance).
Post 2025 year-end, the January 2026 coupon in respect of the US$200 million Nordic bonds issued by AC
Limited has been paid in full, and the group is in full compliance with its bond terms.
– ENDS –
Inside information
The information contained within this announcement is considered by the Company to constitute inside in
stipulated under the Market Abuse Regulation (EU) No.596/2014 (as it forms part of UK domestic law by
European Union (Withdrawal) Act 2018). On the publication of this announcement via a Regulatory Information
information is now considered to be in the public domain.
Forward looking statements
This announcement may contain certain "forward-looking information" and "forward-looking statements"
"forward-looking statements"). Forward-looking statements are identified by their use of terms and phr
"believe", "targets", "expects", "aim", "anticipate", "project", "would", "could", "envisage", "estimate", "int
"plan", "will" or the negative of those, variations or comparable expressions, including references to assu
forward-looking statements in this announcement are based on current expectations and are subject to known
risks and uncertainties that could cause actual results, performance and achievements to differ materially from
performance or achievements expressed or implied by such forward-looking statements. Factors that may cause
to differ materially from those expressed or implied by such forward looking statements. These forward-lookin
are based on numerous assumptions regarding the present and future business strategies of the Group and the en
which it is and will operate in the future. All subsequent oral or written forward-looking statements attributed to
or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above. E
looking statement speaks only as of the date of this announcement. Except as required by applicable law
requirement, the UK Listing Rules and the Disclosure Guidance and Transparency Rules, neither the Company
party intends to update or revise these forward-looking statements, whether as a result of new information, fut
otherwise.
The person responsible for the release of this information on behalf of the Company is Artem Volynets,
Executive Officer.
For further information please contact:
Palatine
Communications Advisor
Conal Walsh / James Gilheany/ Kelsey Traynor/ Joshua Wolff [email protected]
Berenberg
Research Analysts
Richard Hatch +44 (0) 20 3753 3070
Joint Broker
Jennifer Lee
+44 (0) 20 3207 7800
Canaccord
Research Analysts
Tim Huff +44 (0) 20 7523 8374
Joint Broker
James Asensio / Charlie Hammond
+ 44 (0) 20 7523 80
Stifel
Joint Broker
Ashton Clanfield / Varun Talwar
+44 (0) 20 7710 7600
Cantor Fitzgerald
Research Analysts
Puneet Singh +1 (416) 350-8153
About the Company
ACG Metals is a company with a vision to consolidate the copper industry through a series of roll-up
with best-in-class ESG and carbon footprint characteristics.
In September 2024, ACG successfully completed the acquisition of the Gediktepe Mine which is
transition to primary copper and zinc production from 2026 and will target annual steady-state coppe
production of 20-25 kt. Gediktepe sold 57koz of AuEq in 2024.
ACG's team has extensive M&A experience built through decades spent at blue-chip multinationals i
The team brings a significant network as well as a commitment to ESG principles and stron
governance.
LON: ACG | OTCQX: ACGAF | LON:ACGW | Xetra: ACG | Bond ISIN: NO00134145
For more information about ACG, please visit: www.acgmetals.com
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the
Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions
relating to the use and distribution of this information may apply. For further information, please contact
[email protected] or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage
with the information contained in this communication, and to share such analysis on an anonymised basis with
others as part of our commercial services. For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy Policy.
END
| UPDBLMBTMTIBBMF London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply. © 2026 London Stock Exchange plc. All rights reserved. |
|---|