In a recent interview with Proactive, ACG Metals Chairman and CEO Artem Volynets, alongside CFO Patrick Henze, reflected on the company’s transformational journey over the few months, and outlined an ambitious roadmap for the future.
Period of Strategic Execution
Since acquiring its first operating asset in September 2024, ACG Metals has quickly proven its ability to create value. The Gediktepe mine in Turkey generated an impressive $76 million in EBITDA last year, highlighting the success of ACG’s M&A capabilities. The company also raised $200 million through a bond issuance, providing strong financial footing and enabling it to retire 70% of its outstanding warrants, an important step in optimizing its capital structure.
Perhaps most notably, ACG has achieved remarkable cost reductions in a high-inflation environment. In Q1 2025, C1 costs dropped by 37% and all-in sustaining costs fell by 13%. These achievements are even more striking given the current macroeconomic conditions, and underscore the company’s operational discipline.
Strong Performance in Q1 2025
CFO Patrick Henze reported that Q1 2025 results significantly outperformed expectations, thanks in part to effective ore management and cost control at the Gediktepe mine. The site has now logged 724 days without a lost time incident, one of the best safety records in Turkey, and produced 16,000 ounces of gold equivalent in the first quarter alone.
When ACG presented its bond offering, it guided toward 32,000–33,000 ounces in total sales for 2025. With half that figure already achieved in Q1, the company is tracking well ahead of plan. Elevated gold prices in Q2 are expected to further boost revenues and margins.
Building for the Future
ACG is also on track with its Sulphide expansion project at Gediktepe, scheduled for commissioning in Q1 2026. Once operational, the project is expected to produce 25,000 tonnes of copper equivalent annually. The build is proceeding on time and on budget, thanks in part to an experienced team led by industry veteran Graham Ripley.
Artem Volynets emphasized that this expansion is just one piece of ACG’s broader strategy to become a global consolidator in the copper sector. With a 73% operating margin and significant cash on hand, ACG Metals is already generating strong free cash flow. In fact, Volynets noted that the company is currently trading at a valuation equivalent to just 14 months of its free cash flow, offering a compelling value proposition for investors.
With strong operational results, disciplined cost management, a robust project pipeline, and a bold vision for global expansion, ACG Metals is quickly establishing itself as a force in the global mining industry. The company is not just executing on its current assets, it is laying the groundwork for sustainable, long-term growth.