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Asante Gold Files Financial and Operating Results for the Quarter Ended April 30, 2024
VANCOUVER, British Columbia, June 17, 2024 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE:ASE | GSE:ASG | FRANKFURT:1A9 | U.S.OTC:ASGOF) (“Asante” or the “Com
About this update from Asante Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, June 17, 2024 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE:ASE | GSE:ASG | FRANKFURT:1A9 | U.S.OTC:ASGOF) (“Asante” or the “Company”) announces the filing of its financial statements and management’s discussion and analysis (“MD&A”) for the three months ended April 30, 2024 (“Q1 2025”). Dave Anthony, President and CEO stated: “We are pleased to report results of the first quarter of fiscal 2025, with increased gold production at lower all-in-sustaining-costs compared to the prior year period, along with the delivery of our second consecutive quarter of positive EBITDA. Subject to the achievement of our financing objectives, we are on track to deliver our plan to unlock the untapped district scale potential of Bibiani-Chirano, with annual production expected to grow to nearly 450,000 ounces of gold in fiscal 2026 and more than 500,000 ounces of gold by fiscal 2029, at lower costs and higher margins, as outlined in the recently updated technical reports for the Bibiani and Chirano mines. In addition, the recently announced rerouting of the Bibiani-Goaso highway and the advancement of the Sulphide Treatment Plant project are both important catalysts for the delivery of our growth plans and remain on track. During the three months ended April 30, 2024, the Company changed the presentation currency of its financial statements from Canadian dollars to United States dollars. The change in the financial statement presentation currency is considered an accounting policy change and has been accounted for retrospectively. As such, all dollar figures are in United States dollars unless otherwise indicated. A summary of the financial and operating results for fiscal Q1 2025 are presented in this news release. For a detailed discussion of results for the first quarter, please refer to the MD&A dated June 14, 2024, filed on SEDAR+ at www.sedarplus.ca and Asante’s website at www.asantegold.com. First Quarter 2025 Summary Financial Results ($000s USD) except as noted Q1 2025 Q1 2024 Financial Results Revenue 114,311 97,264 Net (loss) income1 (16,036) (46,629) Adjusted EBITDA2 13,026 (14,907) Total assets 704,538 737,053 Non-current liabilities 113,075 100,765 Operations Results Gold equivalent pr...