20 October 2026
ACG METALS LIMITED
Publication of 2026 Gediktepe Competent Person's Report
ACG Metals Limited (LSE: ACG)
ACG Metals Limited ("ACG" or the "Company") is pleased to announce the publication of the full updated Competent Person's Report for its Gediktepe mine (the "2026 CPR").
The publication follows the Company's announcement on 17 September 2026 of updated Mineral Resource and Ore Reserve estimates and a material increase in Gediktepe's production and value profile.
The 2026 CPR has been prepared by SRK Consulting (UK) Ltd. ("SRK") in accordance with the 2012 JORC Code. It has an effective date of 31 July 2026 and supersedes the previous Competent Person's Report dated 20 August 2024 (the "2024 CPR").
The full 2026 CPR is available on the Company's website at:
https://acgmetals.com/competent-person-report-2026
The 2026 CPR provides further detail on the Mineral Resource and Ore Reserve estimates, updated mine plan and operating assumptions set out in the Company's announcement on 17 September 2026.
Highlights
· The 2026 CPR reports a total asset post-tax NPV8 of approximately US$1.2 billion, compared with the project NPV10 of US$265m reported in the 2024 CPR.
· Gediktepe's average annual production is expected to increase by c.60% to c.36 kt CuEq between 2027 and 2031 compared with the original 20-25 kt CuEq target.
· Over the initial life of mine of 11 years, Gediktepe is expected to produce a total of 352kt CuEq.
· Total Ore Reserves tonnage increased by c.43% to 26.5 Mt in the 2026 CPR from 18.5 Mt in the 2024 CPR.
· The enriched ore treatment project is expected to add approximately 83kt CuEq to the life of mine production profile. Production is expected to come online in Q3 2027.
· Heap-leach gold production is expected to continue beyond end-2026, supported by ACG's patented recovery technology, together with re-leaching and heap turning.
· The 2026 CPR reflects Gediktepe's transition from oxide gold and silver production to copper and zinc concentrate production, the planned enriched ore treatment project and the extension of heap leach facility production.
Artem Volynets, Chairman and Chief Executive Officer of ACG, said:
"The publication of the full 2026 CPR provides investors with the detailed technical and economic analysis supporting the materially enhanced value and production profile.
The report reflects the transformation of Gediktepe into a larger, copper-led operation with three complementary processing streams and materially increased operational flexibility."
Competent Person Statement
The Mineral Resource Estimate was prepared by Dimitar Dimitrov, of Ridge Consultants Ltd., an independent Competent Person in accordance with the requirements of the JORC Code.
The Ore Reserve Estimate was prepared by Peter Carter, of ACG Metals, a Competent Person in accordance with the requirements of the JORC Code.
SRK has reviewed and approved the scientific and technical information relating to the Mineral Resource and Ore Reserve Estimates contained in this announcement.
Use of Standard
The Mineral Resource and Ore Reserve information included within this announcement is reported in accordance with the JORC Code (2012).
- ENDS -
Inside information
The information contained within this announcement is considered by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No.596/2014 (as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018). On the publication of this announcement via a Regulatory Information Service, such 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" (collectively, "forward-looking statements"). Forward-looking statements are identified by their use of terms and phrases such as "believe", "targets", "expects", "aim", "anticipate", "project", "would", "could", "envisage", "estimate", "intend", "may", "plan", "will" or the negative of those, variations or comparable expressions, including references to assumptions. The forward-looking statements in this announcement are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements. Factors that may cause actual results to differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based on numerous assumptions regarding the present and future business strategies of the Group and the environment in which it is and will operate in the future. All subsequent oral or written forward-looking statements attributed to the Company or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above. Each forward-looking statement speaks only as of the date of this announcement. Except as required by applicable law, regulatory requirement, the UK Listing Rules and the Disclosure Guidance and Transparency Rules, neither the Company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
The person responsible for the release of this information on behalf of the Company is Artem Volynets, Chief Executive Officer.
For further information please contact:
Thirty Three Communications
Communications Advisor
acgmetals-client-success@thirtythreecomms.com
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 /Rory Blundell / Charlie Hammond
+ 44 (0) 20 7523 4680
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 building a high-margin, copper-focused producer through safe, efficient and sustainable operations.
ACG acquired the Gediktepe Mine in September 2024 and produced first copper concentrate on 31 August 2026. The operation is now ramping up towards full commercial production by the end of 2026.
ACG's team has extensive M&A experience built through decades spent at blue-chip multinationals in the sector. The team brings a significant network as well as a commitment to ESG principles and strong corporate governance.
LON: ACG | OTCQX: ACGAF | LON:ACGW | Xetra: ACG | Bond ISIN: NO0013414565
For more information about ACG, please visit: www.acgmetals.com