Exceeding Production Targets While Delivering Sulphide Project Milestones
LONDON, July 14, 2026 /PRNewswire/ -- ACG Metals Limited (LSE:ACG) is pleased to announce its operations update for the first half of 2026 ("H1 2026").
Artem Volynets (Chairman and CEO) and Patrick Henze (CFO) will provide a live presentation via Investor Meet Company on 21 July 2026, at 13:00 BST. To attend, investors can join via this link: https://www.investormeetcompany.com/acg-metals-limited/register-investor
H1 2026 Summary
Safety performance improved during H1 2026, with Project-to-Date LTIF improving to 2.9 per million man-hours despite elevated workforce levels and intensive construction activity associated with the Sulphide Expansion Project.
H1 2026 production of 18,487 oz AuEq exceeded the full-year oxide production target of 17,500 oz AuEq, with production sourced entirely from stockpiled ore following the completion of oxide mining activities at the end of 2025.
Realised gold and silver prices increased materially in H1 2026 compared to H1 2025, rising by 64% and 142% respectively, to US$4,838/oz gold and US$78.2/oz silver, supporting strong revenues.
H1 2026 AISC of US$1,609/oz was 52% higher than H1 2025, primarily due to higher royalties driven by elevated commodity prices and lower production volumes compared with H1 2025. Total oxide and sulphide production is expected to contribute a further approximately 2,500 oz AuEq by year end.
The Gediktepe Sulphide Expansion Project continued to progress on schedule and within budget during H1 2026, reaching 87.2% overall completion on 30 June 2026, with all equipment delivered to site and first production expected in August 2026. Several outstanding workstreams are nearing completion and are expected to drive a significant increase in the overall completion rate in the near term.
Net financial debt as of 30 June 2026 was US$140 million, supported by a cash balance of US$60 million, including US$28 million of restricted cash. The majority of project capex has now been incurred, including payment for substantially all major process equipment and key long-lead items.
Production guidance for FY2026 is reiterated at 20–22 kt CuEq and AISC of US$2.40–2.60/lb CuEq, including both oxide and sulphide production expected in H2 2026.
Artem Volynets, Chairman and CEO of ACG, said:
"H1 2026 was a strong period for ACG, reflecting solid operational performance. We exceeded our full-year oxide gold production target in the first six months of the year, demonstrating the strength of our operating team, and disciplined execution.