Asante Gold (ASE) Q3 2024 earnings summary

Executive summary

• Achieved 15% year-over-year revenue growth in Q3 2025, driven by higher realized gold prices despite lower ounces sold.

• Adjusted EBITDA rose significantly to $17.6M in Q3 2025 from $2.0M in Q3 2024, reflecting operational improvements and gold price leverage.

• Advanced key projects at Bibiani and Chirano, including the Bibiani-Goaso highway relocation and sulphide treatment plant construction.

Financial highlights

• Q3 2025 revenue: $111M, up from $96M in Q3 2024; nine-month revenue: $339M, up from $295M year-over-year.

• Adjusted EBITDA: $17.6M in Q3 2025 vs $2.0M in Q3 2024; $50.4M for nine months vs negative $19.5M prior year.

• Total comprehensive loss: $15.5M in Q3 2025, improved from $28.3M loss in Q3 2024.

• Average gold price realized: $2,552/oz in Q3 2025, up from $1,859/oz in Q3 2024.

• All-in sustaining cost (AISC): $2,347/oz in Q3 2025, up from $1,859/oz in Q3 2024.

Outlook and guidance

• Bibiani FY2025 production guidance: 52,500–57,500 gold equivalent ounces.

• Chirano FY2025 production guidance: 130,000–140,000 gold equivalent ounces.

• Bibiani FY2026 production target: 175,000–205,000 ounces, contingent on financing and project completion.

• Chirano FY2026 production target: 155,000–175,000 ounces, subject to successful financing.