Asante Gold Reports GHS3.7 Billion Loss in 2025

Asante Gold recorded a net loss of GHS3.7 billion for the eleven months ending December 31, 2025. This contrasts sharply with a GHS798 million loss in the previous financial year. The company's audited statements confirmed this on March 31, 2026. This loss equals GHS7.04 per share, up from GHS2.05 per share.

Revenue increased to GHS6.2 billion from GHS5.9 billion. This was due to a higher gold selling price of GHS43,260 per ounce, up from GHS30,860 per ounce. However, the company sold fewer ounces of gold, 143,138 ounces, down from 190,985 ounces.

Gold production fell to 146,571 ounces from 189,600 ounces. Production at the Bibiani Gold Mine dropped to 50,497 ounces from 60,760 ounces. The Chirano Gold Mine produced 96,074 ounces, down from 128,840 ounces. This was because of lower-grade ore and processing problems.

Costs went up significantly. All-in sustaining costs rose to GHS50,113 per ounce, compared to GHS27,819 per ounce last year. Bibiani's costs hit GHS77,419 per ounce. Chirano's costs were GHS36,929 per ounce. Higher stripping needs and processing of low-grade ore drove these cost increases.

The company completed a financing package to improve its financial position. This included a GHS1.9 billion senior debt and a GHS1.6 billion mezzanine facility. They also secured GHS641 million from gold stream agreements and GHS2.3 billion from new shares. Despite this, auditors raised concerns about the company's ability to continue operations. As of December 31, 2025, Asante Gold had GHS564 million in cash but a working capital shortage of GHS2.9 billion.

Asante Gold is now reviewing its operations to improve performance. The company has not given any production targets for 2026 yet. Also, Ghana's mining royalty rate changed to a sliding scale between 5% and 12%, depending on gold prices. The Growth and Sustainability Levy also changed, impacting company costs.