ACG Metals (ACG) Investor presentation summary

Corporate overview and leadership

• 23.1 million shares outstanding, market cap of $585m, and net debt of $140m as of July 2026.

• Key shareholders include Lidya Madencilik (31%), Argentem Creek (30%), and Glencore (5%).

• Board and management feature extensive mining, finance, and M&A experience, including former US Secretary of State Michael Pompeo.

• Leadership has executed over $30B in deals and managed major mining operations globally.

Gediktepe mine operations and expansion

• 100% owned open-pit mine in western Türkiye with full infrastructure and access to three ports.

• Life of mine is 11 years, with average annual production of 20–25 kt CuEq.

• H1 2026 oxide production exceeded guidance, with 18.5 koz AuEq produced and higher recoveries from patented technology.

• Sulphide expansion project is 87% complete as of June 2026, fully permitted and financed with a $146m EPC contract.

• Significant resource upside potential exists outside the current pit shell, with ongoing exploration.

Financial performance and capital structure

• FY 2025 adjusted EBITDA was $76m, with $65m in operating cash flow.

• $200m bond issued, trading at a premium to par, with net debt at $140m as of June 2026.

• Bonds offer a 23% IRR and 1.3x MOIC since issuance.

• Share price at £19, with consensus target of £22.50 and NAV/share of £38.