Asante Gold (ASE) Q1 2026 earnings summary

Executive summary

• Achieved record quarterly revenue of $300.4M and gross profit of $60.5M for Q1 2026, driven by higher gold production and prices.

• Group gold production reached 59,800 equivalent ounces at an AISC of $3,886/oz, with monthly output up over 50% year-over-year.

• Leadership changes included the appointment of Campbell Baird as Acting CEO and new advisors to support governance and capital initiatives.

• Strategic operational review underway at Bibiani and Chirano to enhance reliability and production growth.

Financial highlights

• Revenue increased 111.6% year-over-year to $300.4M, reflecting higher gold prices and volumes.

• Adjusted EBITDA rose to $102.2M from $30.7M year-over-year.

• Comprehensive loss narrowed to $10.9M from $20.0M year-over-year, despite higher production costs and finance charges.

• Cash on hand at quarter-end was $62.2M.

Outlook and guidance

• Ongoing operational review aims to deliver more consistent and higher production at Bibiani and Chirano.

• Near-term focus on tighter operational control, improved team integration, and high-impact initiatives for reliability and throughput.

• Market update on revised operating plan and medium-term parameters expected upon review completion.