Asante Gold (ASE) Q2 2026 earnings summary

Executive summary

• H1 2026 gold production reached 117,076 equivalent ounces, up 46.1% year-over-year, with Q2 2026 production at 57,274 ounces.

• Record H1 2026 revenue of $543.8 million, a 124.0% increase over H1 2025, driven by higher gold prices and increased sales volume.

• Adjusted EBITDA for H1 2026 was $160.1 million, up from $4.4 million in H1 2025.

• Strategic focus shifted to operational consistency, efficiency initiatives, and exploration growth.

• Leadership changes included a new Acting CEO and Chief Development Officer, with an interim CFO appointed after the quarter.

Financial highlights

• H1 2026 consolidated AISC was $4,070/oz, up 16.4% year-over-year; Q2 AISC was $4,281/oz.

• Average realized gold price for H1 2026 was $4,614/oz, up 52.8% year-over-year.

• Gross profit for H1 2026 was $75.8 million, compared to a loss of $40.8 million in H1 2025.

• Cash at June 30, 2026 was $57.8 million, with a working capital deficiency of $217.6 million.

• Cash from operations in H1 2026 was $126.2 million; investing activities used $155.2 million.

Outlook and guidance

• Full-year 2026 gold production guidance is 275,000–300,000 equivalent ounces at AISC of $3,200–$3,600/oz.

• H2 2026 expected to deliver higher production and lower costs, weighted to Q4, as Bibiani accesses higher-grade ore.

• Efficiency initiatives and deferred/cancelled capital projects (~$50 million) to support cost reduction.

• Exploration budget for 2026 is $23.4 million, with plans to expand in 2027.