ACG Metals Ltd (LSE:ACG, FRA:Y9C, OTC:ACGAF) said it exceeded production guidance in 2025 and remains on track to become a copper producer in the first half of this year, following strong operational performance at its Gediktepe mine in Turkey.
The company produced 39,200 ounces of gold equivalent last year, 3% above the top end of guidance, while cash costs fell sharply to $499 an ounce as tighter cost controls took effect.
Higher gold and silver prices pushed all-in sustaining costs up to $1,244 an ounce, reflecting increased royalty payments.
ACG said construction of the Gediktepe sulphide expansion is on time and on budget, with commercial production expected by the end of the first half of 2026.
The project will mark a shift away from gold towards copper, which is central to the group’s growth strategy.
For 2026, ACG guided to copper-equivalent production of 20,000 to 22,000 tonnes, supported by lower royalty rates on residual oxide production. Net debt stood at $65 million at the end of December.