Asante Gold reports US$345 Million loss amid lower production and rising costs

Gold producer and exploration company, Asante Gold Corporation, has reported a net loss of US$345.44 million for the eleven months ending December 2025, a significant increase from the US$62.18 million loss recorded the previous year.

According to the company’s financial statements, signed by Directors Alex Heath and David Anthony, revenue rose to US$482.59 million, driven primarily by higher gold prices.

Despite the revenue increase, the company sold less gold—143,138 ounces compared to 190,985 ounces in the previous year—dampening the benefit of higher prices.

The company’s loss per share also widened to US$0.55, reflecting weaker overall performance.

Gold production declined to 146,571 ounces, with both the Bibiani and Chirano mines impacted by lower-quality ore and operational challenges.

Costs rose sharply, with the all-in cost of producing gold increasing to US$3,902 per ounce from US$2,168. The jump was attributed to lower output, increased waste removal, and higher operational and equipment expenses.

During the period, Asante Gold raised substantial funds through loans, gold agreements, and equity to support operations and strengthen its financial position.

Looking ahead, the company plans to focus on boosting production and reducing costs to help return the business to profitability.