Asante's Q3 2025 Results: Growth and Strategic Investments

Asante Gold Corporation (CSE:ASE | GSE:ASG | FRANKFURT:1A9 | U.S.OTC:ASGOF) has released its financial and operating results for the quarter ended October 31, 2024, showcasing significant growth and strategic investments. The company's revenue for the three months ended October 31, 2024, was $111 million, a 15% increase from $96 million in the same period in 2023. This growth is attributable to an increase in average gold price realized per ounce, partially offset by a decrease in ounces sold.

Asante's adjusted EBITDA for the three and nine months ended October 31, 2024, was $17,552 and $50,423, respectively, reflecting the positive impact of ongoing business improvement initiatives and higher gold prices. The company produced 45,273 gold equivalent ounces for the three months ended October 31, 2024, compared to 46,525 gold equivalent ounces in the same period in 2023. The decrease in gold production was primarily the result of lower feed grades and lower recovery at Bibiani.



Asante's operational strategies, such as the sulphide treatment plant project at Bibiani, have significantly contributed to their financial performance. The project, expected to increase gold recovery to 92%, is on track for commissioning in March 2025. This investment aligns with Asante's long-term growth strategy, aiming to unlock district-scale opportunities and justify accelerated stripping. The company's revenue for the nine months ended October 31, 2024, was $339 million, a 15% increase from $295 million in the same period in 2023. Adjusted EBITDA for the same period was $50,423, reflecting the positive impact of ongoing business improvement initiatives and higher gold prices.



Asante's non-dilutive finance initiatives have also played a crucial role in funding organic growth and unlocking district-scale opportunities. These initiatives have enabled the company to accelerate stripping at Bibiani and Chirano mines, with a corresponding increase in all-in-sustaining costs. This strategic move allows Asante to unlock the potential of the Bibiani-Goaso highway relocation and the Russell Starter Pit development, both of which are critical for further growth at Bibiani. Additionally, these initiatives have facilitated the execution of the sulphide treatment plant project at Bibiani, expected to increase gold recovery to 92% by March 2025. At Chirano, metallurgical and throughput projects are also starting to pay off, thanks to these finance initiatives.

In conclusion, Asante Gold Corporation's Q3 2025 results demonstrate the company's strong financial performance and strategic investments in growth opportunities. The company's operational strategies and non-dilutive finance initiatives have contributed to its success, positioning Asante for continued growth and sustainability in the gold mining sector.