ACG Metals Ltd (LSE:ACG, OTC:ACGAF) chairman and CEO Artem Volynets talked with Proactive's Stephen Gunnion about the company’s upgraded production guidance, operational performance, and strategic transition plans at Gediktepe.
The company has increased its full-year production forecast to an average of 36,000–38,000 ounces of gold equivalent, up from the previous guidance of 30,000–33,000 ounces. Volynets attributed this improvement to sustained increases in recoveries and disciplined cost management. “We have managed to reduce all-in sustaining cost by 13% versus the previous year,” Volynets said, highlighting the team’s focus on operational delivery and free cash flow generation.
The company’s Gediktepe project is also preparing for a transition from gold and silver production to copper and zinc concentrate, targeting 20,000 to 25,000 tonnes of copper equivalent. The new sulfide plant is on track to be commissioned in the first quarter of next year.
Volynets noted that ACG Metals Ltd has strengthened its balance sheet by repaying sponsor loans and making its first bond payments. With around $130 million of cash on the balance sheet and net debt of $60 million, the company is fully funded for completing the project.
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