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ACG Metals Ltd on Monday said fourth-quarter production exceeded its previous guidance and noted a key project remains on track to start production by the end of June. Shares in ACG Metals were up 3.1% to 1,315.00 pence each in London on Monday morning. The British Virgin Island-based company focused on acquiring and consolidating copper assets delivered 39,200 ounces of gold equivalent from its Gediktepe mine in Turkey, compared to guidance of 36,000 to 38,000 ounces. Operational efficiency and cost controls drove a 18% reduction in C1 cash costs to $499 per ounce of of gold equivalent. All-in-sustaining costs increased 9.2% to $1,244 per ounce from $1,139 yearonyear, driven by the increases in gold and silver prices, which resulted in higher royalty payments. Spot gold was on the rise again on Monday, amid further tariff threats by US President Donald Trump, priced above $4,665 an ounce. For 2026, ACG Metals is targetting copper-equivalent production of 20,000 to 22,000 tonnes, , including 17,500 ounces of gold equivalent of oxide production. AISC is expected to be $2.40 to $2.60 per pound of copper equivalent. ACG said the Gediktepe sulphide expansion project advanced significantly during the year and is on time and on budget for commercial production by the end of the first half of 2026, ‘transitioning ACG into a copper producer.’ The enriched ore treatment project at Gediktepe mine is targeting an additional around 57,000 tonnes of copper equivalent from enriched ore and stockpiles on site over a four-year period. In the fourth quarter, the company completed a scoping study and basic engineering. Permitting, metallurgical test works, and detailed engineering will commence in the first quarter of 2026. Chair and Chief Executive Artem Volynets said: ‘We are making a great progress on our strategy to establish ACG Metals as a leading growth copper company on the [London Stock Exchange].’ Copyright 2026 Alliance News Ltd. All Rights Reserved.
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