Asante Gold Corporation has reported a net loss of US$345.44 million for the eleven months ending December 31, 2025, a sharp increase from the US$62.18 million loss recorded the previous year.
Despite revenue rising to US$482.59 million due to higher gold prices, total gold sales and production declined, with output falling at both the Bibiani Gold Mine and Chirano Gold Mine.
The company also recorded a significant rise in operating costs, with all-in sustaining costs nearly doubling compared to the previous year.
Auditors, PricewaterhouseCoopers LLP, raised concerns about Asante’s ability to continue as a going concern, citing low cash reserves and a working capital deficit.
In response, the company has secured new financing, restructured debt obligations with Kinross Gold Corporation, and launched an operational review following recent management changes aimed at stabilising its performance.
Source: graphic.com.gh
