Gold production and exploration firm, Asante Gold Corporation has recorded a net loss of US$345.44 million for the eleven months ending December 2025, much higher than the US$62.18 million loss the previous year.

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

However, the company sold less gold amounting to 143,138 ounces, down from 190,985 ounces, which reduced the impact of the higher prices.

Key revelations about Ghana's planned takeover of Damang Mine

Additionally, the company's loss per share also rose to US$0.55, showing weaker performance.

Gold production also fell, with total output dropping to 146,571 ounces. Both Bibiani and Chirano mines produced less gold due to lower-quality ore and some operational challenges.

At the same time, costs increased significantly as the cost of producing gold rose to US$3,902 per ounce, up from US$2,168, mainly because of lower production, more waste removal, and higher spending on operations and equipment.

During the period under review, the company raised significant funds through loans, gold agreements, and equity, to support its operations and improve its financial position.

Going forward, Asante Gold is expected to focus on increasing production and reducing costs to help return the business to profitability.

MA