Asante Gold Set to Ship Key Equipment for Bibiani Sulphide Recovery Plant

Asante Gold Corporation has announced that the principal long-lead equipment for the Sulphide Recovery Plant at the Bibiani Gold Mine is expected to be shipped by mid-August 2024.

The new facility is crucial for Asante's strategy to increase gold production at Bibiani to over 250,000 ounces annually, aiming for a cumulative production of 1.2 million ounces over the next five years. This plan, outlined in the 2024 Bibiani Technical Report, also projects lower all-in sustaining costs (AISC). The installation of the Sulphide Recovery Plant is anticipated to significantly enhance gold recovery from sulphide ore, increasing it from 70% to approximately 92%, which will positively impact profit margins.

The company has made significant progress on the Sulphide Recovery Plant, with 50% of the civil works completed. Fabrication of the long-lead equipment is finalized, and the items are being prepared for shipment to the Bibiani site, expected to arrive by mid-August 2024.

Upon completion of the Sulphide Recovery Plant, Asante anticipates producing around 20,000 ounces of gold per month at Bibiani, aligning with the company’s long-term production goals. Asante is committed to optimizing its operational mines and enhancing production efficiency.