ACG METALS LIMITED: Q3 2025 YTD Operations and Capital Structure Update

Core Viewpoint - ACG Metals Limited is on track to meet its annual production and all-in sustaining cost (AISC) guidance for 2025, with significant progress in its operations and capital structure as of Q3 2025 YTD [1][3][5]. Q3 2025 YTD Operations Summary - Total ore mined decreased by 60% to 209,098 tons compared to Q3 YTD 2024 - Gold (Au) grade increased by 17% to 1.90 g/t, while silver (Ag) grade increased by 22% to 67 g/t - Total ore processed decreased by 68% to 184,250 tons, with Au grade at 2.17 g/t (up 8%) and Ag grade at 86 g/t (up 33%) - Gold production fell by 30% to 23,869 ounces, while silver production decreased by 1% to 490,995 ounces - Gold equivalent (AuEq) production was down 26% to 29,291 ounces [3][5]. Financial Performance - ACG's AISC costs YTD were US$1,131/oz AuEq, remaining within guidance, while C1 cash costs fell by 30% to US$432/oz AuEq compared to Q3 2024 YTD - Gold prices increased by 34% to US$3,054/oz and silver prices increased by 26% to US$34.19/oz, contributing to strong revenues - As of September 30, 2025, ACG's net debt was $64 million, supported by a cash balance of $137 million, including a restricted balance of $46 million [5][6]. Sulphide Expansion Project Progress - The Gediktepe Sulphide Expansion Project is on schedule and within budget, targeting full commercial production by the end of H1 2026 - Key milestones achieved include concrete pouring, steel installation, and significant site infrastructure developments - As of September 30, 2025, 58% of engineering design, 56% of procurement, and 27% of process plant construction were completed [4][8]. Warrant Amendments - On October 20, 2025, ACG amended the terms of its warrant instruments, changing the currency denomination from US Dollars to Pounds Sterling and adjusting the exercise price from US$6.90 to £5.34 - The right to redeem the warrants under certain conditions has been removed, with other consequential amendments made to the warrant terms [6][7]. Company Overview - ACG Metals aims to consolidate the copper industry through acquisitions, with a focus on ESG and carbon footprint characteristics - The company completed the acquisition of the Gediktepe Mine in September 2024, which is expected to transition to primary copper and zinc production from 2026, targeting annual steady-state copper equivalent production of 20-25 kt [12][13].