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Asante Gold (TSXV: ASE) has completed the construction and commissioning of the sulphide plant at its Bibiani gold mine in Ghana as of Monday. This project is fueled by a $100 million deposit from its second-largest shareholder, Fujairah Holdings, part of a larger $500 million gold forward sale deal established in December 2024.
Operations to process Bibiani ore commenced on Saturday with a 12-hour shift and will increase to 24 hours a day by September 30. The company aims to enhance gold recovery from 60% to as high as 92% by the end of October, with the plant’s nameplate capacity set at 4 million tonnes per year.
Asante anticipates growing long-term gold production to between 450,000 and 500,000 ounces annually. The company’s market capitalization stands at C$1.75 billion ($1.26 billion), with shares rising 2.84% on the announcement.
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