ACG to Acquire Keşkek Licence to Extend Gold Production

ACG Metals Limited has announced a binding agreement to acquire the Keşkek gold project from Meta Nikel Kobalt Madencilik Sanayi ve Ticaret A.Ş. for a total deal value of $7.85 million. The transaction, which was disclosed on September 7, 2026, includes an initial cash payment of $4 million, with the remaining $3.85 million contingent upon the project's progression towards production, anticipated to commence in mid-2027.

The Keşkek project, located approximately 70 kilometers from ACG's existing Gediktepe mine in Türkiye, encompasses a mining licence covering 666 hectares. This acquisition is strategically significant for ACG as it secures an additional source of oxide ore, which is essential for extending the operational life of its heap leach facility. The initial oxide feed is projected to come from the defined Keşkek pit, which contains an estimated 300,000 tonnes of ore grading 0.90 grams per tonne of gold, alongside a favorable waste-to-ore strip ratio of 1:1.

ACG's technical team has assessed the mineral resource potential of the Keşkek Licence, estimating it to contain approximately 1.5 million tonnes grading 0.65 grams per tonne of gold. Furthermore, there is exploration potential for an additional 5 to 10 million tonnes of mineralization grading between 0.7 and 1.0 grams per tonne, subject to further drilling activities. The acquisition of Keşkek not only enhances ACG's gold production profile but also allows the company to leverage its existing infrastructure and operational capabilities, thereby generating additional cash flow.

The acquisition aligns with broader trends in the mining sector, where companies are increasingly focused on optimizing resource utilization and extending the life of existing operations. By integrating the Keşkek project into its portfolio, ACG is positioned to enhance its gold production while maintaining operational efficiency. The planned commencement of mining and production in mid-2027 will coincide with the completion of residual leaching from current heap leach material, ensuring a seamless transition into new ore processing.

Overall, this transaction underscores ACG Metals' commitment to disciplined growth and strategic resource acquisition in the mining sector. As the company prepares to embark on this new phase of production, the successful integration of the Keşkek project is likely to have positive implications for its operational sustainability and financial performance in the coming years.