ACG Metals (LSE:ACG) said first-half 2026 gold-equivalent production of 18,487 ounces already exceeded its full-year oxide target of 17,500 ounces.
The London-listed miner, which operates the Gediktepe project in Turkey, drew all of that output from stockpiled ore after completing oxide mining at the end of 2025.
Realised prices jumped over the period, with gold up 64% to $4,838 per ounce and silver up 142% to $78.2 per ounce compared with H1 2025.
All-in sustaining costs rose 52% to $1,609 per ounce, driven by higher royalties tied to elevated commodity prices and lower production volumes.
The Gediktepe Sulphide Expansion Project reached 87.2% completion on 30 June, with all equipment delivered to site and first copper and zinc concentrate production expected in August.
"Construction of the Gediktepe Sulphide Expansion Project also progressed on schedule and within budget," said Artem Volynets, ACG's chairman and chief executive.
Net financial debt stood at $140 million as of 30 June, against a cash balance of $60 million, of which $28 million is restricted.
The company reiterated full-year 2026 guidance of 20,000 to 22,000 tonnes copper-equivalent production at an all-in sustaining cost of $2.40 to $2.60 per pound, with both oxide and sulphide output expected in the second half.
