Asante Gold (TSE:ASE) has released an update.
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Asante Gold Corporation reported a significant year-over-year revenue increase to $575 million in FY2024, up from $275 million, as full-year production ramped up at its mines, resulting in a 73% boost in gold production. Despite the increase in revenue and production, the company still faced a comprehensive loss of $130 million, though it was an improvement over the previous year’s $160 million loss. The fourth quarter of 2024 marked a positive turn with the company achieving its first positive adjusted EBITDA and comprehensive income, buoyed by increased gold prices.
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