Definitive feasibility study highlights robust returns for Asante Gold’s Bibiani Mine

Asante Gold Corporation has completed a Definitive Feasibility Study (DFS) for its Bibiani gold mine in Ghana, outlining plans to commence underground production by late 2025. The project is expected to produce 831,000 ounces of gold over seven years at an all-in-sustaining cost (AISC) of $1,035 per ounce.

The $116 million capital investment will be offset by revenues from 33,000 ounces of pre-completion production, yielding a post-tax net present value (NPV) of $516 million and an internal rate of return (IRR) of 71%.

CEO Dave Anthony described the DFS as a milestone, projecting annual production to exceed 250,000 ounces from 2026.

The underground reserves of 11.93 million tonnes at 2.36 grams per tonne will complement existing open-pit operations. Key upgrades, including a new sulfide plant and the Bibiani-Goaso Highway bypass, are set to boost efficiency and growth.

Contractor selection is expected by Q3 2025. Underground mining will be funded by open-pit revenues, solidifying Bibiani’s status as a vital asset in Ghana’s gold production landscape.