09:02 AM EDT, 06/09/2025 (MT Newswires) -- Asante Gold ( ASGOF ) reported over the weekend an increase in its comprehensive loss for the first quarter of fiscal 2026.

Asante booked a total comprehensive loss of US$20.0 million for the three months ended April 30, compared to a year-ago loss of US$16.0 million.

Revenue rose to US$142.0 million from US$114.3 million on the back of higher gold prices. Adjusted EBITDA jumped to US$30.7 million from US$13.0 million.

Gold equivalent production fell to 51,912 ounces from 53,379 ounces while gold sales dropped to 48,190 ounces from 53,600 ounces.

"We are pleased to report a significant ramp up in stripping operations during the first quarter, including the highest quarterly material movement at Bibiani (mine in Ghana) in more than two years," said Dave Anthony, Asante's president and CEO.

"Commissioning of the sulfide treatment plant will advance through July with full operations in August," Anthony added.

The company said its production and cost metrics aligned with its annual guidance as noted in its recent five-year outlook, which envisages growth to over 500,000 ounces per year by 2028 and free cash flow generation of over $2 billion through 2029.