ACG Acquisition Co. Ltd.

ACG Acquisition said its updated technical report for the Gediktepe mining operation in Türkiye raised the project's estimated net present value to $1.2 billion at consensus commodity prices and $1.4 billion at spot prices, with estimated net asset value per share of about £34 and approximately £43 respectively. The company raised its expected average production over the next five years to more than 36,000 metric tons of copper equivalent annually, up from an original plan of roughly 20,000 metric tons, and now expects average annual revenue of about $450 million over that period versus roughly $130 million in recent years. ACG acquired Gediktepe for $120 million in September 2024 and is investing a further $200 million in the asset, of which $146 million has been invested, including a flotation plant, while about $60 million is being allocated to a SART plant scheduled to begin production in the third quarter of 2027. For the first half of 2026, ACG reported $90 million in revenue, about $50 million in EBITDA and $30 million in cash flow, and management is targeting a lower-cost refinancing of its $200 million Nordic bond, which began with a 14.7% coupon, possibly at the January call date or earlier. The company also announced an agreement to acquire a license about 70 kilometers from Gediktepe for just under $8 million, payable in two tranches, which could extend heap-leach production by six to seven years.

ACG Acquisition is nearing a major operational shift at its Gediktepe mine in western Turkey, with the new flotation plant for copper and zinc concentrate now in commissioning and first production targeted by the end of August. Management said the company's 2026 guidance is 20,000 to 22,000 tonnes of copper equivalent, while the mine's oxide output has already exceeded full-year guidance in the first half due to better recoveries and improved processing technology. Looking ahead, ACG sees the sulfide plant and future copper-zinc output as key to improving liquidity, debt metrics and refinancing options, with management also signaling potential dividends once restrictive bonds are refinanced.

ACG Metals beat its full-year oxide production target in just six months, helped by a 64% jump in its realised gold price to $4,838 an ounce. First copper and zinc concentrate production is now expected in August. Rockfire Resources returned strong zinc and silver grades at its Molaoi project in Greece, with preliminary readings showing zinc values as high as 37.7%, and is fast-tracking feasibility studies and permit applications to reopen underground workings. Sunda Energy applied for a permit to explore an offshore area of New Zealand's Taranaki Basin covering around 645 square kilometres, triggering a three-month window for competing bids. CelLBxHealth remains on track for revenues of at least £2.1 million this year, up 50% on 2025, while searching for a new chief executive with no impact on trading expected. Poolbeg Pharma raised £3.5 million through a placing to fund two clinical trials and strengthen partnering discussions, extending its cash runway into the second quarter of 2028.