Asante Gold Corporation has secured an additional month to resolve a US$100 million funding requirement and strengthen its liquidity position, after its senior lenders and hedge counterparties agreed to extend two key financing deadlines to September 30, 2026.
The extension, announced by the company in a financing update on August 24, gives Asante more time to negotiate new financing or changes to its existing financing arrangements as it seeks additional capital while limiting further dilution to existing shareholders.
Under waiver arrangements relating to its Senior Facilities Agreement, Asante had been required to secure at least US$100 million in new funding by August 31, 2026.
The company was also required to provide its senior lenders with a cost-to-complete certificate by August 20, setting out the funding it expects to need to complete its planned activities.
Both deadlines have now been moved to September 30.
The financing conditions were part of a waiver arrangement disclosed by Asante on May 19, 2026, relating to its existing Senior Facilities Agreement. Under that arrangement, the company was given flexibility around certain requirements under its financing agreements but, in return, was required to secure at least US$100 million in aggregate new funding by August 31, 2026.
The company later disclosed on August 17 that it was also required to provide its senior lenders with a cost-to-complete certificate by August 20. The certificate was intended to give the lenders an updated view of the costs required to complete the company’s planned activities and the funding needed to meet those costs. With both deadlines approaching, Asante has now secured an extension from its lenders and hedge counterparties, moving them to September 30.
The latest extension means Asante Gold has more time to work with its lenders on how to raise the additional capital without placing excessive pressure on existing shareholders.
The company said it is considering new financing and/or amendments to its existing financing, with the aim of finding a solution that limits the need to issue new shares.
Asante said the objective is to secure additional capital on terms that “aim to minimize further dilution to its shareholders.”
The company said it remains encouraged by the “constructive discussions and support” it has received from its financing partners and other key stakeholders.
The new September 30 deadline therefore gives Asante additional time to reach a financing agreement or secure the required funding, but the company’s funding position remains unresolved.
Asante Gold operates the Bibiani and Chirano gold mines in Ghana and is also advancing the Kubi Gold Project.
