ACG Metals to acquire Keşkek gold project

AI desk brief

ACG Metals has agreed to buy the Keşkek gold project licence in Türkiye for more than $7 million, with $4 million upfront and a further $3.85 million due in mid-2027 on first gold production. The asset sits about 70 km from ACG’s Gediktepe mine and is expected to feed additional oxide ore into the company’s existing heap-leach circuit, extending Gediktepe’s gold production life by several years.

Management says the added gold capacity could also help lift annual copper-equivalent output from 20,000 tonnes to 40,000 tonnes. CEO Artem Volynets said the project supports continued primary gold production alongside copper and zinc concentrate output, while the ore transport infrastructure between the two sites is already in place.

For the broader gold market, this is a company-level supply-positive development rather than a market-moving event. The main watchpoint is execution: first production timing, heap-leach recoveries, and whether the project meaningfully changes ACG’s production profile into 2027. Near term, the announcement is more relevant for ACG equity performance and mine-life extension than for XAU direction.