Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review
Asante Gold
On this page
Company details
- Legal name
- Asante Gold Corporation
- Listing
- ASG on the Ghana Stock Exchange, active (observed 2026-10-08)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 January
Overview
Year ended 31 January 2025 · audited financial statements, final status not established · source
Read with these figures
- Going-concern warning. The auditor's report for the year ended 31 January 2025 states a material uncertainty about whether the company can continue as a going concern.
- Audited financial statements not confirmed as final. The published copy is unsigned. The going-concern warning comes from it. The FY to 31 Jan 2025 figures come from it.
Full wording and sources
Auditor's report, year to 2025-01-31: material uncertainty related to going concern
Material uncertainty related to going concern: We draw attention to note 1 to the consolidated financial statements, which describes events or conditions that indicate the existence of a material uncertainty that may cast significant doubt about the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter. (PDF p2)
Source: Asante Gold Corporation Consolidated Financial Statements For the years ended January 31, 2025 and 2024, p2 (dated 2025-05-01)
Audited financial statements for 2025: final status not established
The independent auditor's report (opinion PDF p2; engagement partner Eric Talbot) closes with a typeset conformed signature '/s/PricewaterhouseCoopers LLP', Chartered Professional Accountants, Vancouver, British Columbia, dated May 1, 2025, with no visible signature (PDF p6, page image). The statement of financial position is 'Approved and authorized for issue on behalf of the Board of Directors' with typeset '/s/ "Alex Heath"' and '/s/ "David Anthony"', no visible signature and no date (PDF p7, page image); note 2(a) states approval and authorisation for issue on May 1, 2025 (PDF p12).
Source: Asante Gold Corporation Consolidated Financial Statements For the years ended January 31, 2025 and 2024 (dated 2025-05-01)
-
Revenue
USD 459 million
458,876 USD thousands · p8
+7.7% vs 2024
-
Operating profit / (loss)
−USD 52.1 million
(52,093) USD thousands · p8
Change not shown.
-
Profit / (loss) for the year
−USD 78.5 million
(78,509) USD thousands · p8
Change not shown.
-
Total assets
USD 721 million
721,113 USD thousands · p7
+5.5% vs 2024
-
Total equity
USD 34.8 million
34,844 USD thousands · p7
−18.1% vs 2024
-
Cash from operations
USD 159 million
158,555 USD thousands · p9
+193.7% vs 2024
Large amounts are rounded for reading (USD million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.
Not shown: the prior-year figure is zero or negative.
Financial statements
Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in USD thousands unless the row says otherwise; brackets are negative.
† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table
Column sources
- FY to 31 Jan 2025 — audited financial statements, final status not established; reported for the year · source
- FY to 31 Jan 2024 — audited financial statements, final status not established; comparative in the FY to 31 Jan 2025 filing · source
Income statement
| Line (as printed) | FY to 31 Jan 2025Audited financial statementsreported for the year | FY to 31 Jan 2024Audited financial statementscomparative in FY to 31 Jan 2025 filing |
|---|---|---|
| Revenue | 458,876 | 426,126 |
| Cost of sales | (472,194) | (531,962) |
| Gross loss | (13,318) | (105,836) |
| Management, consulting and professional fees1 | (27,141) | (14,990) |
| Selling, general and administrative2 | (11,634) | (16,492) |
| Operating loss | (52,093) | (137,318) |
| Finance charges | (22,596) | (22,821) |
| Gain on tax settlement, net3 | –4 | 5,883 |
| Loss on financial instruments and other expenses, net5 | (827) | (12,174) |
| Net loss before income tax | (75,516) | (166,430) |
| Income tax recovery (expense) | (2,993) | 63,229 |
| Net loss | (78,509) | (103,201) |
| Gain on translation to presentation currency | 13,022 | 565 |
| Total comprehensive loss | (65,487) | (102,636) |
| Non-controlling interest6 | (3,310) | (5,815) |
- Printed “-”, read as nil: subtotal_arithmetic: is.profit_before_tax.
Notes and alternative reported figures (5)
- “Management, consulting and professional fees” is an issuer-specific line, not mapped to a shared definition: Operating expense (note 23(b)).
- “Selling, general and administrative” is an issuer-specific line, not mapped to a shared definition: Operating expense (note 23(c)).
- “Gain on tax settlement, net” is an issuer-specific line, not mapped to a shared definition: Below operating loss (note 18).
- “Loss on financial instruments and other expenses, net” is an issuer-specific line, not mapped to a shared definition: Below operating loss (note 23(e)).
- “Non-controlling interest” is an issuer-specific line, not mapped to a shared definition: Net loss attributed to non-controlling interest.
Balance sheet
| Line (as printed) | FY to 31 Jan 2025Audited financial statementsreported for the year | FY to 31 Jan 2024Audited financial statementscomparative in FY to 31 Jan 2025 filing |
|---|---|---|
| Cash | 25,953 | 1,553 |
| Accounts receivable | 3,711 | 7,027 |
| Inventories | 79,717 | 53,805 |
| Current portion of prepaid expenses1 | 18,101 | 16,038 |
| Marketable securities | 1,430 | 2,429 |
| Current portion of contract asset | –2 | 500 |
| Current portion of restricted funds3 | –2 | 14,407 |
| Current assets (unlabelled subtotal) | 128,912 | 95,759 |
| Prepaid expenses4 | 16,831 | 5,544 |
| Contract asset | –5 | 375 |
| Loans receivable6 | 263 | 271 |
| Restricted funds7 | –5 | 7,216 |
| Reclamation bonds8 | 8,229 | 8,229 |
| Property, plant and equipment | 286,437 | 286,994 |
| Mineral properties9 | 258,648 | 258,870 |
| Exploration and evaluation assets10 | 21,793 | 20,208 |
| Total assets | 721,113 | 683,466 |
| Trade and other payables | 293,628 | 304,690 |
| Current portion of loans payable | 17,897 | 43,848 |
| Current portion of deferred payments11 | 138,863 | 137,094 |
| Current portion of rehabilitation provision | 215 | 248 |
| Deferred revenue12 | 108,056 | 21,428 |
| Other current liabilities13 | 20,435 | 13,211 |
| Current liabilities (unlabelled subtotal) | 579,094 | 520,519 |
| Loans payable | –14 | 5,773 |
| Deferred payments15 | –14 | –14 |
| Rehabilitation provision16 | 73,987 | 68,822 |
| Deferred tax liabilities | 33,188 | 45,824 |
| Total liabilities | 686,269 | 640,938 |
| Share capital | 282,920 | 230,753 |
| Reserve for share-based payments17 | 29,906 | 24,270 |
| Reserve for warrants18 | 5,381 | 5,381 |
| Accumulated other comprehensive income | 20,442 | 7,420 |
| Accumulated deficit | (320,935) | (245,736) |
| Equity attributable to shareholders of the Company | 17,714 | 22,088 |
| Non-controlling interest | 17,130 | 20,440 |
| Total shareholders' equity | 34,844 | 42,528 |
| Total liabilities and shareholders' equity | 721,113 | 683,466 |
- Printed “-”, read as nil: subtotal_arithmetic: bs.current_assets.
- Printed “-”, read as nil: subtotal_arithmetic: bs.total_assets.
- Printed “-”, read as nil: subtotal_arithmetic: bs.total_liabilities.
Notes and alternative reported figures (15)
- “Current portion of prepaid expenses” is an issuer-specific line, not mapped to a shared definition: Current assets (note 7).
- “Current portion of restricted funds” is an issuer-specific line, not mapped to a shared definition: Current assets (note 14(b)).
- “Prepaid expenses” is an issuer-specific line, not mapped to a shared definition: Non-current assets (note 7).
- “Loans receivable” is an issuer-specific line, not mapped to a shared definition: Non-current assets.
- “Restricted funds” is an issuer-specific line, not mapped to a shared definition: Non-current assets (note 14(b)).
- “Reclamation bonds” is an issuer-specific line, not mapped to a shared definition: Non-current assets (note 9).
- “Mineral properties” is an issuer-specific line, not mapped to a shared definition: Non-current assets (note 11).
- “Exploration and evaluation assets” is an issuer-specific line, not mapped to a shared definition: Non-current assets (note 12).
- “Current portion of deferred payments” is an issuer-specific line, not mapped to a shared definition: Current liabilities (note 15).
- “Deferred revenue”: mapping to a shared definition is uncertain. Printed 'Deferred revenue' (note 17): advance payments under a sales arrangement, presented as a current liability.
- “Other current liabilities” is an issuer-specific line, not mapped to a shared definition: Current liabilities (note 18).
- “Deferred payments” is an issuer-specific line, not mapped to a shared definition: Non-current liabilities (note 15).
- “Rehabilitation provision” is an issuer-specific line, not mapped to a shared definition: Non-current liabilities (note 16).
- “Reserve for share-based payments” is an issuer-specific line, not mapped to a shared definition: Equity reserve.
- “Reserve for warrants” is an issuer-specific line, not mapped to a shared definition: Equity reserve.
Cash flow
| Line (as printed) | FY to 31 Jan 2025Audited financial statementsreported for the year | FY to 31 Jan 2024Audited financial statementscomparative in FY to 31 Jan 2025 filing |
|---|---|---|
| Net loss1 | (78,509) | (103,201) |
| Depreciation and depletion2 | 105,218 | 121,213 |
| Inventory provision and write-down3 | 34,724 | 21,575 |
| Change in fair value of contingent consideration4 | 3,000 | 9,461 |
| Finance charges5 | 22,596 | 22,821 |
| Gain on settlements of liabilities6 | (9,089) | –7 |
| Gain on revaluation of loan payable8 | (7,744) | –7 |
| Gain on tax settlement, net9 | –7 | (5,883) |
| Unrealized foreign exchange loss10 | 12,469 | 2,231 |
| Share-based management and consulting fees11 | 6,331 | 2,746 |
| Loss on amendment of deferred payments12 | –7 | 3,346 |
| Loss on disposal of property, plant and equipment13 | 157 | –7 |
| Unrealized loss on marketable securities14 | 855 | 2,188 |
| Deferred income tax expense (recovery)15 | (12,636) | 45,824 |
| Accounts receivable16 | (6,584) | 3,476 |
| Inventories17 | (55,398) | (8,255) |
| Prepaid expenses18 | (2,063) | (5,792) |
| Contract asset19 | 875 | (875) |
| Trade and other payables20 | 24,245 | (28,318) |
| Deferred revenue21 | 120,108 | (28,572) |
| Cash provided by operating activities | 158,555 | 53,985 |
| Purchases of property, plant and equipment | (76,747) | (51,874) |
| Expenditures on mineral properties22 | (43,268) | (31,822) |
| Expenditures on exploration and evaluation assets23 | (1,537) | (868) |
| Repayment of deferred payments24 | (10,000) | (8,476) |
| Cash used in investing activities | (131,552) | (93,040) |
| Proceeds from private placement financing25 | 11,000 | 20,291 |
| Proceeds from options exercised26 | 561 | 324 |
| Proceeds from warrants exercised27 | –28 | 7,233 |
| Proceeds from loans payable | 9,800 | 63,075 |
| Repayment of loans payable | (44,614) | (52,509) |
| Restricted funds released29 | 19,295 | –28 |
| Cash (used in) provided by financing activities | (3,958) | 38,414 |
| Effect of foreign exchange on cash30 | 1,355 | 88 |
| Change in cash | 24,400 | (553) |
| Cash, beginning of year | 1,553 | 2,106 |
| Cash, end of year | 25,953 | 1,553 |
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_operations.
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (28)
- “Net loss” is an issuer-specific line, not mapped to a shared definition: Starting line of operating activities (indirect method).
- “Depreciation and depletion” is an issuer-specific line, not mapped to a shared definition: Operating activities adjustment.
- “Inventory provision and write-down” is an issuer-specific line, not mapped to a shared definition: Operating activities adjustment.
- “Change in fair value of contingent consideration” is an issuer-specific line, not mapped to a shared definition: Operating activities adjustment.
- “Finance charges” is an issuer-specific line, not mapped to a shared definition: Operating activities adjustment (add-back).
- “Gain on settlements of liabilities” is an issuer-specific line, not mapped to a shared definition: Operating activities adjustment.
- “Gain on revaluation of loan payable” is an issuer-specific line, not mapped to a shared definition: Operating activities adjustment.
- “Gain on tax settlement, net” is an issuer-specific line, not mapped to a shared definition: Operating activities adjustment.
- “Unrealized foreign exchange loss” is an issuer-specific line, not mapped to a shared definition: Operating activities adjustment.
- “Share-based management and consulting fees” is an issuer-specific line, not mapped to a shared definition: Operating activities adjustment.
- “Loss on amendment of deferred payments” is an issuer-specific line, not mapped to a shared definition: Operating activities adjustment.
- “Loss on disposal of property, plant and equipment” is an issuer-specific line, not mapped to a shared definition: Operating activities adjustment.
- “Unrealized loss on marketable securities” is an issuer-specific line, not mapped to a shared definition: Operating activities adjustment.
- “Deferred income tax expense (recovery)” is an issuer-specific line, not mapped to a shared definition: Operating activities adjustment.
- “Accounts receivable” is an issuer-specific line, not mapped to a shared definition: Change in non-cash working capital.
- “Inventories” is an issuer-specific line, not mapped to a shared definition: Change in non-cash working capital.
- “Prepaid expenses” is an issuer-specific line, not mapped to a shared definition: Change in non-cash working capital.
- “Contract asset” is an issuer-specific line, not mapped to a shared definition: Change in non-cash working capital.
- “Trade and other payables” is an issuer-specific line, not mapped to a shared definition: Change in non-cash working capital.
- “Deferred revenue” is an issuer-specific line, not mapped to a shared definition: Change in non-cash working capital.
- “Expenditures on mineral properties” is an issuer-specific line, not mapped to a shared definition: Investing activities.
- “Expenditures on exploration and evaluation assets” is an issuer-specific line, not mapped to a shared definition: Investing activities.
- “Repayment of deferred payments” is an issuer-specific line, not mapped to a shared definition: Investing activities.
- “Proceeds from private placement financing” is an issuer-specific line, not mapped to a shared definition: Financing activities: share issue.
- “Proceeds from options exercised” is an issuer-specific line, not mapped to a shared definition: Financing activities.
- “Proceeds from warrants exercised” is an issuer-specific line, not mapped to a shared definition: Financing activities.
- “Restricted funds released” is an issuer-specific line, not mapped to a shared definition: Financing activities.
- “Effect of foreign exchange on cash” is an issuer-specific line, not mapped to a shared definition: Effect of exchange rates on cash, printed above 'Change in cash' and included in it (p9); issuer-native so that it is not added a second time between 'Change in cash' and closing cash.
Segments
Segment data not yet collected for this company in the pilot.
Dividends
Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.
No dividend statement or amount collected.
Sources
Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.
-
Asante Gold Corporation Consolidated Financial Statements For the years ended January 31, 2025 and 2024
Year ended 31 January 2025 · Audited financial statements · final status not established
Audit: PricewaterhouseCoopers LLP, Chartered Professional Accountants, Vancouver, unmodified opinion · includes a material-uncertainty paragraph
Auditor's sign-off: PricewaterhouseCoopers LLP (conformed '/s/' signature; engagement partner Eric Talbot named)
Final status: The independent auditor's report (opinion PDF p2; engagement partner Eric Talbot) closes with a typeset conformed signature '/s/PricewaterhouseCoopers LLP', Chartered Professional Accountants, Vancouver, British Columbia, dated May 1, 2025, with no visible signature (PDF p6, page image). The statement of financial position is 'Approved and authorized for issue on behalf of the Board of Directors' with typeset '/s/ "Alex Heath"' and '/s/ "David Anthony"', no visible signature and no date (PDF p7, page image); note 2(a) states approval and authorisation for issue on May 1, 2025 (PDF p12).
- Document date
- 1 May 2025
- Published
- 5 May 2025
- Auditor's report
- 1 May 2025
- Board approval
- 1 May 2025
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY to 31 Jan 2025, FY to 31 Jan 2024
- Basis
- consolidated statements · USD thousands (printed “Expressed in thousands of United States dollars”)
- The auditor reports a material uncertainty related to going concern (note 1); the opinion is not modified (p2).
- Cost of sales and the two operating expense lines are printed as positive amounts deducted from revenue (p8); stored negative (sign 'negate'). Finance charges, the other non-operating lines and the income tax line are printed with their own signs and read as printed.
- Current assets and current liabilities are unlabelled subtotals; no non-current-asset or non-current-liability subtotal and no other-comprehensive-income total are printed (p7, p8). 'Change in cash' includes the effect of foreign exchange on cash (p9).
- The 2024 comparatives (and the February 1, 2023 statement of financial position) are printed '(Restated - Note 2 (d))': during the year the presentation currency changed from CAD to USD, applied retrospectively (note 2(d), p12-13). Every 2024 value is marked restated.
- Supplementary 'Cash paid during the year for: Income tax 398 (2024: -), Interest expense 2,233 (2024: 4,860)' (p9) is not transcribed.
Technical details
- File
- 49 pages, with a text layer
- SHA-256
02076e78f448e7a8f1b3787b865d5e2fc815b921382228ba83556fe3721f0028- Entity as printed
- Asante Gold Corporation and its subsidiaries (together, the Company)
- Exchange copy
- retrieved 2026-10-08T17:51:13Z
Data notes
No figure-level notes beyond those in the tables.
Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.
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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.