ACG Metals Sees 60% Production Uplift, Trades at Significant Discount
ACG Metals Limited (OTCQX:ACGAF) presented its transformation story to investors in September 2026, highlighting a $320 million investment in its Gediktepe-gold-silver project in western Turkey. The presentation demonstrated how this investment has generated a net present value of $1.2 billion at consensus prices and $1.4 billion at spot prices.
The company's shares closed at $1,875 on September 18, 2026, unchanged from the previous close, trading near the top of their 52-week range of $880 to $2,102.93. ACG trades at a significant discount to both its net asset value and London Stock Exchange copper peers.
The company invested $120 million in the initial acquisition and committed $200 million in development capital, bringing total investment to $320 million, equivalent to just 0.30 times the 2026 Competent Person's Report (CPR) NPV. This transformation has been achieved without incremental capital expenditure beyond the planned $200 million development budget.
The company reported robust financial results for the first half of 2026, demonstrating the asset's cash-generating capability even while still in ramp-up mode. Revenue reached $90 million with adjusted EBITDA of $48 million, representing a 53% margin.