AngloGold Ashanti Files Technical Reports Detailing New 4.94 Moz Gold Reserve at Arthur Gold Project and Updated 4.02 Moz Reserve at Geita Gold Mine

summarizeSummary

AngloGold Ashanti filed detailed technical reports, announcing a new 4.94 Moz Probable Gold Reserve at its Arthur Gold Project (Merlin deposit) and an updated 4.02 Moz Gold Reserve at its operating Geita Gold Mine, though the Arthur Gold Project shows marginal economics with a low NPV relative to capital costs.

check_boxKey Events

• Arthur Gold Project (Merlin) Declares New Probable Gold Reserve

  The Merlin deposit at the Arthur Gold Project has advanced to a pre-feasibility study level, reporting a Probable Mineral Reserve of 87.64 million tonnes at 1.75 g/t gold, totaling 4.94 million ounces of gold, and 7.78 million ounces of silver.

• Geita Gold Mine Updates Mineral Reserve

  The operating Geita Gold Mine has updated its total Mineral Reserve to 75.69 million tonnes at 1.65 g/t gold, totaling 4.02 million ounces of gold, extending its life-of-mine to 2039.

• Arthur Gold Project Economics Show Low NPV

  The Arthur Gold Project (Merlin) has a Net Present Value (NPV) of $41 million (at a 5% discount rate) against a total life-of-mine capital cost of $4.424 billion, indicating marginal economic viability at the assumed gold price of $1,950/oz.

• Detailed Technical Reports Filed for Annual 20-F

  This 6-K provides the full Technical Report Summaries for the Arthur Gold Project, Geita Gold Mine, and Sukari Gold Mine, which are incorporated by reference into the company's annual report on Form 20-F for the financial year ended December 31, 2025.

auto_awesomeAnalysis

This 6-K filing provides the detailed Technical Report Summaries (TRS) for the Arthur Gold Project and Geita Gold Mine, which are incorporated by reference into the company's annual 20-F report. The Arthur Gold Project's Merlin deposit has advanced to a pre-feasibility study level, declaring a new Probable Mineral Reserve of 4.94 million ounces of gold. While this adds significant gold ounces to the company's portfolio, the project's low Net Present Value of $41 million relative to its substantial $4.4 billion life-of-mine capital cost indicates marginal economics. The Geita Gold Mine, an existing producing asset, has updated its Mineral Reserve to 4.02 million ounces of gold, extending its life-of-mine to 2039 with competitive all-in sustaining costs. The filing provides crucial underlying data for investors to assess the quality and viability of these projects, particularly the new Arthur Gold reserve.