#Canada #Toronto #Allied Gold #Kurmuk Project #Sadiola Mine

Allied Gold Reports Strong First Quarter 2025 Results

Allied Gold Corporation, a leading player in the gold mining sector, has announced notable results for the first quarter of 2025. During this period, the company achieved a production total of 84,040 gold ounces, demonstrating a resolute adherence to its operational objectives and growth strategies.

Production and Cost Overview

In Q1 2025, Allied Gold not only met its production expectations but also ensured that its costs remained within budgetary limits. The reported total cost of sales was $1,838 per ounce, with cash costs at $1,656. Additionally, the All-in Sustaining Cost (AISC) was reported at $1,811 per ounce. These results highlight the operational efficiency of the company’s mines, especially in light of the fluctuating nature of gold prices.

The company’s sales for the quarter included 131,520 ounces of gold, which featured a significant portion from the Korali-Sud mine. The fiscal performance included a net earning of $15.1 million, translating to $0.05 per share, with adjusted earnings reaching $45.1 million or $0.14 per share, displaying the company’s ongoing profitability and solid financial foundation.

Operational Highlights

The Sadiola Mine operations yielded 45,232 ounces, with strong contributions from the newly integrated Korali-Sud zone. This bodes well as Allied anticipates an expansion in production capabilities as they advance to the construction phase of the mine's site.

Bonikro and Agbaou mines also contributed positively with productions of 19,671 ounces and 19,137 ounces, respectively. Enhanced throughput at both the Bonikro and Agbaou mines underscores Allied’s focus on operational improvements, which align with its aggressive growth strategy.

Growth Initiatives in Progress

Allied Gold is set on an ambitious path with several growth initiatives underway. The Kurmuk Project is on track for a mid-2026 production launch, having recently achieved key milestones during the quarter. Earthworks are near completion and significant equipment transportation has commenced to ensure smooth development processes.

The ongoing Sadiola Mine phased expansion is progressing according to schedule and budget. Currently, earthworks and critical fill activities are part of the plan, aiming for production continuity and enhanced recovery metrics.

Financial Strength and Strategic Partnerships

As of March 31, 2025, Allied Gold's cash and equivalents stood at a robust $232.3 million, bolstered further by the recent successful completion of a public offering, securing gross proceeds of approximately $66.8 million. These funds are earmarked for strategic growth and optimization initiatives, which are anticipated to enhance the company's operational capacity.

In a proactive move, Allied Gold is planning to list on the New York Stock Exchange (NYSE) under the ticker “AAUC” by mid-June 2025. This strategic move is expected to broaden the company’s investor base and improve trading liquidity.

Notably, Allied Gold has entered into a strategic partnership with Ambrosia Investment Holding, aimed at enhancing operational leverage at the Sadiola mine, including power supply agreements that align with local governmental initiatives.

Sustainability and Safety Commitment

Sustainability and safety remain at the forefront of Allied Gold's operations. During the first quarter of 2025, the company recorded no significant environmental incidents and reduced its Total Recordable Injury Rate (TRIR) to 0.40.

Looking Ahead

As the year progresses, Allied Gold aims to leverage its strong production base and financial footing to advance its growth initiatives. With significant investments in both exploration and production capabilities, Allied Gold is well-positioned to navigate the complexities of the mining sector while delivering value to its stakeholders and shareholders alike.

In summary, the first quarter of 2025 has proven to be a landmark period for Allied Gold, highlighting its operational excellence, strategic foresight, and commitment to shareholder value. As it moves forward with significant expansions and partnerships, the company's outlook remains positive for achieving its future objectives in gold production and sustainability.