Allied Gold Corp
TSX:AAUC
Allied Gold Corp
Allied Gold Corp is a CA-based company operating in Metals & Mining industry. The company is headquartered in Toronto, Ontario. The company went IPO on 2023-09-11. Allied Gold Corporation is a Canada-based senior gold producer. The firm has a portfolio of three operating gold mines, a gold development project and exploration properties throughout Africa, principally in Mali, Cote d’Ivoire and Ethiopia. Its properties include Sadiola gold mine, Kurmuk Project, Bonikro Mine, Agbaou Mine and El Fawakheir Property. The Sadiola Mine is an operating open pit gold mine located 77 km south of the regional city of Kayes. The Kurmuk Project is located in western Ethiopia, approximately 750 km west-northwest of the capital city of Addis Ababa. The Bonikro Mine is an operating gold mine located 100 km by road south of the capital city of Cote d’Ivoire, Yamoussoukro, in the Goh-Djiboua District of Cote d’Ivoire in West Africa. Agbaou Mine is located 100 km by road south of the capital Yamoussoukro, in the Goh-Djiboua District of Cote d'Ivoire in West Africa. El Fawakheir Property is located in the Central Eastern Desert of Egypt, 500 km southeast of Cairo.
Solid Q2 Production: Allied Gold produced 91,017 ounces of gold in Q2, in line with plan and supporting full-year guidance.
Cost Pressures and Outlook: Q2 all-in sustaining cost (AISC) was high at $2,343 per ounce, impacted by strategic decisions and elevated gold prices, but management expects AISC to drop to $1,850 per ounce in the second half as grades improve and waste removal supports higher production.
Production Weighted to H2: The company reiterated guidance for 55% of annual production and lower costs to be delivered in the second half, with Q4 expected to be especially strong.
Kurmuk and Sadiola Expansion: Kurmuk project and Sadiola Phase 1 expansion remain on schedule, with Kurmuk commissioning expected in April 2026 and Sadiola's incremental expansion strategy under review to limit capital needs.
Strong Balance Sheet: Company ended Q2 with $219 million in cash, an undrawn $50 million facility, and no plans to sell a stake in Sadiola, citing strong cash flow due to high gold prices.
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