Allied Gold Reports Q2 2026 Results, Nears Kurmuk Start-Up and Strengthens Financial Position

Allied Gold Corporation (AAUC) reported second-quarter 2026 gold production of 97,429 oz, a 7% increase year-over-year, bringing first-half output to 193,445 oz. These figures align with the company’s plan and annual guidance for its producing mines. Consolidated all-in sustaining costs (AISC) came in at $2,192 per ounce sold, also in line with expectations, though a higher gold price impact from increased royalties added approximately $20 per ounce.

Financially, the company posted net earnings of $37.2 million, or $0.29 per share, while adjusted earnings reached $55.4 million, or $0.44 per share. EBITDA stood at $165.0 million, and operating cash flow before tax and working capital changes resulted in a $133.0 million inflow. As of June 30, cash reserves totaled $192.2 million. Liquidity is set to strengthen following the closing of a $295 million private placement with Zijin Gold, which grants a 9.2% stake, expected by August 10.

Operational updates highlight the Kurmuk project, which remains on budget and schedule with operations slated to begin in August, followed by first gold production a few weeks later. At the Sadiola mine, processing improvements including a pre-leach thickener and automation systems are underway to enable more than 90% fresh ore processing by the first half of 2027. Reserve updates extended the Agbaou mine life to 2030 following a 60% reserve increase, while the Bonikro mine life now extends to 2036. The CDI Complex has set a target of producing at least 200,000 ounces per year for over a decade. Looking ahead, 2027 Kurmuk production is projected at 240,000 to 270,000 oz, with approximately 300,000 oz expected in 2028, as Sadiola phase-2 engineering continues to advance.

Allied Gold Corporation (AAUC) reported second-quarter results that aligned with internal plans and market expectations established by prior guidance reaffirmations. The company highlighted mine-life extensions at the Agbaou and Bonikro operations, which support the long-life profile of the CDI Complex. These extensions were previously outlined in the June 10 operational update.

The company also referenced a strategic investment from Zijin, announced on July 29, noting it serves as a near-term liquidity boost and reduces dilution risk associated with a large equity raise. Following the release, Allied Gold’s share price increased from $26.37 to $27.50. This movement followed a broader recovery from $24.00 on July 29, a level reached after the termination of a previous deal.

Allied Gold Corporation (AAUC) is a mid-tier gold producer with assets in Mali, Côte d’Ivoire, and Ethiopia. Its portfolio includes an 80% stake in the Sadiola mine in Mali, as well as 90% and 85% stakes in the Bonikro and Agbaou mines, respectively, in Côte d’Ivoire. The company also holds a development project in Ethiopia known as Kurmuk.

Sadiola and the Côte d’Ivoire Complex provide a base production of approximately 380,000 to 425,000 ounces of gold per year. The Kurmuk project is expected to add significant low-cost ounces starting in 2026. Allied Gold has set a strategic objective to reach approximately 800,000 ounces of annual production by 2029.