Allied Gold Announces Preliminary Q4 2025 Operating Results, 2026 Guidance and MRMR Update; Special Meeting Set for March 31
Zijin’s C$5.5 Billion Bet on Allied Gold Nears Completion as Mali Operations Stabilize
The most recent news (February 18, 2026) provides a trifecta of material developments: preliminary Q4 2025 operating results, 2026 guidance, and an update on the pending C$5.5 billion acquisition by Zijin Gold International. - Q4 2025 Performance: Production hit 117,004 ounces at an AISC of $1,980/oz. The company ended the year with a robust cash balance of $480 million. - 2026 Guidance: The company expects a massive production leap to 485,000–575,000 ounces, driven primarily by the expected mid-2026 start of the Kurmuk project in Ethiopia. - M&A Status: A special meeting for shareholders to approve the Zijin acquisition at C$44.00 per share (all-cash) is scheduled for March 31, 2026, with an expected closing in late April. - Resource Update: Mineral reserves were reported at 11.16 million ounces as of year-end 2025, confirming the long-life nature of the assets.
The impact is definitively a game-changer for shareholders, as it crystallizes a valuation that was unthinkable just 18 months prior. - Valuation Realization: The C$44.00 per share offer represents an exit at all-time highs. For context, the company was raising capital at C$5.35 (pre-consolidation) in early 2025 and C$27.35 in late 2025. - Operational De-risking: By completing the Sadiola Phase 1 expansion in December 2025, management proved it could deliver on technical milestones in Mali despite regional geopolitical noise. - Gold Price Leverage: The 2026 guidance assumes a gold price of $4,250/oz. While highly aggressive, this reflects the extreme bull market environment in which this transaction is closing, justifying Zijin's premium.
Allied Gold is a Canadian-domiciled gold producer focused on Africa. Its operations include the Sadiola mine (Mali), the Côte d’Ivoire Complex (Bonikro and Agbaou), and the flagship Kurmuk Project (Ethiopia). - Sadiola (Flagship): A massive system with 19 years of reserves. Phase 1 expansion (fresh ore processing) was completed in Q4 2025. - Kurmuk: Under construction with mid-2026 first gold target. Expected to produce ~240k–290k oz/year at AISC <$950/oz, making it the company's highest-margin asset.