TORONTO, May 7, 2025 /PRNewswire/ - Allied Gold Corporation Reports First Quarter Production and Financial Results
Allied Gold Corporation (TSX: AAUC) (OTCQX: AAUCF) ("Allied" or the "Company") reports first quarter of 2025 production of 84,040 gold ounces at total cost of sales(4), cash costs(1) and All-in Sustaining Costs ("AISC")(1) per ounce sold of $1,838, $1,656, and $1,811, respectively. Production and costs were aligned with mine plans, positioning the Company to meet its guidance for the year. Sales of 131,520 gold ounces included 48,939 gold ounces of gold produced from Korali-Sud that were in inventory as at December 31, 2024, and were sold in the first quarter of 2025 as previously disclosed.
FIRST QUARTER HIGHLIGHTS
Financial Results Highlights
Operational Highlights
Advancement of Key Growth Initiatives
Financing and Strategic Initiatives Highlights
Allied successfully executed a number of strategic transactions and initiatives during and subsequent to the first quarter, creating a fortress balance sheet, further improving the Company's financial flexibility, enhancing trading liquidity and broadening the shareholder base. The transactions include:
Enhancing market liquidity remains a key objective for the Company. Over the past 18 months, average daily trading volume—measured over a 20-day period—has increased approximately ninefold. Each of the significant shareholder's block trade and the Company's offering are expected to further improve trading liquidity in advance of the Company's planned listing on the New York Stock Exchange.
The Company intends to use the net proceeds from the offering to fund its optimization and growth initiatives, including advancing studies and engineering work to improve recoveries at Sadiola, supporting exploration and mine life extension studies in Côte d'Ivoire, and conducting additional exploration and development activities across its broader asset portfolio. The proceeds of the offering are expected to assist the Company in accelerating value creation from these assets and activities.
Other Developments
The Company continues advancing discussions with SOREM (Mali state-owned mining company) to pursue potential mining opportunities in the vicinity of Sadiola and other highly prolific areas in Mali. While definitive arrangements have not been concluded at this time, the Company is encouraged by the prospects under evaluation and discussion and with the cooperativeness and ongoing engagement with in-country authorities.
Sustainability, Health and Safety Highlights
Summary of Operational Results
| For three months ended March 31, 2025 |
Gold ounces |
Production |
| Gold Production |
84,040 |
| Sales |
131,520 |
Total Cost of Sales: $1,838
Cash Costs: $1,656
AISC: $1,811
For three months ended March 31, 2025, Sadiola produced 45,232 ounces. Production in the first quarter continued to include a significant contribution from ore tonnes from the higher-grade Korali-Sud zone, demonstrating the production upside that high-grade oxides can provide to Sadiola.
Operational Summary
Overall, the mining operations continue to show promise, with steady production levels aimed at maximizing shareholder value through efficiency and strategic expansions. This commitment to operational excellence is supported by the planned growth initiatives and active exploration efforts at various sites.
FINANCIAL SUMMARY AND KEY STATISTICS
| Key Financials |
Three months ended March 31, 2025 |
| Revenue |
$346,407,000 |
| Net Earnings |
$39,937,000 |
About Allied Gold Corporation
Allied Gold is a Canadian-based gold producer with a significant growth profile and mineral endowment which operates a portfolio of three producing assets and development projects located in Côte d'Ivoire, Mali, and Ethiopia. Led by a team of mining executives with operational and development experience and proven success in creating value, Allied Gold aspires to become a mid-tier next generation gold producer in Africa and ultimately a leading senior global gold producer.
Source: Allied Gold Corporation
