TORONTO, Jan. 22, 2025 /PRNewswire/ - Allied Gold Corporation (TSX: AAUC) (OTCQX: AAUCF)
("Allied" or the "Company") herein provides its preliminary operating results for the fourth quarter ending December 31st, 2024.
Operational Highlights
Preliminary production results for the fourth quarter are provided in the table below:
| Mine |
Q1-Q3 2024 Total |
Q1-Q3 Average |
Q4 2024 |
| Sadiola (ounces) |
139,252 |
46,417 |
54,210 |
| CDI Complex (ounces) |
119,207 |
39,736 |
45,422 |
| Total Gold Production (ounces) |
258,459 |
86,153 |
99,632 |
Detailed disclosure on a by-mine basis will be provided with the fourth quarter financial results on March 26th, and 2025 guidance and outlook will be released on February 20, 2025. Conference call details are provided below.
Asset Highlights
Allied continued advancing its growth strategy in the fourth quarter, laying the groundwork for transformational production growth and enhanced cash flows. These efforts include operational and administrative improvements, execution of the Company's financial strategy, and the advancement of the construction activities at the Kurmuk project and the Sadiola Phase 1 expansion.
Sadiola
For the three months ending December 31, 2024, Sadiola produced 54,210 ounces of gold, surpassing the average of 46,417 ounces produced during the preceding three quarters. Production in the fourth quarter included a significant contribution from the higher-grade Korali zone, demonstrating the significant production upside that high-grade oxides can provide to Sadiola.
The Company is actively evaluating the future contribution of Korali-Sud and other new sources of oxide ore identified within the Sadiola mining license, and it expects to provide an update on this upside in due course.
As of December 31, 48,000 ounces of gold produced from Korali oxide ore were in inventory at Sadiola and sold subsequent to year-end. Including those ounces, pro-forma Sadiola sales for the quarter were in excess of 62,000 ounces.
Due to the timing of the sales of the Korali inventory, a working capital deficit will have been recorded as of year-end for accounting purposes.
Côte d'Ivoire Complex
Production from the CDI Complex was 45,422 ounces of gold during the three months ended December 31, 2024, compared to 39,736 ounces produced on average over the previous three quarters. At Bonikro, production of 20,259 ounces was in line with the plan, as higher grades were realized during the quarter due to the mine's sequencing.
Kurmuk
At Kurmuk, earthworks at the plant terrace advanced during the quarter to near completion, while civil works and SMPP (structural, mechanical, plate, and piping) contractor mobilizations are in progress.
Upcoming Events
Allied will release its 2025 guidance and outlook before the market opens on Thursday, February 20, 2025, Eastern Standard Time ("EST") and will convene a conference call and webcast to discuss them at 9:00 a.m. EST on the same day.
2025 Guidance and Outlook Conference Call
Toll-free dial-in number (Canada/US): 1-800-806-5484
Local dial-in number: 416-340-2217
Toll Free (UK): 00-80042228835
Participant passcode: 7392048#
Webcast: alliedgold.com/investors/presentations
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.
