AAUC▲
Allied Gold shareholders approve board and auditor as Kurmuk mine nears production
Allied Gold shareholders approved all matters at the annual general meeting, including the election of 10 directors and the appointment of KPMG LLP as auditor. CEO Peter Marrone said the company has a clearer view of its business prospects and intends to continue advancing its plans while improving stakeholder communication and shareholder value. The Kurmuk Mine is expected to enter production soon, which Marrone described as a potentially transformative milestone supporting Allied Gold's position as a mature mid-tier gold producer.
MarketBeat·19dRead more ▾
Critical Materials & Supply Chain▼
Allied Gold reports Q2 Non-GAAP EPS of $0.44 and revenue of $366.2M, missing estimates by $57.8M
Allied Gold reported second-quarter Non-GAAP earnings per share of $0.44 and revenue of $366.2 million, a 45.3% increase year-over-year but missing analyst estimates by $57.8 million. Net cash used in operating activities was $67.4 million, while operating cash flows before income tax paid and movements in working capital were a strong inflow of $133.0 million. EBITDA and Adjusted EBITDA for the three months ended June 30, 2026, were $165.0 million and $166.9 million, respectively.
Seeking Alpha·21dRead more ▾
Allied Gold says Zijin Gold terminates takeover but secures $295 million investment
Allied Gold announced that its planned C$5.5 billion sale to China's Zijin Gold has been terminated after the companies concluded there was no reasonable likelihood of satisfying closing conditions by the July 29 deadline. Instead, Zijin Gold will make a strategic investment of approximately $295 million in Allied Gold, agreeing to purchase 12.8 million common shares at C$32.55 each, representing a 10% premium to the last closing price. The original deal, announced in January, had Zijin agreeing to acquire Allied for C$44 per share. Separately, Allied Gold reported preliminary second-quarter gold production of 97,429 ounces, bringing half-year production to 193,445 ounces.
Seeking Alpha·28dRead more ▾
AAUC▲
Allied Gold Reports Preliminary Q2 2026 Output of 97,429 Ounces, Expects Kurmuk Mine Start in August
Allied Gold Corporation announced preliminary second-quarter 2026 production of 97,429 gold ounces, bringing first-half output to 193,445 ounces and positioning the company to meet its full-year guidance of 385,000 to 425,000 ounces from producing mines. All-in sustaining costs for the quarter are expected to be below $2,200 per ounce sold, while the realized gold price for spot sales was approximately $4,380 per ounce, supporting strong margins. Cash balances at quarter-end were estimated at $190 million, with the decline from the prior quarter mainly due to growth capital spending on the Kurmuk Mine, which is on track to start operations in August with first gold a few weeks later. The company also reported a more than 60% increase in proven and probable mineral reserves at Agbaou, extending its mine life to 2030, and reiterated that security matters in its host nations are being effectively managed without disruption to operations. Allied Gold will release full second-quarter financial results on August 5, 2026.
GlobeNewswire·29dRead more ▾
Critical Materials & Supply Chain▲
Ethiopia clears Zijin Mining's $4 billion acquisition of Allied Gold
Ethiopian regulators have approved Zijin Mining's $4 billion acquisition of Allied Gold, according to a Capital Ethiopia report citing unidentified sources. With this approval secured, the parties are expected to close the deal before the extended deadline of July 29. The transaction, valued at approximately C$5.5 billion or C$44 per share in cash, was agreed in January but faced delays partly due to opposition from China's National Development and Reform Commission, which questioned the premium and risks tied to Allied's gold mine in Mali. Allied Gold's ADRs edged 1% higher following the report.
Seeking Alpha·43dRead more ▾