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

AAUC
  • Allied Gold Corporation produced 97,429 ounces of gold in the second quarter of 2026, representing a 7% increase over the prior year.
  • Second quarter net earnings were $37.2 million ($0.29 per basic share), while adjusted earnings were $55.4 million ($0.44 per basic share).
  • All-in Sustaining Costs (AISC) for the quarter were $2,192 per ounce sold, in line with expectations.
  • The Company reported cash and cash equivalents of $192.2 million as of June 30, 2026.
  • A $295 million strategic investment agreement was finalized with Zijin Gold via a non-brokered private placement, expected to close on or before August 10, 2026.
  • Kurmuk Mine operations are scheduled to commence in August 2026, with first gold expected shortly thereafter.
  • Sadiola production totaled 48,080 ounces, aligned with the plan, with sequential increases expected due to higher grades.
  • Bonikro produced 31,471 ounces, significantly higher than the prior year due to mine sequencing and access to higher-grade ore.
  • Agbaou production reached 17,878 ounces, in line with the plan, with mine life extended to 2030.
  • First-half 2026 aggregate production was 193,445 ounces, positioning the Company to meet full-year guidance for producing mines.
  • The Company targets 240,000 to 270,000 gold ounces in 2027 and approximately 300,000 ounces in 2028 following Kurmuk ramp-up.
  • Operating cash flows before income tax and working capital movements were a strong inflow of $133.0 million for the quarter.
  • Net cash used in operating activities was $67.4 million, driven by $129.7 million in cash tax payments for the preceding year.
  • Capital expenditures included $158.9 million for expansionary projects, primarily the Kurmuk Mine development.
  • The Company reported two Lost Time Injuries, resulting in a Lost Time Injury Rate (LTIR) of 0.29 for the quarter.
  • No significant environmental incidents were reported for the three months ended June 30, 2026.