Workflow
ALLIED GOLD ANNOUNCES FIRST QUARTER 2025 RESULTS: ACHIEVING STRONG QUARTERLY PRODUCTION, ADVANCING OPTIMIZATIONS AND GROWTH PROJECTS
GOLDBarrick(GOLD) Prnewswire·2025-05-07 21:44

Core Insights - Allied Gold Corporation reported first quarter 2025 production of 84,040 gold ounces with total cost of sales, cash costs, and All-in Sustaining Costs (AISC) per ounce sold at 1,838,1,838, 1,656, and 1,811respectively,aligningwithmineplansandpositioningthecompanytomeetitsannualguidance[1][9][15]FinancialResultsHighlights−Firstquarternetearningswere1,811 respectively, aligning with mine plans and positioning the company to meet its annual guidance [1][9][15] Financial Results Highlights - First quarter net earnings were 15.1 million or 0.05pershare,withadjustedearningsof0.05 per share, with adjusted earnings of 45.1 million or 0.14pershare[9][54]−Revenueforthequarterwas0.14 per share [9][54] - Revenue for the quarter was 346.4 million, significantly up from 175.1millioninthesameperiodlastyear[54]−Thecompanygeneratednetcashfromoperatingactivitiesof175.1 million in the same period last year [54] - The company generated net cash from operating activities of 121.1 million, with EBITDA of 103.2millionandadjustedEBITDAof103.2 million and adjusted EBITDA of 133.8 million [9][54] Operational Highlights - The Sadiola mine produced 45,232 ounces, Bonikro produced 19,671 ounces, and Agbaou produced 19,137 ounces during the quarter [9][52] - The company is advancing the Kurmuk Project, with $56.2 million spent in the first quarter, and is on track to commence production by mid-2026 [4][50][51] - The first phase of expansion at Sadiola is progressing on schedule and budget, with expected production of 200,000 to 230,000 ounces per year post-expansion [6][26] Growth Initiatives - The company is pursuing a listing on the New York Stock Exchange (NYSE) to enhance financial flexibility and broaden its shareholder base, with an expected listing by mid-June 2025 [8] - A strategic partnership with Ambrosia Investment Holding is being developed to enhance power supply and support expansion plans at Sadiola [11][12] - The company is also exploring additional opportunities for optimization and expansion at Sadiola, including metallurgical test work to improve recoveries [27][28] Sustainability and Safety - The company reported no significant environmental incidents and a Total Recordable Injury Rate (TRIR) of 0.40 for the quarter, an improvement from 1.40 in the prior year [16] - Over one million man-hours were achieved without a Lost Time Injury, reflecting a commitment to safe operations [55]