AAUC · Allied Gold Corporation

Allied Gold delivered standout Q4 2025 results with record gold production of 117,004 ounces, a 34% sequential increase driven by higher grades and ore output at Sadiola (57,191 oz), Bonikro (33,279 oz), and Agbaou (26,534 oz), pushing full-year output to 379,081 ounces above guidance. AISC fell to $1,980/oz, down 5% from Q3 despite higher royalties, boosting margins to $2,160/oz on spot sales—58% and 185% above Q3 and Q2 levels. Financially, adjusted EBITDA hit $204.6M with operating cash inflows of $227.1M pre-tax/working capital, building cash to $479.8M. Despite a GAAP net loss of $23.6M, adjusted earnings of $69.0M underscored operational strength. Growth initiatives advanced: Sadiola Phase 1 grinding expansion completed, ramping in Q1 2026; Kurmuk on track for mid-2026 first gold with stockpiles building and power line nearing completion. Exploration drilled 40,503m in Q4, supporting resources. The transformative Zijin Gold deal, at C$44/share for C$5.5B equity value (27% premium to 30-day VWAP), secured shareholder approval on filing date, with regulatory processes underway for April close. This locks in premium value amid gold volatility, validating assets like tier-one Sadiola and growth from Kurmuk. 2026 guidance of 485k-575k oz reflects optimizations plus Kurmuk ramp, targeting midpoint with stable power.