Allied Gold reports solid performance in Q3

Allied Gold Corporation (produced 87,020 ounces of gold during the third quarter and sold 92,099 ounces of gold during the same period. Production and sales were in line with expectations and operating plans, which fully support strong fourth quarter production as previously guided.

All-in Sustaining Costs for the period were $2,092 per ounce of gold sold, showing a material improvement from the previous period. As previously disclosed, the significant planned increase in production in the fourth quarter, along with operational improvements and mine sequencing, is expected to drive further meaningful cost improvements.

Progress on growth projects during the quarter is aligned with plans, and supports the Company’s strategy for achieving significant production growth with reduced costs and increased margins.

Operational Highlights

• Production and Fourth Quarter Expectations: The Company produced 87,020 ounces of gold in the third quarter, in line with expectations and operating plans, which fully support strong production in the fourth quarter as previously guided. Gold production for the fourth quarter is expected to be the highest of the year, driven primarily by higher grades, leading to improved performances at Bonikro and Sadiola and by the completion of the Phase 1 expansion at Sadiola expected in December. Annual production is expected to be above 375,000 gold ounces which is in line with the Company’s guidance and consistent with Allied’s broader production outlook from its producing mines of 375,000 to 400,000 ounces of gold per annum. While formal guidance for 2026 is expected to be provided early in that year, the Company is targeting annual production from its existing operations at the high end of the outlook range with more consistent quarter-over-quarter performance. Further, results in the fourth quarter and thereafter are expected to benefit from the continued improvements the Company has made to its operations, and a series of operational enhancements and strategic initiatives aimed at delivering materially stronger operations. These include confirmatory drilling of high-grade areas, continued refinement of block models and grade-control processes, progressive mobilization of new mining equipment at Sadiola for material improvement of fleet availability and productivity, changes to mine management and hiring experienced local management including in Mali.At Bonikro and Agbaou, in Côte d’Ivoire, fourth quarter production will be driven mainly by the stripping completed earlier this year, which has allowed access to higher-grade areas. Fourth quarter production at Bonikro is expected to increase by up to 40% compared to the average of the preceding quarters.

  At Sadiola, in western Mali, operations are progressing normally and as planned. Operating, logistical and project development activities are progressing as usual, with inventories of consumables at normal levels. With fourth-quarter production expected to be up to 40% higher than the average of previous quarters, Sadiola is positioned to meet full-year guidance and is setting the foundation for stronger production next year. Production is expected to be driven by oxide ore feed from new zones discovered and developed in 2025, along with processing a higher proportion of higher-grade fresh ore following the completion of the Phase 1 expansion which continues to advance, in the fourth quarter.

• Gold Sales: Sales exceeded production in the quarter, totalling 92,099 gold ounces, as anticipated and previously guided, due to the sale early in the third quarter of inventory built up in the second quarter.