Allied Gold Corp (AAUC) reports major commissioning milestones at its Kurmuk Mine in western Ethiopia. The 88‑kilometre 132‑kV power line to the national grid has been commissioned and energized, providing grid power under a 20‑year power purchase agreement at approximately US$0.04 per kilowatt-hour.
First ore has been fed through the crushing circuit, with handover from commissioning to operations underway and ore stockpiles of about one million tonnes already established, targeted to increase to nearly 1.5 million tonnes before full circuit commissioning. Kurmuk hosts 2.7 million ounces of Proven and Probable Mineral Reserves and is expected to produce 240,000–270,000 ounces of gold in its first full year, about 300,000 ounces in the second year, and average at least 240,000 ounces per year over an initial 15‑year strategic target mine life, with roughly 290,000 ounces per year expected over the first four years at what the company describes as industry‑leading costs.
Allied Gold Corp (AAUC) received an amended Schedule 13G/A reporting that Helikon Investments Limited and Federico Riggio together beneficially own 17,551,783 common shares, representing 12.60% of the outstanding common shares. This ownership is held through Helikon Long Short Equity Fund Master ICAV, managed by Helikon Investments Limited, a United Kingdom investment manager authorized and regulated by the Financial Conduct Authority. Based on 139,347,893 shares outstanding, the reporting persons have shared voting and shared dispositive power over all reported shares and no sole voting or dispositive power.
Allied Gold Corp (AAUC) has appointed Joanna Pearson as an independent director to its Board of Directors, effective immediately. Pearson brings over 25 years of international experience in financial reporting, risk management and strategic financial transformation in the mining sector, including serving as Chief Financial Officer of Endeavour Mining plc from 2021 to 2023 and 12 years as an Audit Partner with Deloitte LLP. To accommodate the appointment within existing board size limits, director Daniel Racine has stepped down from the Board and will continue in an emeritus role, providing ongoing support and advice. Allied Gold describes itself as a Canadian-based gold producer with three producing assets and development projects across Côte d'Ivoire, Mali and Ethiopia, aiming to transition its Kurmuk Mine from development to production and advance toward becoming a mid-tier, next-generation gold producer in Africa.
Allied Gold Corp (symbol AAUC) reports an auditor transition under Canadian securities rules. The company issued a Notice of Change of Auditor dated August 14, 2026, prepared pursuant to section 4.11 of National Instrument 51-102 – Continuous Disclosure Obligations, and circulated it to provincial and territorial securities regulators across Canada.
The notice involves KPMG LLP, the former auditor, and Deloitte LLP, the incoming auditor. KPMG states it has read the company’s notice and agrees with its statements, except that it cannot confirm Deloitte’s appointment or the internal approval process because it does not have access to those records. Deloitte confirms that, based on its knowledge, it agrees with the statement in the notice relating to its role and has no basis to agree or disagree with the other statements. The change is formalized within a Form 6-K filing as part of Allied Gold’s foreign private issuer reporting obligations.
Allied Gold Corporation completed a strategic equity investment by Zijin Gold International through a non-brokered private placement of 12,800,000 common shares at C$32.55 per share, generating C$416,640,000 in gross proceeds. The company plans to use the net proceeds to advance growth initiatives, including operational optimizations, completion and ramp-up of Kurmuk, phased expansion of Sadiola, production increases at the CDI Complex, and exploration across its portfolio.
Following the transaction, Zijin Gold holds approximately 9.2% of Allied’s issued and outstanding common shares and has participation and top-up rights to maintain its pro rata ownership until its stake falls below 5% on a non-diluted basis. The new shares are subject to a hold period ending December 11, 2026, and Allied’s Chairman and CEO and Vice Chairman have voluntarily agreed to lock-up their shares for the same period.
Allied Gold Corporation reported the results of its annual meeting of shareholders held on August 7, 2026. Shareholders elected ten directors, with support ranging from 56,575,146 votes for Jane Sadowsky (76.02%) to 72,637,173 votes for Peter Marrone (97.60%). John Beardsworth received 67,520,952 votes for (90.73%), while Oumar Toguyeni received 70,043,993 votes for (94.12%). Shareholders also approved the appointment of KPMG LLP as auditors with 70,657,367 votes for, representing 94.94% of votes cast. Allied Gold describes itself as a Canadian-based gold producer with three producing assets and development projects in Côte d'Ivoire, Mali, and Ethiopia, aiming to grow into a mid-tier and ultimately senior global gold producer.
Allied Gold Corporation reported results of its annual meeting of shareholders held on August 7, 2026. Shareholders voted on the election of ten directors, and each nominee’s election was marked as carried.
Support levels for individual directors ranged from 56,575,146 votes (76.02%) for Jane Sadowsky to 72,637,173 votes (97.60%) for Peter Marrone. Other nominees, including John Beardsworth, John Begeman, Pierre Chenard, Justin Dibb, Richard Graff, Daniel Racine, Dino Titaro and Oumar Toguyeni, also received strong majorities of votes cast. A separate matter received 70,657,367 votes (94.94%) in favor and 3,763,033 votes (5.06%) withheld, and was reported as carried as well.
Allied Gold reported solid second-quarter 2026 results, with production of 97,429 oz of gold, up from 91,017 oz a year earlier, and consolidated AISC of $2,192/oz, in line with plan. Revenue reached $366.3 million, generating net earnings attributable to shareholders of $37.2 million ($0.29 basic) and adjusted earnings of $55.4 million ($0.44 basic). EBITDA was $165.0 million and adjusted EBITDA $166.9 million.
Operating cash flow before taxes and working capital was a strong $133.0 million, but cash tax payments and expansionary spend led to net operating cash outflow of $67.4 million and reduced cash to $192.2 million at June 30. Existing mines produced 193,445 oz in the first half, supporting 2026 guidance of 385,000–425,000 oz, while the Kurmuk Mine remains on budget and schedule for August start-up with targeted 2027–2028 output of 240,000–300,000 oz annually. A terminated arrangement with Zijin Gold was replaced by a strategic private placement of approximately $295 million for about 12.8 million shares, giving Zijin an expected 9.2% stake and funding Kurmuk completion, Sadiola expansion and CDI Complex growth.
Allied Gold Corporation, an emerging multi-mine gold producer listed on the TSX and NYSE, reported much stronger results for the three months ended June 30, 2026. Revenue rose to $366,298 (in thousands of US dollars) from $251,979, lifting gross profit to $168,628 from $65,891. Net earnings were $49,875 (vs. a loss of $15,524), with earnings attributable to shareholders of $37,245, or basic EPS of $0.29 compared with a loss of $0.22. Cash-flow hedges contributed sizeable other comprehensive income, driving total comprehensive earnings for the quarter to $174,736 (in thousands).
At June 30, 2026, total assets were $2,201,343 (in thousands), including mineral property, plant and equipment of $1,491,394, reflecting heavy investment in the Kurmuk project. Total equity increased to $626,604, though retained earnings remained in deficit at $(301,887). Cash and cash equivalents fell to $192,206 from $479,777 at December 31, 2025 as operating activities used $10,069 and investing activities, mainly project capital, used $268,233 (in thousands for the six-month period).
The company uses streaming agreements, gold prepays and extensive hedging, including zero-cost collars and call options, resulting in a derivative liability of $55,559 and deferred revenue of $383,868 (in thousands). Subsequent to quarter-end, Allied and Zijin Gold mutually terminated their arrangement agreement, and Zijin Gold agreed to subscribe for approximately $295 million (C$417 million) of new shares in a private placement for an expected 9.2% stake, subject to customary closing conditions.
Allied Gold Corporation reports an update to its corporate governance policies centered on board gender diversity. After a transaction engaged in from the beginning of 2026 recently terminated, the company is resuming its review of board augmentation, refreshment and diversity.
Allied Gold commits to nominate no less than 20% women to its Board of Directors at the 2027 annual meeting of shareholders, which is expected before mid-year 2027, and no less than 30% women at the 2028 annual meeting.