News about Allied Gold

Allied Gold has begun wet commissioning at its Kurmuk Mine in Ethiopia and expects to introduce ore into the processing circuit this week, with first gold targeted soon after. The company targets 25,000–35,000 gold ounces over the November and December ramp-up period and expects to reach commercial production then, though both remain targets while testing continues. Ore stockpiles are approaching nearly three months of plant feed. For the first quarter of 2027, production is expected to rise monthly to 55,000–65,000 ounces, with 2027 guidance of 240,000–270,000 ounces and an outlook of around 300,000 ounces in 2028. Allied has also agreed with local artisanal miners to allow cooperative exploration in new prospective areas.

Allied Gold says its Kurmuk Mine in Ethiopia is nearing production startup. Water is flowing from the main storage dam into the processing plant for progressive wet commissioning, and the SAG and ball mill drives are energized. Ore feed is expected to enter the circuit this week, with first gold targeted soon after. Production is expected to rise through November and December to 25,000–35,000 gold ounces, with commercial production expected in this period, and Q1 2027 output is projected at 55,000–65,000 gold ounces. Guidance for 2027 remains 240,000–270,000 gold ounces, with about 300,000 ounces expected in 2028; Q3 2026 results are expected on November 4, 2026.

Allied Gold (AAUC) traded at $27.62 on October 23, 2026, up 13% over the past year, and carries a Superscore of 71 out of 100. Revenue grew 82% in fiscal 2025, record Q4 2025 production reached 117,004 ounces, and proven and probable reserves stood at 11 million ounces as of December 31, 2025. Zijin Gold agreed in January to buy the company for C$44 per share in cash, but the deal was terminated in July, after which Zijin invested roughly $295 million for a 9.2% stake. The Kurmuk mine in Ethiopia has connected to the power grid and crushed first ore in September, with guidance of 240,000 to 270,000 ounces in 2027 and roughly 300,000 in 2028. The article also flags geopolitical risks in Mali and Ethiopia and a $58 million net loss in Q1 2026.