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Construction|Financial|Gold|PROJECT
Construction|Financial|Gold|PROJECT
construction|financial|gold|project

Allied Gold hits record fourth-quarter production

22nd January 2025

By: Creamer Media Reporter

     

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Canada-headquartered Allied Gold on Wednesday reported preliminary results for the December quarter, with gold production reaching 99 632 oz.

This is within the company’s previously issued guidance range of 98 000 oz to 102 000 oz for the quarter and stands the company in good stead to achieve its production guidance of 375 000 oz to 400 000 oz for the full year.

The December quarter saw Allied Gold achieve its highest quarterly production to date, marking a 16% increase compared with the average production across the three preceding quarters of 2024. This record output reflects the successful operational strategies implemented across its portfolio, including key contributions from the Sadiola mine, in Mali, and the Côte d'Ivoire Complex.

At Sadiola, gold production rose to 54 210 oz, largely driven by the Korali oxide ore, which delivered about 48 000 oz. The Korali deposit serves as a bridge to the completion of the first-phase expansion at Sadiola, which is expected to support production of 200 000 oz/y to 230 000 oz/y.

The Côte d'Ivoire Complex also delivered solid performance, producing a total of 45 422 oz of gold during the quarter. The Agbaou mine had a strong performance, with output of 25 163 oz.

On the cost front, Allied reported a decline in pro-forma all-in sustaining costs (AISC) compared with the previous quarter. The company estimates that AISC for the fourth quarter will not exceed $1 780/oz of gold sold.

Allied noted that its financial position remained robust, with year-end cash balances, including proceeds from Korali gold sales completed after the year-end, expected to exceed $340-million.

Meanwhile, the miner reported that its growth initiatives were progressing well, with the construction of the Kurmuk project, in Ethiopia, and the Phase 1 expansion at Sadiola remaining on schedule and within budget.

Edited by Creamer Media Reporter

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