Allied Gold Achieves First Gold Pour at Kurmuk Mine in Ethiopia
Allied Gold Corp has achieved a significant milestone with the first gold pour at its Kurmuk Mine in Ethiopia. The company anticipates a ramp-up to commercial production by year-end 2026 and nameplate capacity by early 2027. Production forecasts indicate substantial increases for both the Kurmuk Mine and consolidated company output in 2026 and 2027. Allied Gold also plans to introduce a base dividend and a share buyback program starting in 2027, reflecting its expected increase in free cash flow.
Key Highlights
- Allied Gold Corp announced first gold pour at its Kurmuk Mine in Ethiopia.
- Kurmuk Mine is expected to reach commercial production by the end of 2026 and nameplate capacity by early 2027.
- Kurmuk Mine targets production of 25,000-35,000 oz in 2026, increasing to 55,000-65,000 oz in Q1 2027.
- Full-year 2027 production for Kurmuk Mine is projected at 240,000-270,000 oz.
- Consolidated production for Allied Gold is expected to be 400,000-435,000 oz in 2026, rising to 615,000-670,000 oz in 2027.
- The company plans to initiate a base dividend starting in 2027 and a normal course issuer bid.
- Allied Gold operates four mines across Côte d’Ivoire, Mali, and Ethiopia.
Price Impact
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