InvestmentJul 29, 2026, 07:35 AM
Allied Gold secures $295M strategic investment from Zijin Gold
AI Summary
Allied Gold Corporation announced the termination of its arrangement agreement with Zijin Gold International Company Ltd. due to unfulfilled conditions. Concurrently, Zijin Gold has agreed to make a strategic investment of approximately US$295 million in Allied Gold. This investment involves Zijin Gold subscribing for approximately 12.8 million common shares at C$32.55 per share, representing a premium to the current market price. Upon completion, Zijin Gold will hold about 9.2% of Allied Gold, with proceeds earmarked for growth initiatives like the Kurmuk mine and Sadiola expansion.
Key Highlights
- Arrangement agreement with Zijin Gold International Company Ltd. terminated.
- Zijin Gold to make a strategic investment of approximately US$295 million.
- Subscription price set at C$32.55 per common share.
- Zijin Gold will acquire approximately 12.8 million common shares.
- Zijin Gold will hold approximately 9.2% of Allied Gold's shares.
- Strategic Investment expected to close on or about August 10, 2026.
- Proceeds to fund growth initiatives, including Kurmuk and Sadiola expansion.
Price Impact
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