Quarterly ResultAug 5, 2026, 05:04 PM
Allied Gold Secures $295M Zijin Gold Investment; Q2 Net Earnings $37.2M
AI Summary
Allied Gold Corp reported Q2 2026 attributable net earnings of $37.2 million ($0.29 per share), a significant improvement from a net loss in the prior year. The company also announced a $295 million private placement by Zijin Gold, following the termination of a previous arrangement, which will give Zijin Gold approximately 9.2% ownership. Operational highlights include a 7% increase in gold production to 97,429 ounces and the Kurmuk Mine targeting start of operations in August 2026, with expected production of 240,000-270,000 ounces in 2027.
Key Highlights
- Zijin Gold to invest $295 million (C$417 million) via private placement for ~9.2% ownership.
- Q2 2026 attributable net earnings of $37.2 million ($0.29 per share) vs $(25.4) million loss YoY.
- Q2 2026 consolidated gold production increased 7% YoY to 97,429 ounces.
- Q2 2026 revenue rose to $366.3 million from $252.0 million YoY.
- Kurmuk Mine targeting start of operations in August 2026, with first gold weeks later.
- Kurmuk Mine expects 240,000-270,000 gold ounces in 2027 and ~300,000 ounces in 2028.
- Cash and cash equivalents were $192.2 million as of June 30, 2026.
- Q2 2026 Adjusted EBITDA was $166.9 million.
Price Impact
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