AcquisitionsMay 14, 2026, 04:55 PM
Allied Gold to be Acquired by Zijin Gold for C$5.5B
AI Summary
Allied Gold Corporation announced its Q1 2026 financial and operational results, reporting a net loss of $58.3 million but adjusted earnings of $48.6 million, with gold production increasing 14% year-over-year to 96,016 ounces. The company also provided an update on its definitive agreement for Zijin Gold International Company Limited to acquire all issued and outstanding shares for C$44 per share in cash, valuing the transaction at approximately C$5.5 billion. This acquisition is progressing with shareholder and court approvals obtained, aiming for a timely closing.
Key Highlights
- Zijin Gold to acquire Allied Gold for C$44 per share, valuing the transaction at C$5.5 billion.
- Q1 2026 gold production increased 14% year-over-year to 96,016 ounces.
- Reported Q1 net loss of $58.3 million or $(0.47) per share.
- Achieved Q1 adjusted earnings of $48.6 million or $0.39 per share.
- All-in Sustaining Costs (AISC) for Q1 were $2,264 per ounce sold.
- Net cash generated from operating activities was $57.3 million.
- Cash and cash equivalents stood at $424.2 million as of March 31, 2026.
- Kurmuk project is on track for first gold in mid-2026, targeting 6.4 Mt/y processing capacity.