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Allied Gold Announces Preliminary 2024 Fourth Quarter Operating Results Achieving Record Quarterly Production
TORONTO, Jan. 22, 2025 /CNW/ - Allied Gold Corporation (TSX: AAUC) (OTCQX: AAUCF) ("Allied" or the "Company") herein provides its preliminary operating results
About this update from Allied Gold Corporation
[{"type":"text","content":" TORONTO, Jan. 22, 2025 /CNW/ - Allied Gold Corporation (TSX: AAUC) (OTCQX: AAUCF) (\"Allied\" or the \"Company\") herein provides its preliminary operating results for the fourth quarter ending December 31st, 2024. Operational Highlights Q4 Gold Production: The Company produced 99,632 ounces of gold in Q4, well in line with previously issued production guidance of 98,000 to 102,000 ounces. This result is consistent with Allied's previous outlook and guidance that annual production from its producing mines is expected to be 375,000 to 400,000 ounces of gold, with production this quarter supporting that annualized production range. Record Quarterly Output: Fourth quarter production represents a 16% increase over the average production of the three previous quarters in 2024 and is the highest quarterly production achieved to date by the Company. Key Contributors: Sadiola Mine: At Sadiola, increased production of 54,210 ounces was driven by a full quarter of production from Korali oxide ore of approximately 48,000 ounces. The Company has previously indicated that Korali is an interim step pending the completion of the first phase expansion at Sadiola to achieve consistent annual production of 200,000 to 230,000 ounces. Côte d'Ivoire (CDI) Complex: At the CDI Complex, total production was 45,422 ounces, continuing the solid performance of the third quarter and bolstered by the strong production of Agbaou's 25,163 ounces during the quarter. Costs Trending Down: Pro-Forma All-in Sustaining Costs (\"AISC\")(1) for the quarter are improved from AISC(1) for the third quarter. AISC(1) is expected to be not more than $1,780 per gold ounce sold pro forma to gold sales from Korali produced in the fourth quarter and sold after the year-end. As the Company reports AISC(1) on an ounces sold basis, rather than ounces produced, costs will be shown on a pro-forma basis as the inventory of ounces produced from Korali was sold subsequent to the end of the year due to certain administrative delays. Strong Financial Position: The Company's cash balances, including year-end cash and proceeds from Korali gold sales immediately following year-end, are expected to exceed $340 million. While these post-year-end sales increase overall cash, the Company notes that, for accounting purposes, a working capital deficit will hav...