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ALLIED GOLD ANNOUNCES SETTLEMENT OF TERMS OF A DEFINITIVE PROTOCOL AGREEMENT WITH THE GOVERNMENT OF MALI WHICH WHEN SIGNED WILL DEAL WITH THE ISSUE OF A TEN YEAR EXPLOITATION PERMIT FOR SADIOLA, ADVANCEMENT OF THE KORALI-SUD (DIBA) DEPOSIT, SETTLEMENT OF CERTAIN CLAIMS AND ADVANCEMENT OF THE EXPANSION PLANS FOR THE MINE, AND ALSO ANNOUNCES FINANCING STRATEGY UPDATE
ALLIED GOLD ANNOUNCES SETTLEMENT OF TERMS OF A DEFINITIVE PROTOCOL AGREEMENT WITH THE GOVERNMENT ...
About this update from Allied Gold Corporation
[{"type":"text","content":"\n\n\n\n ALLIED GOLD ANNOUNCES SETTLEMENT OF TERMS OF A DEFINITIVE PROTOCOL AGREEMENT WITH THE GOVERNMENT OF MALI WHICH WHEN SIGNED WILL DEAL WITH THE ISSUE OF A TEN YEAR EXPLOITATION PERMIT FOR SADIOLA, ADVANCEMENT OF THE KORALI-SUD (DIBA) DEPOSIT, SETTLEMENT OF CERTAIN CLAIMS AND ADVANCEMENT OF THE EXPANSION PLANS FOR THE MINE, AND ALSO ANNOUNCES FINANCING STRATEGY UPDATE\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n Sept. 3, 2024\n \n\n /CNW/ - Allied Gold Corporation (\"Allied\" or the \"Company\") announces that it has settled the terms of a definitive protocol agreement (the \"Protocol Agreement\") with the Government of\n \n Mali\n \n , the execution of which is pending. The Protocol Agreement provides for the renewal of the Exploitation Permit for the Sadiola Gold Mine, the advancement of the development and processing of the nearby Korali-Sud (Diba) deposit, and the continued development of the phased expansion of the Sadiola Gold Mine. The Sadiola Exploitation Permit, which will be valid for a full ten years, will be issued under the newly decreed 2023 Mining Code, with renewals of equal duration available until all mineral reserves have been mined out. An application is in progress, and the permit is expected within a few weeks. With the completion of a feasibility study and tolling agreement relating to Korali-Sud, which the Company expects to file with mining authorities forthwith, all necessary approvals for the development of Korali-Sud and the processing of ore from this satellite deposit at the Sadiola Gold Mine facilities are expected within a defined period of time after entering into the Protocol Agreement, thereby ensuring contributions to production from this satellite deposit in the third quarter and, most significantly, in the fourth quarter. The Protocol Agreement also contemplates certain derogations from royalties otherwise applicable under the 2023 Mining Code. Finally, the Protocol Agreement provides that, in consideration of a one-time upfro...