Allied Gold Corporation · TSX:AAUC
Allied Gold — BMO Global Metals & Mining Conference 2024
29 slides from Allied Gold's conference presentation, February 2024
Slide 1: Allied Gold BMO Global Metals & Mining Conference
ALLIED GOLD BMO GLOBAL METALS & MINING CONFERENCE FEBRUARY 2024 TSX: AAUC
Slide 2: Disclaimers
DISCLAIMERS CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION AND STATEMENTS Certain information, statements, beliefs and opinions in this presentation are forward-looking statements or forward-looking information, within the meaning of applicable Canadian securities legislation. All statem
Slide 3: Opportunity Overview
OPPORTUNITY OVERVIEW(1) • Established mid-tier producer: Sustainable production of ~400koz/yr Au from three mines - the Sadiola mine in Mali and the Bonikro and Agbaou mines in Côte d’Ivoire – which will increase sequentially over the next several years • Significant and growing mineral inventory: M
Slide 4: Portfolio Overview
PORTFOLIO OVERVIEW(1) Current Au production of ~400koz/y with cost reductions underway, increasing to 400-450koz in 2025, then >600koz in 2026 Mali – Sadiola Ethiopia – Kurmuk Production + Expansion Development • 2024 Au production of ~200koz at AISC(3) of $1,150/oz with outlook growing to ~230koz •
Slide 5: 2024 Guidance
2024 GUIDANCE(1) Gold Production Cash Costs(2) Mine-Site All-in Sustaining Costs(2) 375,000 – $1,250/oz $1,400/oz 405,000 ounces Includes sustaining capital and pre-stripping costs(3) Total Expansionary Exploration Capital $32.0 million $198.5 million 2024 is set to deliver increased production at l
Slide 6: 2025 and 2026 Outlook
2025 AND 2026 OUTLOOK(1) EXPECTED OPERATING TRENDS THROUGH OUTLOOK PERIOD Outlook & Trend • Sequential increase each year during outlook period, targeting 230koz per annum, bolstered by additional oxide ore from Diba and Phase 1 expansion • AISC(2) under $1,250/oz in 2025 and $1,350/oz in 2026 Sadio
Slide 7: Significant Near-Term Growth with Longer-Term Upside
SIGNIFICANT NEAR-TERM GROWTH WITH LONGER-TERM UPSIDE(1) Mine-Site AISC Outlook (US$/oz)(2): Guidance Target <1,585 1,400 <1,375 <1,225 <1,000 ~800 >600 400-450 Meaningful growth expected from world 375-405 344 class assets with globally significant scale 2023A 2024E 2025E 2026E 2029E Annual Producti
Slide 8: Platform for Significant Value Growth
PLATFORM FOR SIGNIFICANT VALUE GROWTH(1) EBITDA: MATERIAL UPSIDE POTENTIAL(2) ~4x Growth ~3x Growth ~US$800M ~US$600M ~US$200M Sustainable Platform 2026E 2029E Illustrative EBITDA (US$M) With the objective to almost double production through 2026, EBITDA is anticipated to triple due to the decline i
Slide 9: Appendix
APPENDIX Facllied
Slide 10: Sadiola Overview
SADIOLA OVERVIEW(1) NEAR-TERM UPSIDE FROM DIBA PROJECT • Large-scale open-pit mine set for • Diba Project(4) offers near surface transformational growth and optimizations oxide and transitional ore feed to over an estimated 19-year LOM; Allied owns 80% materially increase production with Mali govern
Slide 11: Côte d'Ivoire Operating Complex Overview
CÔTE D’IVOIRE OPERATING COMPLEX OVERVIEW(1) LAND HOLDINGS & DOUGBAFLA PROSPECT • Open pit gold mining complex located ~20km • Combined 847 apart, offering synergies and exploration potential km2 across 5 permits, with the - Allied ownership: Agbaou 85%, Bonikro 89.9% West African Greenstone Belt • I
Slide 12: Kurmuk Overview
KURMUK OVERVIEW(1) • Accretive ownership consolidation: Increased ownership to 93% with remaining EXPLORATION TARGETS - TSENGE 7% held by the Ethiopian government • Board approval for phased, expanded • Prolific geological environment, project: A plus 240,000-ounce-per-year gold known for scale and
Slide 13: Kurmuk Project Update
KURMUK PROJECT UPDATE(1) • Completed FEED optimization study a ten-year mine life based on Mineral Reserves, with production levels averaging 290,000 oz per year in the first five years and life of mine AISC(2) below $950 per ounce • Increased throughput from 4.4MT per year (2022 DFS) to 6.0Mt per y
Slide 14: 2024 Guidance by Mine
2024 GUIDANCE BY MINE(1) Au Production (Au oz) Cash Costs (US$/oz)(2,3) Mine-Site AISC (US$/oz) (2,3) Sadiola 195,000 – 205,000 1,075 1,150 Bonikro 95,000 – 105,000 1,275 1,650 Agbaou 85,000 – 95,000 1,595 1,675 Total 375,000 – 405,000 1,250 1,400 (US$ millions) Sustaining Capital Expansionary Capit
Slide 15: 2023 Mineral Reserves and Mineral Resources Update
2023 MINERAL RESERVES AND MINERAL RESOURCES UPDATE(1,2) • Grew Mineral Reserves by >300koz Au, or 2.8%, to 11.2Moz Au o Represents approximately 190% replacement of depletion o Reflects meaningful growth at Sadiola, Agbaou and Kurmuk, with partial replacement of mining depletion at Bonikro • Increas
Slide 16: 2023 Mineral Reserves and Mineral Resources Update
2023 MINERAL RESERVES AND MINERAL RESOURCES UPDATE(1,2) Change in Consolidated Mineral Reserves (Koz Au) Consolidated Mineral Reserves and Mineral Resources (December 31, 2023) Resources shown inclusive of Reserves (on a 100% basis) Tonnage Grade Content (Mt) (Au g/t) (Koz Au) Proven Reserves 47.1 1
Slide 17: Sadiola Exploration Update
SADIOLA EXPLORATION UPDATE(1) Sadiola • Objective to support phased expansion, looking to improve upon of the base plan adding low-cost oxide ounces in the short term to increase cashflows • 2023 achievements • Identified Mineral Reserves and Mineral Resources at Diba • Replaced 187% of 2023 mining
Slide 18: Côte d'Ivoire Exploration Update
CÔTE D’IVOIRE EXPLORATION UPDATE(1) 2023 achievements • 25% increase in Mineral Reserves at Agbaou, representing 229% of 2023 depletion • Increased Measured & Indicated Mineral Resources at Bonikro by 28% Bonikro • Oume (Dougbafla prospects) • Established exploration camp to allow night shift operat
Slide 19: Kurmuk Exploration Update
KURMUK EXPLORATION UPDATE(1) • Dish Mountain Infill Drilling • Target upgrading Dish Mountain Inferred to Indicated within pit design • Access and rig deployment to Tsenge and field camp • Tsenge • Tsenge completed detailed mapping and targeting • 5,500 mapping observations • Detailed interpretation
Slide 20: Strong Positioning Within Peer Set
STRONG POSITIONING WITHIN PEER SET(1) (2) (2) ANNUAL PRODUCTION (KOZ 2024E) AISC (US$/OZ 2024E) Continued growth Expansion projects and optimization efforts to drive 1,486 expected 2029+ peer-leading AISC; continued AISC improvement Significant production expected 2029+ 1,818 1,185 growth expected i
Slide 21: Attractive Valuation vs Peers
ATTRACTIVE VALUATION VS PEERS(1) MARKET CAPITALIZATION (US$B) P/NAV (X) $4.2 Illustrative P/NAV re-rating is underscored by Potential for significant share EBITDA growth, as an EV/EBITDA multiple of price appreciation via 1.11x ~4.5x based on leading peers, aligned with Allied’s expansion of P/NAV m
Slide 22: Industry-Leading ESG Performance Standards
INDUSTRY-LEADING ESG PERFORMANCE STANDARDS Health and Safety Governance Environment Social Tailings Focus on continued Board oversight of Full compliance with Significant progress to Direct reporting on improvement standards, ESG topics regulations and starting date in stakeholder tailings managemen
Slide 23: Management and Board Summary Bio's
MANAGEMENT AND BOARD SUMMARY BIO’S Management Team Accomplished Board of Directors Peter Marrone Founder and former CEO of Yamana Gold Inc. (“Yamana”) until 2018 Peter Marrone In addition to his role of founder and former Executive Chairman of and Executive Chairman until 2023; has 30+ years of mini
Slide 24: Appendix A Mineral Reserves and Mineral Resources
APPENDIX A MINERAL RESERVES AND MINERAL RESOURCES As of December 31, 2023 Proven Mineral Reserves Probable Mineral Reserves Total Mineral Reserves Mineral Property Tonnes (kt) Grade (g/t) Content (koz) Tonnes (kt) Grade (g/t) Content (koz) Tonnes (kt) Grade (g/t) Content (koz) Sadiola Mine 18,612 0.
Slide 25: Appendix A Year-End 2023 Mineral Reserves and Resources
APPENDIX A YEAR-END 2023 MINERAL RESERVES AND RESOURCES Reporting Notes SADIOLA KURMUK Mineral Resources: Mineral Resources: • The Sadiola Mineral Resource Estimate is listed at 0.5 g/t Au cut-off grade, • The Kurmuk Mineral Resource Estimate is listed at 0.5 g/t Au cut-off grade and constrained wit
Slide 26: Appendix A Year-End 2023 Mineral Reserves and Resources
APPENDIX A YEAR-END 2023 MINERAL RESERVES AND RESOURCES Reporting Notes BONIKRO AGBAOU Mineral Resources: Mineral Resources: • The Mineral Resource estimate for Bonikro and Agbalé are listed at 0.5 g/t Au cut-off • The Agbaou Mineral Resource Estimate is listed at 0.5 g/t Au cut-off grade, grade, co
Slide 27: Appendix B Non-GAAP Financial Measures
APPENDIX B NON-GAAP FINANCIAL MEASURES NON-GAAP FINANCIAL PERFORMANCE MEASURES The Company has included certain non-GAAP financial performance measures and ratios to supplement its Consolidated Financial Statements, which are presented in accordance with IFRS, including the following: (i) Cash costs
Slide 28: Appendix B Non-GAAP Financial Measures
APPENDIX B NON-GAAP FINANCIAL MEASURES AISC PER GOLD OUNCE SOLD AISC figures are calculated generally in accordance with a standard developed by the World Gold Council (“WGC”), a non-regulatory, market development organization for the gold industry. Adoption of the standard is voluntary, and the sta
Slide 29: Investor Relations
Investor Relations 200 Bay Street Suite 2200, Royal Bank Plaza – North Tower Toronto, Ontario M5J 2J3 ir@alliedgold.com www.alliedgold.com
Allied Gold — BMO Global Metals & Mining Conference 2024 on 6ix