Allied Gold Corporation · TSX:AAUC
Allied Gold — Q1 2024 Earnings Presentation
24 slides from Allied Gold's earnings presentation, May 10, 2024
Slide 1: First Quarter 2024 Results
TSX: AAUC FIRST QUARTER 2024 RESULTS May 10, 2024
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: Operating trends and cash flow generation showing clear positive momentum
Operating trends and cash flow generation 1ST QUARTER showing clear positive momentum(1) OPERATING $38.0M CASH FLOW BEFORE TAX AND WORKING CAPITAL The first quarter has already begun to show clear improvements: Improving Production during the first quarter is 8.3% higher than the comparative prior p
Slide 4: Sustainable Production Base Set for Improvement
Sustainable Production Base Set for Improvement(1) These operational improvements and initiatives • Operational Integration and Enhancement at Agbaou: • Transition of mining operations to a unified contractor completed are designed to enhance • Expected operational synergies in future quarters despi
Slide 5: Operational Highlights
Operational Highlights(1,2) Sadiola, Mali Bonikro, CDI Agbaou, CDI PRODUCTION: SALES: PRODUCTION: SALES: PRODUCTION: SALES: 48,330 oz 44,868 oz 18,631 oz 21,304 oz 18,216 oz 18,964 oz COST PERFORMANCE COST PERFORMANCE COST PERFORMANCE Cost of sales, cash cost and AISC per ounce sold of Cost of sales
Slide 6: First Quarter Financial Performance
First Quarter Financial Performance Currently, the Company's primary focus, which is well underway, is to transition Quarterly Financial Highlights from accumulating a portfolio of high- 1Q 2024 1Q 2023 quality, high-potential assets to stabilizing and optimizing operations Revenue 175.1 154.3 Gross
Slide 7: 2024 Guidance
2024 Guidance(1) Gold Production 2024 is set to deliver increased 375,000 – 405,000 ounces production at lower costs First Half: 45%, Second Half: 55% Cash Costs(2) Significant expansion projects are underway, while exploration continues $1,250/oz to add upside across the Company’s asset portfolio,
Slide 8: 2025 and 2026 Outlook
2025 and 2026 Outlook(1) While not currently included in Expected operating trends through outlook period the one-year guidance, the Outlook & Trend operating outlook—based on our Mineral Reserves and • Sequential increase each year during outlook period, targeting 230koz per annum, bolstered by pos
Slide 9: Significant Near-Term Growth with Longer-Term Upside
Significant Near-Term Growth with Longer-Term Upside(1,2) Enhancing • Increasing production from Diba and maximizing oxide ore sources at Sadiola • Implementing processing improvements at Bonikro 2024E: Production of 375-405koz Au Sustainable • Appointment of a new contractor at Agbaou, alongside up
Slide 10: Sustainability
Sustainability • Safety and Environmental Performance − - The Company did not report any significant Environmental Incidents for the three months or three months ended March 31, 2024 − - For the quarter ended March 31, 2024, the Company reported 1 Lost Time Injuries (“LTI”), resulting in a Lost Time
Slide 11: Allied Gold Africa's Next Leading Producer
Allied Gold Africa’s Next Leading Producer(1) • Upcoming Milestones: - Exploration results at Bonikro and Kurmuk ➢ Drilling and resource model update at Oume to support transition from a strategic mine life of 10- years to established plan supporting such outlook ➢ Exploration results at Dish Mounta
Slide 12: Appendix
APPENDIX allied GorD
Slide 13: 2024 Guidance by Mine
2024 Guidance by Mine(1) Au Production Cash Costs Mine-Site AISC EXPECTED 2024 PRODUCTION SPLIT (Au oz) (US$/oz)(2,3) (US$/oz) (2,3) Sadiola 195,000 – 205,000 1,075 1,150 Bonikro 95,000 – 105,000 1,275 1,650 First Half Second Half Agbaou 85,000 – 95,000 1,595 1,675 Total 375,000 – 405,000 1,250 1,40
Slide 14: Sadiola Overview
Sadiola Overview(1) Near-term Upside From Diba project • Large-scale open-pit mine set for transformational growth and optimizations over an estimated 19-year Diba Project(4) offers near surface oxide LOM; Allied owns 80% with Mali government holding a and transitional ore feed to materially 20% inc
Slide 15: Côte d'Ivoire Operating Complex Overview
Côte d’Ivoire Operating Land holdings & Dougbafla Prospect Complex Overview(1) • Combined 847 km2 across 5 permits, with the West African Greenstone Belt underlying all of Côte d'Ivoire • Open pit gold mining complex located ~20km apart, offering synergies and exploration potential • Largest explora
Slide 16: Kurmuk Overview
Kurmuk Overview(1) Exploration targets - Tsenge • Accretive ownership consolidation: Increased ownership • Prolific geological environment, to 93% with remaining 7% held by the Ethiopian known for scale and continuity government • Several targets identified near mine • Phased, expanded project: A pl
Slide 17: Kurmuk Project Update
Kurmuk Project Update(1) Implementation and Early Works: • Team and Planning • Strong delivery capabilities in Africa; initiated early works execution in Q4 2023 with activities continuing through Q1 2024 • Activities: • Staffing plan implemented and EPCM team mobilized • Advanced engineering and fo
Slide 18: 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 19: 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 20: 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 21: 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 22: 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 23: Appendix B Non-GAAP Financial Measures
Appendix B Non-GAAP Financial Measures ADJUSTED NET EARNINGS (LOSS) AND ADJUSTED NET EARNINGS (LOSS) PER SHARE The Company uses the financial measures “Adjusted Net Earnings (Loss)” and the non-GAAP ratio “Adjusted Net Earnings (Loss) per share” to supplement information in its financial statements.
Slide 24: Investor Relations
Investor Relations 200 Bay Street Suite 2200, Royal Bank Plaza – North Tower Toronto, Ontario M5J 2J3 ir@alliedgold.com www.alliedgold.com