Allied Gold Corporation · TSX:AAUC
Allied Gold — Gold Forum Americas 2024
24 slides from Allied Gold's conference presentation, Sep 18, 2024
Slide 1: Gold Forum Americas September 2024
TSX: AAUC Gold Forum Americas September 2024
Slide 2: Disclaimers
Disclaimers CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION AND STATEMENTS This presentation contains "forward-looking information" under applicable Canadian securities legislation. Except for statements of historical fact relating to the Company (as defined herein), information contained
Slide 3: Opportunity Overview
Opportunity Overview(1) • Established mid-tier producer: Sustainable production base 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: Mineral Reser
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 • Short term production level of 200-230koz/yr • Designed for 6Mt/y capacity, moved to wi
Slide 5: Significant near-term growth with longer-term upside
Significant near-term growth with longer-term upside(1) ~800 Increasing production and cost improvements are set to >600 deliver robust cash flows growth, exceeding the rate of production growth 375-405 Short-term: Additional oxide ore at Sadiola, expansion of Sadiola Phase 1, optimization and LOM e
Slide 6: Platform for Significant Value Growth
Platform for Significant Value Growth(1) EBITDA: Material upside potential(2) ~5x Growth With the objective to ~3.5x ~US$1,000M almost double production Growth through 2026, EBITDA is ~US$700M anticipated to more than triple due to the decline in production costs; ongoing expansions, optimizations a
Slide 7: Highlighting Optionality
Highlighting Optionality(1) Allied provides all the aforementioned benefits and, most significantly, promising exploration prospects with an extensive mineral inventory poised for growth Gold companies are assessed At its core, our business In a rising gold price Increasing production at progressive
Slide 8: Unparalleled Optionality and Growth
Unparalleled Optionality and Growth(1) Large existing mineral New discoveries being Growing production and inventory identified and proven lowering costs Allied Gold has a unique presence on two of the world’s most abundant gold belts: the Birimian Greenstone Belt and the Arabian-Nubian Shield Notes
Slide 9: Risk Mitigation
Risk Mitigation Political: Economic: Social: Technological: • Protocol Agreement with Mali • Delivering cost improvements • Building trust and gaining buy-in • Advancing recovery enhancements at mitigates risks after one year of ownership for improvement initiatives Sadiola • Strong partnership with
Slide 10: Compelling Valuation and Improving Liquidity
Compelling Valuation and Improving Liquidity(1) Allied is undervalued across all metrics, with significant re-rate potential as its underlying value is demonstrated Operating Case NAV Operating Case NAV Total Enterprise Value Total Enterprise Value at Consensus(2): at Flat $2,400/oz(3): to Attributa
Slide 11: Unlocking the Potential of Kurmuk
Unlocking the Potential of Kurmuk(1) Project Execution Stage 2024 2025 2026 Progressing Well • Engineering Engineering • Construction Early Works • Long-Term Power Plant Purchase Agreement • Procurement Infrastructure Contracts for long lead-time and critical-path items awarded Mining • Local Suppor
Slide 12: Case Studies in Value Creation
Case Studies in Value Creation(1) Changes in Lundin Gold valuation from the start of the Centamin Deal – The read-through value of the recent AngloGold / Centamin deal highlights the value potential at financing to September 2024 Kurmuk. Applying the implied valuation metrics from the acquisition, w
Slide 13: Driving Sustainable Growth and Value Creation
Driving Sustainable Growth and Value Creation Addressing Valuation Headwinds Navigating Comprehensive Stock geopolitical financing market and fiscal strategy liquidity uncertainties Will Discount Continue? We’re at an Inflection Point • We’ve signed a protocol agreement in Mali • We expect to delive
Slide 14: Appendices
Appendices
Slide 15: Industry-Leading Sustainability Standards
Industry-Leading Sustainability Standards Allied currently adheres to the IFC Performance standards through the optimization and development of its projects Significant reduction in TRIFR from 2.66 in 2019 to 0.40 in 2022 Committed to adhere to Health and Safety Environment Tailings the World Gold C
Slide 16: 2025 and 2026 Outlook
2025 and 2026 Outlook(1) While not currently included in the official one-year Expected operating trends through outlook period guidance, the operating • Sequential increase each year during outlook period, targeting 230koz per annum, bolstered by outlook—based on our additional oxide ore from Diba
Slide 17: Sadiola Overview
Sadiola Overview(1) • Large-scale open-pit mine set for transformational growth and optimizations over an estimated 19-year LOM; Allied owns 80% with Mali government holding 20% • Significant and growing mineral inventory: Mineral Reserves increased by ~187% of depletion in 2023 to 7.4 Moz Au (2) •
Slide 18: Côte d'Ivoire Operating Complex Overview
Côte d’Ivoire Operating • Open pit gold mining complex located ~20km apart, offering synergies and Complex Overview(1) exploration potential o Allied ownership: Agbaou 85%, Bonikro 89.9% • Infrastructure advantage: Combined milling capacity and infrastructure provides synergies and optionality • Pro
Slide 19: Kurmuk Overview
Kurmuk Overview(1) • Accretive ownership consolidation: Increased ownership to 93% with remaining 7% held by the Ethiopian government • Phased, expanded project: A plus 240,000-ounce-per-year gold mine with an AISC target of <US$950/oz and a strategic mine life extending for an initial 15 years(3,4)
Slide 20: 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 21: 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 22: 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 23: 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 in this present
Slide 24: 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