Allied Gold Corp.

Allied Gold Corp. is a mid-tier gold producer headquartered in Toronto, Canada, operating primarily in Africa. The company's portfolio consists of 4 projects, comprising 2 operating mines, 1 development, and 1 expansion project. Key assets include Bonikro, Sadiola, and Kurmuk. The business model centers on being an emerging senior producer with a portfolio of operating mines and a significant development project, all managed under common corporate oversight. To enhance efficiency, certain neighboring properties are managed as a single business unit to reduce in-country overhead costs. Processing capabilities are diverse, utilizing conventional carbon-in-pulp and carbon-in-leach circuits designed to treat a range of material types including oxide, transitional, and fresh rock. The operational approach includes phased expansions to increase throughput and process higher proportions of different ore types. Strategic initiatives are underway to improve metallurgical performance, including studies on flotation and concentrate leaching to potentially increase recoveries by over 10%. Risk management is a key component of the financial strategy, employing instruments such as zero-cost collars and prepaid forward arrangements to safeguard against price volatility and secure low-cost, non-dilutive capital.

Strategic priorities are centered on building a significant production base through a multi-pronged approach that includes optimization initiatives at existing operations, the development of new mines, and the advancement of exploration properties. A key focus is on disciplined capital allocation, demonstrated by a phased investment strategy for major expansion projects to de-risk execution and optimize returns. Near-term objectives include increasing oxide feed to processing facilities and completing the first phase of a major expansion to enhance production capacity. The organization is also dedicated to identifying and implementing operational improvements to increase output and lower costs across its assets. Resource base expansion is a critical long-term goal, with exploration efforts aimed at extending mine life through the conversion of resources and the discovery of new near-mine and regional targets. This includes a specific focus on increasing oxide inventories to support short-term production and cash flow objectives.

Executive leadership is distinguished by the presence of the former senior management team of Yamana Gold Inc., including Chairman and CEO Peter Marrone and President and Director Daniel Racine, who bring extensive experience in creating and managing a major producer. The governance framework is overseen by a board of 11 directors, of whom 6 are independent, ensuring robust oversight. Board functions are structured through 5 specialized committees: Audit, Compensation, Corporate Governance and Nominating, and Sustainability. This structure facilitates detailed supervision of critical business areas. A notable aspect of the management philosophy was demonstrated during recent negotiations with a host government, where a reconciliatory and collaborative approach was adopted to navigate a new mining code, successfully preserving operational economics while building trust. This highlights a pragmatic and relationship-focused decision-making process at the highest levels.

The sustainability approach is structured around a comprehensive management framework that integrates 6 key pillars: vision and governance, culture, systems and planning, people and leadership, performance, and innovation. Governance is driven from the top, with a dedicated Sustainability Committee of the board and direct oversight from the Chairman and CEO. The company aligns its environmental and safety systems with international standards, including ISO 14001 and ISO 45001, and has adopted the Global Industry Standard on Tailings Management (GISTM). A corporate environmental risk and opportunity assessment was completed in 2023 and is scheduled for an update in 2025. Social performance is managed through dedicated community relations teams that utilize established grievance mechanisms and formal engagement protocols. The organization's commitment to human rights is formalized in a Security Code of Conduct that aligns with the Voluntary Principles on Security and Human Rights. Annual sustainability reporting incorporates SASB standards to ensure transparent disclosure.

The current corporate structure was established through a reverse takeover transaction in September 2023, which involved Allied Gold Corp Limited and Allied Merger Corporation, an entity formed by former Yamana Gold Inc. principals, leading to a public listing. In September 2023, the company consolidated its interest in the Kurmuk Project to 100% by acquiring the remaining 35.54% from APM Investment Holdings Ltd., subject to a 7% government equity position upon commercial production. A further acquisition occurred in November 2023 with the purchase of the Korali Sud property from Elemental Atlus Royalties Corp. Key operational assets are held through joint ownership structures with host governments; this includes an 80% interest in the Sadiola Mine, an 89.89% interest in the Bonikro Mine, and an 85% interest in the Agbaou Mine. The company has also entered into strategic financing arrangements, including a streaming agreement with Wheaton Precious Metals International Ltd. in December 2024 on the Kurmuk Project and another with Triple Flag International Ltd. in August 2024 covering the Agbaou and Bonikro operations.