Allied Gold

Allied Gold has appointed Joanna Pearson as an independent member of the board with immediate effect. Pearson brings more than 25 years of experience in financial reporting, risk management and finance transformation in the mining sector, served as CFO of Endeavour Mining from 2021 to 2023 and was previously an audit partner at Deloitte. Daniel Racine is leaving the board but will remain with the company in an advisory role as an emeritus director. The appointment comes as Allied Gold completes the transition of the Kurmuk mine from development to production and cash flow generation. » Mere på de.investing.com

Allied Gold reported adjusted earnings of $0.44 per share, operating cash flow of $133 million and adjusted EBITDA of nearly $167 million in Q2. Quarterly production exceeded 97,000 ounces (193,000 ounces H1) with all-in sustaining costs of around $2,200/oz. The Kurmuk project in Ethiopia is on schedule for a September 2026 start-up and is expected to deliver an average of about 300,000 ounces/year in 2027–2030; Sadiola and Côte d’Ivoire are also expected to contribute to higher production. Cash stood at $192 million at the quarter end, and on a pro forma basis after the Zijin investment was close to $500 million. Management sees further cost‑reduction potential and medium‑term growth. » Mere på de.investing.com