Allied Gold

Allied Gold placed 12,800,000 common shares at C$32.55 each, raising gross proceeds of C$416.64 million. After the transaction, Zijin Gold holds around 9.2% of the issued shares and received rights to ensure its stake on an undiluted basis does not fall below 5%. The issued shares and management holdings are subject to hold periods until 11 December 2026. Net proceeds are to be used for growth initiatives, including completion and ramp-up of Kurmuk, expansion of Sadiola, production increases at the CDI complex and exploration activities. » More on de.investing.com

Allied Gold says production and operations at the Sadiola mine in Mali and at all other sites in Mali and Côte d’Ivoire are continuing as planned and remain well away from combat zones despite the conflicts. The company is monitoring the situation and taking precautions to protect employees. The Kurmuk development project in Ethiopia is on schedule, with production targeted for Q3 2026; the takeover by Zijin Gold is still subject to regulatory approvals with an outside date of 29 May 2026. Analysts expect a profit of $4.41 per share for 2026 after a recent loss-making period, and the stock is trading close to its 52-week high. » More on de.investing.com

Proxy advisers Institutional Shareholder Services and Glass Lewis are urging shareholders to approve Zijin Gold's C$44 per share cash takeover offer. Allied Gold's board of directors unanimously recommends accepting the statutory arrangement and regards the deal as fair. The transaction reflects a significant premium to the current share price; an extraordinary general meeting is scheduled for 31 March 2026 and the proxy deadline is 27 March 2026. Allied Gold operates producing mines and development projects in Côte d’Ivoire, Mali and Ethiopia. » More on de.investing.com