Allied Gold Confirms Zijin Gold Acquisition Approvals, Sets May 29 Closing Date, Reports Mixed Q1 Results

summarizeSummary

Allied Gold Corp provided an update on its C$5.5 billion acquisition by Zijin Gold, confirming all approvals are in place and setting a May 29, 2026 outside closing date, while also reporting mixed Q1 2026 financial results with increased gold production and progress on development projects.

check_boxKey Events

• Acquisition by Zijin Gold Progresses

  All requisite shareholder and court approvals have been obtained for the C$5.5 billion all-cash acquisition by Zijin Gold International Company Limited. The outside date for closing is May 29, 2026, subject to extension.

• Q1 2026 Financial Performance

  Reported a net loss of $58.3 million, but strong adjusted net earnings of $48.6 million and adjusted EBITDA of $173.3 million. Gold production increased 14% year-over-year to 96,016 ounces.

• Kurmuk Project Advancement

  The Kurmuk gold project in Ethiopia is on track for first gold in mid-2026, with an increased processing capacity target of up to 6.4 Mt/y.

• Sadiola Mine Expansion

  Phase 1 mill ramp-up completed in Q1 2026, with project execution for a pre-leach thickener underway for commissioning in Q1 2027. Total capital expenditures for the 7 Mt/y step are estimated at $200 million.

auto_awesomeAnalysis

This filing provides a crucial update on the C$5.5 billion all-cash acquisition by Zijin Gold, confirming all necessary shareholder and court approvals have been secured and setting a near-term outside closing date of May 29, 2026. This provides clarity on the timeline for the major corporate event. Additionally, the company reported mixed Q1 2026 financial results, including a net loss but strong adjusted earnings and production growth, alongside positive progress on key development projects like Kurmuk and Sadiola.