Allied Gold Q1 output rises 14% to 96,016 oz as AISC holds $2,264
Allied Gold produced 96,016 ounces in Q1 2026, up 14% year-over-year, with AISC at $2,264 per ounce. The company posted a net loss of $58.3 million and adjusted earnings of $48.6 million, while advancing Kurmuk toward mid-2026 first gold and progressing its transaction with Zijin Gold.
1. Financial Results
Allied Gold reported a first-quarter net loss of $58.3 million, or $(0.47) per share, and adjusted earnings of $48.6 million, or $0.39 per share. Operating cash flow before tax and working capital changes was $162.7 million, with cash and equivalents at $424.2 million and adjusted EBITDA of $173.3 million.
2. Production and Costs
The company produced 96,016 ounces of gold, up 14% year-over-year, and sold 99,878 ounces. Consolidated AISC was $2,264 per ounce sold, with higher royalties from an average gold price of $4,775 per ounce adding approximately $80 per ounce to costs.
3. Asset Performance
At Sadiola, first-quarter output of 44,104 ounces aligned with plan, with higher grades and throughput expected to boost volumes later. Bonikro delivered 29,011 ounces, outperforming the prior-year quarter due to mine sequencing, while Agbaou produced 22,901 ounces in line with plan.
4. Growth Initiatives and Zijin Transaction
Kurmuk’s project advanced with ore stockpile builds, steel and EC&I installations and power line construction, targeting mid-2026 commissioning for first gold. Phase 1 of Sadiola’s expansion is online with a new comminution circuit, pre-leach thickener engineering underway for 2027, and the definitive arrangement with Zijin Gold is progressing.