Allied Gold (AAUC) Q1 2026 earnings summary

Executive summary

• Q1 2026 gold production reached 96,016 ounces, a 14% increase year-over-year, with sales of 99,878 ounces due to timing and inventory sales.

• Net loss for the quarter was $58.3 million ($0.47/share), but adjusted earnings were $48.6 million ($0.39/share).

• Operating cash flows before tax and working capital were $162.7 million, with net cash from operations at $57.3 million.

• Cash and cash equivalents stood at $424.2 million as of March 31, 2026.

• Zijin Gold transaction progressing, with all shareholder and court approvals obtained for a C$5.5 billion acquisition.

Financial highlights

• Revenue for Q1 2026 was $394.1 million, up from $346.4 million in Q1 2025.

• Gross profit excluding DDA was $190.9 million; gross profit was $170.9 million.

• Adjusted EBITDA was $173.3 million, while EBITDA was $77.7 million.

• AISC per ounce sold was $2,264, up from $1,811 in Q1 2025, mainly due to higher royalties from increased gold prices.

• Net cash used in investing activities was $109.3 million; cash used in financing was $0.3 million.

Outlook and guidance

• Sequential production increases expected at Sadiola and Bonikro in upcoming quarters, driven by higher grades and throughput.

• Kurmuk project on track for first gold in mid-2026, targeting average annual production of 290,000 ounces for the first four years.

• Sadiola expansion and optimization initiatives to improve throughput and reduce costs, with further upgrades planned through 2027.

• Exploration updates for CDI, Sadiola, and Kurmuk expected mid-2026 and in the second half of 2026.