Allied Gold (AAUC) Q2 2026 earnings summary

Executive summary

• Produced 97,429 ounces of gold in Q2 2026, a 7% increase year-over-year, with performance in line with expectations and operating plans across Mali, Côte d'Ivoire, and Ethiopia.

• Net earnings for the quarter were $37.2 million ($0.29 per basic share), with adjusted earnings of $55.4 million ($0.44 per basic share).

• Kurmuk Mine commissioning is underway, with production expected to begin in August/September 2026, supporting future growth.

• Strategic $295 million investment from Zijin Gold to support growth initiatives, including Kurmuk ramp-up and expansion projects.

• Côte d'Ivoire complex (Bonikro and Agbaou) targets 200,000 ounces per year for at least 10 years, with mine life extended by new discoveries.

Financial highlights

• Q2 2026 revenue was $366.3 million, up from $252.0 million in Q2 2025.

• Adjusted EBITDA for Q2 2026 was $166.9 million; operating cash flow before tax and working capital was $133 million.

• All-in Sustaining Costs (AISC) for Q2 2026 were $2,192/oz, down from $2,343/oz in Q2 2025.

• Cash and cash equivalents at June 30, 2026, were $192.2 million, with pro forma cash balance post-Zijin investment expected to be just under $500 million.

• $158.9 million spent on expansionary capital in Q2, mainly for Kurmuk development; $129.7 million paid in cash taxes for the preceding year.

Outlook and guidance

• On track to meet 2026 production guidance of 385,000–425,000 ounces from producing mines.

• Kurmuk Mine expected to contribute 100,000–150,000 ounces in 2026 (partial year), ramping up to 240,000–270,000 ounces in 2027 and 300,000 ounces in 2028.

• Sadiola production expected to increase sequentially in H2 2026, with cost reductions anticipated.

• Bonikro and Agbaou expected to meet or exceed guidance, with cost improvements anticipated.

• Strategic objective to sustain at least 200,000 ounces per year from the CDI Complex for over 10 years.