Allied Gold Posted Record Output in Q4 2024

SEATTLE (Scrap Monster): Unaudited financial and operating data for the fourth quarter of 2024 were released by Toronto-based Allied Gold Corporation.

The business produced 99,632 ounces of gold in the fourth quarter, which was consistent with its earlier forecast of 98,000 to 102,000 ounces. The production is a sixteen percent rise over the average for the last three quarters of the year. It was also the largest quarterly production ever for the company. 358,090 ounces were produced in 2024, a 4% increase over 2023.

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In the fourth quarter, Allied Gold reported adjusted earnings of $9.5 million, or $0.03 per share, and a net loss of $10.3 million, or $0.03 per share. During the quarter, the company's operating activities produced $49.6 million in net cash. For the quarter, the EBITDA was $50.1 million, and the adjusted EBITDA was $47.3 million. Additionally, according to a corporate news release, the corporation has $225 million in cash and cash equivalents as of the end of 2024.

The business kept up talks with the state-owned mining company in Mali during the quarter in order to explore possible mining prospects near Sadiola and other extremely productive regions.

It is anticipated that the first quarter of 2025 production will be equivalent to the same period the previous year. The business expects to produce between 375,000 to 400,000 ounces of gold in 2025, which would be a considerable increase over 2024.