Allied Gold Corporation reported a robust fourth‑quarter 2025 gold output of 117,004 ounces, bringing the full‑year production to 379,081 ounces. The all‑in sustaining cost (AISC) fell to $1,980 per ounce, a decline of $112 from the $2,092 per ounce recorded in Q3 2025. Management guided for 2026 production of 485,000 to 575,000 ounces, driven largely by the expected start of operations at the Kurmuk project in the second half of the year.
Compared with the prior quarter, Q4 2025 production rose 35% from 87,020 ounces in Q3 2025, while the AISC improved from $2,092 to $1,980 per ounce. In the same period last year, Q4 2024 production was 99,632 ounces and the AISC was $1,708 per ounce, underscoring the company’s continued cost discipline and operational efficiency gains.
The AISC reduction was attributed to a combination of operational improvements, supply‑chain optimizations, and a shift in the mining mix toward lower‑cost sites. These measures have enabled Allied Gold to maintain higher margins even as gold prices fluctuated during the year.
The Kurmuk project, slated to begin production in mid‑2026, is expected to contribute roughly 290,000 ounces annually for the first four years and 240,000 ounces per year thereafter, with an AISC projected below $950 per ounce. The project’s early start and lower operating costs are key drivers behind the optimistic 2026 guidance.
Allied Gold’s mineral reserves grew to 11.2 million ounces of gold as of December 31 2025, reflecting successful reserve replacement and exploration. Cash balances stood at approximately $480 million, providing a solid financial cushion for capital expenditures and potential acquisitions.
Market reaction to the announcement was positive, with investors citing the company’s ability to exceed 2025 guidance, the strong 2026 outlook, and the progress of the Kurmuk project as primary catalysts. Analysts highlighted the company’s improved cost structure and expanding reserves as evidence of robust operational execution.
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