Allied Gold Corporation provides its 2025 operating guidance and medium-term outlook, including updates to Mineral Reserves and Mineral Resources. In 2025, Allied anticipates producing 375,000 to 400,000 ounces of gold, representing a meaningful increase in production year-over-year. Achieving the higher end of this guided range primarily hinges on capturing opportunities to increase oxide ore feed in Agbaou from the Hire area, which are currently being studied.
Certain optimizations improved performance throughout 2024, resulting in higher production in Q4 2024. Similarly, production in 2025 is expected to be back-half weighted, with a first-half/second-half split of 45%/55%. Due to mine sequencing, the first quarter of 2025 production is expected to be below the levels of the first quarters of 2023 and 2024, while production in Q4 2025 is expected to be meaningfully higher than the first three quarters of the year.
This is driven by improvements to feed grades resulting from stripping and sequencing at Bonikro and the completion of the first phase of expansion at Sadiola in the third quarter. Production in the fourth quarter is expected to be 56% higher than in the first quarter of 2025.
Regarding costs, the projected mine-site level AISC (1) for 2025 is expected to be US$1,690-US$1,790 per ounce, reflecting operational improvements at Bonikro and Sadiola. At Agbaou the Company is pursuing opportunities to increase oxide feed from exploration targets located in the Hire area mentioned above, providing an opportunity to reduce AISC. At Sadiola, the cost guidance reflects the implementation of the previously announced Protocol Agreement with Mali over the entire year of operations.
Every US$100/oz increase in the price of gold is expected to result in US$15/oz higher AISC(1) on a consolidated basis, primarily due to certain royalties based on gold price.
Given the Ad-Valorem tax at Sadiola, the gold price impact is proportionally higher. Guidance AISC(1) is defined at a gold price of US$2,500 per ounce. Primarily due to certain royalties based on gold price, every US$100/oz increase in the price of gold is expected to result in US$15/oz higher AISC (1) on a consolidated basis with most of that attributable to Sadiola, at which the gold price impact to AISC (1) is proportionally higher.
Corporate items are expected to add approximately US$100 per ounce sold to arrive at the corporate-level AISC (1), with this impact decreasing in future periods as costs decline and production rises.
Bonikro will incur an anticipated US$60 million of capital expenditures related to production stripping during 2025, further exposing higher-grade ore and leading to robust free cash flows in the years that follow when the rock movement and stripping ratio meaningfully decreases.
As the waste stripping benefits not only 2025 but also the following two years of production, the AISC per Ounce Sold figure accounts for the allocation of the stripping spend over the ounces it benefits through 2027. Waste stripping at Bonikro during 2026 and 2027 is expected to be negligible.
Similarly, Agbaou will incur an anticipated US$25 million of capital expenditures related to production stripping during 2025, which is expected to lead to improved performance in future years.
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