Allied Gold Corporation Q3 2026 Earnings Recap

The stock rose 13.6% after Allied Gold reported Kurmuk’s first production and outlined a sharp production ramp, with 2027 output forecast at 615,000–670,000 ounces. The upside case is balanced by high current costs at Sadiola and the execution still required to reach commercial production at Kurmuk and improve performance at Sadiola.

Key Takeaways

• Kurmuk entered production, with 25,000–35,000 ounces expected in November and December, 55,000–65,000 ounces in Q1 2027, and 240,000–270,000 ounces for 2027.
• Management expects total gold production to rise to 615,000–670,000 ounces next year, from roughly 379,000 ounces last year and expected this year, and to reach about 800,000 ounces annually by 2029.
• Sadiola produced approximately 42,300 ounces at AISC of $2,876 per ounce. Management expects higher grades and operational changes to lift production and lower unit costs in coming quarters.
• Bonikro produced 28,600 ounces at AISC of $1,670 per ounce; Agbaou produced 20,300 ounces at AISC of $2,384 per ounce.
• Revenue was $358 million, adjusted EBITDA approximately $140 million, and adjusted net earnings $49 million ($0.37 per share). Consolidated AISC was $2,378 per ounce; quarter-end cash was $379 million.