Allied Gold Corporation (NYSE: AAUC) reported first quarter 2026 gold production of 96,016 ounces, representing a 14% increase from the prior year quarter. The company posted adjusted earnings of $48.6 million, or $0.39 per share, for the period.

The Toronto-based gold producer's all-in sustaining costs reached $2,264 per ounce sold, which the company said was in line with expectations. Gold sales totaled 99,878 ounces during the quarter, slightly exceeding production due to timing of shipments and inventory sales.

Production increases came primarily from the Bonikro and Agbaou mines in Côte d'Ivoire. Bonikro produced 29,011 ounces compared to 19,671 ounces in the prior year quarter, while Agbaou generated 22,901 ounces versus 19,137 ounces previously. The Sadiola mine in Mali contributed 44,104 ounces.

The company reported a net loss of $58.3 million for the quarter, compared to net earnings of $39.9 million in the prior year period. Operating cash flows before working capital movements totaled $152.2 million.

Allied Gold confirmed progress on its pending acquisition by Zijin Gold International Company Limited under a court-approved arrangement valued at approximately C$5.5 billion, or C$44 per share in cash. The company said all required shareholder and court approvals have been obtained, with regulatory approvals still pending.

Construction continues at the Kurmuk project in Ethiopia, with first gold production expected in mid-2026. The project remains on schedule, with pre-commissioning activities planned for the second quarter.

As of March 31, 2026, Allied Gold held cash and cash equivalents of $424.2 million, down from $479.8 million at year-end 2025.