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Allied Gold Ends Zijin Agreement, Secures $295 Million Strategic Investment

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Allied Gold (AAUC.TO) said Wednesday that the agreement with Zijin Gold has been terminated as both companies do not foresee the agreement's conditions being satisfied by the outside date of July 29.

Zijin will instead make a $295 million strategic investment in Allied and will subscribe for 12.8 million shares at C$32.55 per subscription share through a private placement, a statement said. The investment will give Zijin a 9.2% equity stake in Allied.

Proceeds will be used to develop Allied Gold's properties in Mali, Cote d'Ivoire and Ethiopia.

The company separately said it produced 97,429 gold ounces in the second quarter, a 7% increase over the comparable quarter in 2025.

Total gold production for the first half of the year was 193,445 ounces.

Allied Gold shares closed up C$0.06, to C$29.50 on Tuesday on the Toronto Stock Exchange.

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