Allied Gold (Canada)

Last updated
Allied Gold Corp
Company type Public limited company
TSX:  AAUC
Industry Mining
Founded2011;14 years ago (2011)
HeadquartersToronto, Ontario, Canada
Products Gold
Website alliedgold.com

Allied Gold Corporation is a Canadian headquartered company that owns and operates gold mines in Mali, the Ivory Coast and Ethiopia. [1] Headquartered in Toronto, the company listed on the Toronto Stock Exchange in 2023. As of 2023, the company produces 375,000 ounces of gold per year. [2]

Contents

Company structure and listing

Allied Gold corp (formerly, Mondavi Ventures Ltd) was founded in 2011, initially operating as a private company developing and acquiring gold assets in Africa. [3] [4]

In 2023, Allied Merger Corporation, a company formed by former executives of Yamana Gold with the purpose of exploring mining opportunities in Africa, executed a business combination agreement with Allied Gold Corporation. The reverse takeover transaction included a US$267 million financing agreement ahead of shares in Allied Gold Corporation going live on Toronto Stock Exchange. [5]

On 11 September 2023, Allied Gold Corporation officially listed on the Toronto Stock Exchange, becoming the largest mining initial public offering since 2010 with a market capitalisation of US $970 million on the first day. [6]

Allied Gold Corporation’s common shares trade in Canadian dollars under the symbol "AAUC" and the convertible debentures trading in U.S. dollars under the symbol "AAUC.DB.U.". [7]

Leadership

As part of the 2023 agreement and after more than 10 years at the helm, co-founder and chief executive officer (CEO) of Allied Gold, Justin Dibb transitioned to the role of vice chairman. [3]

The new management team is now be led by Peter Marrone, founder of Yamana Gold, as chairman and CEO. Also announced as part of the 2023 reverse take-over Daniel Racine and Jason LeBlanc retain their former Yamana positions as president and chief financial officer (CFO) respectively. [3]

Mining operations

Allied Gold Corporation operate two gold mining operations and one exploration project in development:

References

  1. ↑ Mcgee, Niall (15 September 2023). "Former Yamana Gold head Peter Marrone turns his eye to Africa". The Globe and Mail.
  2. ↑ Karim, Naimul (12 September 2023). "Former Yamana head Peter Marrone eyes emerging nations for next big venture in gold". Financial Post.
  3. 1 2 3 "Africa's Fastest Growing Gold Miner Attracts Highly Experienced Former Yamana Principals to Drive Public Listing and Continue to Build the Next Generation Senior Gold Producer". Yahoo! Finance. 27 April 2023.
  4. ↑ "Allied Gold Corporation Announces Closing of Business Combination and Going Public Transaction". Yahoo! Finance. 7 September 2023.
  5. ↑ "Allied Gold Corporation Announces Closing of Business Combination and Going Public Transaction". Bloomberg. 7 September 2023.
  6. ↑ Dempsey, Harry (12 September 2023). "Allied Gold bypasses London for North American listings". Financial Times.
  7. ↑ "Allied Gold Corporation Commences Trading on TSX, Announces Strategic Ownership Consolidation of the Kurmuk Development Project". Bloomberg. 11 September 2023.
  8. ↑ Webb, Mariaan (12 September 2023). "Newly listed Allied Gold board approves $500m Ethiopia project". Mining Weekly.

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