Video News/BMO Capital Markets 2026

Allied Gold (TSX: AAUC; OTCQX: AAUCF) has agreed to a C$5.5 billion all-cash sale to Zijin Mining, less than two years after its September 2023 IPO at an approximate C$970 million valuation. Speaking at the 35th BMO Global Metals, Mining & Critical Minerals Conference, Chairman & CEO Peter Marrone said the board set a clear pricing benchmark during negotiations. “It has to be in the mid forties,” he said, referring to the per-share threshold required to support a transaction. The offer represents a premium to an all-time high share price after Allied rose more than 300% last year on the Toronto Stock Exchange. Allied’s portfolio is anchored by the Sadiola mine in Mali, which hosts more than 10 million ounces of resources and over 7 million ounces in reserves, and the Kurmuk project in Ethiopia, expected to produce close to 300,000 ounces annually at an all-in sustaining cost of about $950 per ounce. Marrone said the transaction reflects evolving global gold M&A dynamics, with Asian buyers applying different assumptions on jurisdictional risk and long-term pricing as shareholders prepare to vote in March, with closing anticipated in April.