Allied Gold could weigh options for power supply deal at Sadiola mine, CEO says

June 09, 2025 01:52 PM PDT | By EODHD

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Allied Gold could weigh options for power supply deal at Sadiola mine, CEO says — Image source: Kalkine Media

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[Mining cart in silver, gold, copper mine] TomasSereda/iStock via Getty Images Allied Gold (OTCPK:AAUCD [https://seekingalpha.com/symbol/AAUCD]) could look at alternative options [https://www.reuters.com/business/energy/canadas-allied-gold-could-look-options-power-supply-deal-sadiola-mine-2025-06-09/] for a power supply deal at its Sadiola mine in Mali following a surge in gold prices and the emergence of new opportunities, CEO Peter Marrone told Reuters in an interview Monday. Allied Gold (OTCPK:AAUCD [https://seekingalpha.com/symbol/AAUCD]) signed an agreement in February with Ambrosia Investment, giving Ambrosia a 50% stake in the mine in return for installing a new power supply system that would have improved the mine's costs; Allied also was supposed to receive $500M, including roughly half up front, from Ambrosia, but the deal has not closed. Marrone said the deal may close in June, but if it does not, it is because other options have become available to the company, since gold prices have surged nearly 30% YTD; "Our position in the country has changed dramatically along with gold prices," Marrone said. Allied Gold (OTCPK:AAUCD [https://seekingalpha.com/symbol/AAUCD]), already listed in Toronto Stock Exchange, began its dual listing on Monday on the New York Stock Exchange, closing +1.2% at $15.09. MORE ON ALLIED GOLD * Allied Gold: Solid Cash Generation Assuming Maintenance Capex [https://seekingalpha.com/article/4788717-allied-gold-corporation-solid-cash-generation-assuming-maintenance-capex] * Allied Gold Q1 2025 Earnings Call Transcript [https://seekingalpha.com/article/4784684-allied-gold-corporation-aaucf-q1-2025-earnings-call-transcript] * Allied Gold Q1 2025 Earnings Call Presentation [https://seekingalpha.com/article/4784073-allied-gold-corporation-2025-q1-results-earnings-call-presentation]

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