Strategy

Strategic Opportunities Underpin a Compelling Value Proposition

Sustainable Production with a Robust Platform for Growth
  • Production base underpinned by the Sadiola Mine in Mali and Bonikro and Agbaou in Côte d’Ivoire Complex with sustainable production of ~375koz/yr
Significant Growth Potential for Production and Financial Metrics
  • Progressing costs and cash flows optimizations: right sizing, power optimization, technology, overhead among others
  • Sadiola Expansion and Kurmuk project in Ethiopia provide near-term growth to create a dominant African gold producer
  • Production is expected to grow to 620+ koz in 2026 and target 700+ koz by 2029
  • Significant growth in EBITDA and cash flows underpinned by production growth and cost optimization
Further Consolidated Opportunity to Become Substantial Producer in Africa
  • Portfolio provides globally relevant scale with meaningful future cash flows to support pipeline and future accretive M&A
  • Seasoned management team with solid track record of successful operational and strategic execution
Multi-billion Dollar Valuation with Attractive Entry Point for Investors
  • Opportunity to buy significant growth at a discount as Allied transitions from a mid-tier to senior gold producer
  • Corporate NAV valuation at $2.1B for Base Case, ~$3.0B for Operating Case and ~$4.0B for Operating Case at spot gold price
  • Presently trading at a substantial discount in comparison to its inherent NAV and the average P/NAV multiple of its peers

Strategic Outlook

Significant Near-Term Gold Production Growth with Longer-Term Upside

Notes:
1. See Disclaimers and Cautionary Note Regarding Forward-Looking Information in most recent corporate presentation; Production figures are displayed on a 100% basis.
2. Production and AISC numbers provided as +/- 3% estimates; AISC provided at mine-level. For periods with multiple years, figures represent the approximate average annual production for each period under consideration based on management model forecast; Extended case production includes Dougbafla (satellite deposit to Bonikro); AISC rounded to nearest US$10 based on model at spot price for 2023E (~US$1,980/oz Au) and street consensus prices for 2024E+ with LT price of ~US$1,737/oz Au.

 

Organic Production and Cash Flow Growth

Organic Growth

Sadiola Optimization (Ongoing)

  • Advancing operational optimization and Phase 1 Expansion to increase operational flexibility and optimize capital deployment targeting ~200 koz/yr between 2025 and 2028

Côte d’Ivoire Operations Complex Optimization (Ongoing)

  • Advancing the integration of Agbaou and Bonikro into one business unit to realize meaningful synergies
  • Near-mine exploration success expected to support production in excess of current LOM plan of 150+ koz/yr for 7+ years

 

Notes:

  1. See Disclaimers and Cautionary Note Regarding Forward-Looking Information in most recent corporate presentation; Production figures are displayed on a 100% basis. Côte d’Ivoire production includes Dougbafla (satellite deposit at Bonikro).
Development

Kurmuk Development Project

  • Major permits and DFS completed – plan to start early works in Q4 2023 with commercial production in 2026
  • Upside to increase production and mine life driven by exploration success and geological endowment

Sadiola Expansion

  • Phase 2 Expansion expected to produce over 400 koz/yr (first 5- years average) and over 300 koz/yr (expansion LOM average) at significantly lower costs
  • Advancing studies to meaningfully increase gold recovery, providing further upside

 

Notes:

  1. See Disclaimers and Cautionary Note Regarding Forward-Looking Information in most recent corporate presentation; Production figures are displayed on a 100% basis. Côte d’Ivoire production includes Dougbafla (satellite deposit at Bonikro).
Exploration

Existing Operations and Projects

  • Exploration is ongoing at all sites with prospects expected to add to mineral resource inventory over medium-term Allied’s robust portfolio provides flexibility to grow production and cash flow through a variety of opportunities at existing operations and across new projects

    Strategic Advantage

    • Allied maintains an internal drill team of 255+ people and 17 rigs

    Notes:

    1. See Disclaimers and Cautionary Note Regarding Forward-Looking Information in most recent corporate presentation; Production figures are displayed on a 100% basis. Côte d’Ivoire production includes Dougbafla (satellite deposit at Bonikro).