by –News Direct–
Allied Gold Corp (TSX:AAUC) Chief Financial Officer Jason LeBlanc speaks to Thomas Warner from Proactive about the future of a business that describes itself as Africa's fastest-growing gold producer. LeBlanc explains that Allied Gold Corp is a newly public entity, having recently listed on the Toronto Stock Exchange.
The company boasts a current production of 375,000 ounces of gold, with a market cap of around $1 billion. Leblanc highlights the company's ambitious growth plans, aiming to double its production to 800,000 ounces by 2029.
By 2026, they anticipate a production increase to over 600,000 ounces, with projects spanning both West and East Africa. A recent financing of $267 million will be instrumental in achieving these growth targets.
He explains that Allied Gold's assets are strategically located in Mali and Cote d'Ivoire, with a developmental asset in Ethiopia, and goes on to discucss the company's management, which is largely comprised of former executives from Yamana Gold. Leblanc considers the company to be undervalued by the market as present, suggesting a potential value of over $3 billion, compared to its current trading value of $1 billion. With a focus on optimising assets and bringing new projects to fruition, Allied Gold Corp is poised for significant growth in the coming years.
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View source version on newsdirect.com: https://newsdirect.com/news/allied-gold-corp-cfo-lays-out-ambitious-expansion-plans-for-african-assets-351020015
Allied Gold Corp
COMTEX_441965749/2655/2023-10-16T07:59:24
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
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