Topic: How To Invest

Q: Hi, Pat. Thanks for all your advice. It has been much appreciated. Can I have your opinion on Allied Gold Corp. (AAUC), please. Thanks.

Article Excerpt

A: Allied Gold Corp., $3.79, symbol AAUC on Toronto (Shares outstanding: 250.7 million; Market cap: $985.4 million; www.alliedgold.com), is a Canadian-based gold producer with three operating mines, a significant gold development project and exploration properties throughout Africa. The company’s principal properties are the Sadiola gold mine in the Kayes region of West Mali (80% ownership), the Bonikro (90% ownership) and Agbaou (85% ownership) gold mines in Cote d’Ivoire, and the Kurmuk gold development project in Ethiopia (100% ownership). Allied Gold was founded in 2011 as a private company. In 2023, however, it combined its business with Allied Merger Corp., a company started by former executives of Yamana Gold. Yamana was taken over in early 2023 by Pan American Silver, following the sale by Yamana of its Canadian assets to Agnico Eagle Mines. The new Allied Gold began trading on the Toronto Stock Exchange in September 2023. Yamana Gold was led by CEO Peter Marrone, who founded the company in 2003. Marrone is now chairman…