Allied Gold Corporation

Thank you all for joining us this morning. Before I turn the call over, I need to advise that certain statements made during this call today may contain forward-looking information, and actual results could differ from the conclusions or projections in that forward-looking information, which include but not limited to statements with respect to the estimation of mineral reserves and resources, the timing and amounts of estimated future production, cost of production, capital expenditures, future metal prices, and the cost and timing of the development of new projects. For a complete discussion of the risks, uncertainties, and factors, which may lead to the actual financial results and performance being different from the estimated contained in the forward-looking statements, Please refer to Allied Gold's press release issued last night announcing Q3 2025 operating and financial results. I would like to remind everyone that this conference call is being recorded and will be available for replay later on today. Replay information and the presentation slides accompanying this conference call and webcast are available on Allied Gold's website at allygold.com. I will now turn the call over to Peter Maroney, Chairman and CEO.

Operator, thank you very much. And ladies and gentlemen, let me begin this conference call by pointing to the quote at the bottom of the first slide of our presentation. And I would like to repeat that quote. Let's not react to speculative headlines on geopolitical matters. We continue to operate normally. We refer to Mali in particular, and particularly in light of recent headlines. Let me begin by talking about the people of the country. They are industrious, entrepreneurial, and overwhelmingly in the country, across the population, there is support for mining. Similar to many countries, the politics, geopolitical circumstances go on. Mostly they are stable. Sometimes changes occur. But business goes on, and this is especially true for mining. Recent disruptions in fuel supply into the capital of the country affect only the capital, and there are signs of improvement. Regional governments and internationally, support has been offered. And national efforts to counter the factors that have disrupted the fuel supply have received local, regional, and international endorsement. Prolonged fuel shortages do risk civil unrest and other challenges. But so far this has not occurred, and fuel supplies have begun to enter the capital. While there has been unexpected government change in the country before, and this is true for many countries, it has not been the result of external forces, and that seems to be true now as well. And in those times of government change, I remind everyone that mines have continued to operate normally, production and cash flows were generated. We have no reason to believe that this is not true now, and we attribute that to the industrious and entrepreneurial nature of the people who support business as usual, regardless of political affiliation or affinity, and regardless of localized conflicts. So with that then, our Q3 was certainly ordinary and normal course. We had solid production of just over 87,000 ounces that sets us up for a strong Q4. We had strong cash generation, just under $110 million of adjusted EBITDA and operating cash flow of just under $200 million. We made significant progress on the Satyola phase one expansion and the Kermuk development. Our all-in sustaining costs of $2,092 per ounce were down 11% as compared to the second quarter. As we had indicated, for the second quarter conference call we would expect. And we expect further reductions in Q4 with higher grades at Sadiola, particularly with a phase one expansion completed over the course of the next few weeks into December. Operations are performing well. We're operating normally at Sadiola, and that carries strong momentum into the fourth quarter. At AgBout production, quarter over quarter from Q2 to Q3 was up 43%. We expect that sustained production to continue into Q4 and into next year. And at Bonacro, we're on plan. Grades are where we expect them to be. Recoveries and throughput improved. And again, we expect that that will continue into this quarter and the quarters to follow. We had adjusted EBITDA to conclude with $110 million, cash flow of just under $200 million, and cash balances at the end of the third quarter of just over $262 million. What to expect then in Q4 and beyond? Sadiola and Bonacro will be notably higher. We indicated up to 40% higher in Q4 over Q3. We are almost halfway through the quarter and we can see that production ramp up progressing very well. Our Q4 costs are expected to improve. Momentum from that is expected to continue into the first quarter of next year and throughout the year. And we stand by the guidance of a production level for 2025 that is greater than 375,000 ounces. That sets us up for a consistent 100,000 ounces per quarter at improved costs, leading to improved financial performance. And then Kermuk kicks into production by the middle of the year. With that, ladies and gentlemen, let me pass the call to Johan, our Chief Operations Officer, to go through our production in more detail.

Good morning, Peter, and good morning, everybody. Thank you very much, Peter, for the headlines. I would like to start off on slide three, the operations, starting off with Seriola. The operations were stable and on plan. I was at Seriola last week, and operations are running normally. We're not seeing any logistic disruption and consumable inventories, including fuel, remains at normal levels. The operation is running normally with noticeable improvements. Production is on track to meet the full year guidance with Q4 expected to be 40% higher than previous quarters. Phase 1 expansion remains on schedule for completion in December, enabling us to treat up to 60% fresh or in the mill feed. Bonnie Crow was on plan with higher grades, better throughput and recoveries. The stripping and maturity of pushback five and pushback three will provide us access to higher grades at lower cost in Q4. Akbaal production increased 43% quarter on quarter, as Peter also alluded to, and driven by higher grades and throughput and operational improvements. Overall, operations were on plan positioning us higher, positioning us higher production and lower unit cost in Q4. If we go to the next slide, regarding the Sediola phase one expansion progress, the phase one expansion remains on schedule and continued to advance through Q3 and into Q4. Mechanical installation of the new mill and crushing circuit is complete. The mobile pebble crusher is on site and ready for the December commencement. Engineering and pre-leach thickener is on its way to support higher fresh ore processing. With phase one nearing completion, we expect new combination circuit to be ready to receive ore late in the fourth quarter. At that point, Sariola will be able to process up to 60% fresh ore through the plant and which will materially lift throughput rates, improve recoveries, and lowering processing costs. This expansion will bring additional flexibility into the operation and pave the way for lower cost and improved predictability. So in short, phase one is on plan. Commissioning begins in December, and it will set up structural setup change for seriola production and cost base. Moving over then to the Kermuk progress, Kermuk continues to advance on schedule. Engineering and the substantial complete, and the site extension is well underway. The plant construction, including the mechanical erection, concrete works, and the key infrastructure such as water or the water dam is advancing. Logistics are active. Long lead equipment is on site. Initial ore supply has been established from both Ashishiri and Dish Mountain. The plant capacity has been approved to 6.4 million tons per year, which enhances the long-term production profile. Looking ahead, priorities to complete the mechanical and electrical infrastructure works, build up to the three-month high-grade stockpiles, connect the power line, and advance to the pre-commissioning. Upcoming priorities include the completion of the construction, build the high-grade stockpiles, as alluded earlier, provide the line connection and the pre-commissioning. We maintain on track for first gold by mid-2021. And with this, I'd like to pass over to our Chief Exploration Officer, Don Dudek. Thank you.