Investors responded to the milestone by driving shares up 4.9% to 31.55 Canadian dollars, or 22.55 U.S. dollars. This transition shifts the project from a development-stage asset to a core growth driver in the company's portfolio. Allied Gold continues to extract material from the deposit, aiming to expand its current stockpile to 1.5 million metric tons to ensure a steady ramp-up to full commercial capacity. As downstream infrastructure comes online, management expects to pour its first gold bars in the coming weeks.
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Allied Gold Signals Kurmuk Mine Startup With First Ore Processing
With a million metric tons of ore already stockpiled, Allied Gold has officially bridged the gap between construction and production at its Kurmuk site in Ethiopia. The company confirmed Friday that the facility is now connected to the national power grid and has successfully pushed its first ore through the circuit.
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