Allied Gold Secures Major Funding for Kurmuk Project

Allied Gold Corporation (TSE:AAUC) has released an update.

Allied Gold Corporation has received its first construction payment of $43.75 million under a $175 million streaming agreement with Wheaton Precious Metals, marking a significant step in financing its Kurmuk project. Additionally, Allied has secured a $75 million gold prepay arrangement with major lenders to further support the project. The Kurmuk project, located in Ethiopia, is expected to significantly increase Allied’s production and cash flow once operational.

For further insights into TSE:AAUC stock, check out TipRanks’ Stock Analysis page.