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