Shareholders of Canada-based gold miner Allied Gold have voted in favour of the proposed buyout of the company by Hong Kong-listed Zijin Gold in a cash transaction valued at about C$5.5-billion.

When the proposed deal was announced in January, Allied Gold chairperson and CEO Peter Marrone described the transaction as a "highly attractive all-cash offer" for the company, which owns assets in Côte d'Ivoire, Mali and Ethiopia.

Meanwhile, the company has also reported record production for the fourth quarter ended December 31, 2025 and advances in its growth strategy.

Allied Gold produced 117 004 oz of gold in the fourth quarter and 379 081 oz of gold for the 2025 financial year. Production for the quarter represented a 34% increase over the average production of the three previous quarters in 2025 and is the highest quarterly production achieved to date by the company.

Performance was in line with expectations and operating plans, exceeding fourth-quarter guidance and delivering solid momentum heading into 2026. All-in sustaining costs for the quarter also improved from the previous period and are estimated at $1 980/oz sold, which, together with higher realized gold prices, led to increased margins and cash flows.

In terms of its growth projects, Allied Gold said procurement and logistics of critical items for its Kurmuk project, in Ethiopia, was substantially completed at year-end. Mining activities at Ashashire and Dish Mountain are progressing according to plan, with the objective of building at least three months worth of ore stockpiles to support the start of operations in mid-2026.

Kurmuk continued mechanical activities throughout the first quarter of this year, progressing the remaining earthworks at the tailings storage facility and haulage road, and advancing piping and electrical installation, other infrastructure, and ancillary facilities. The Ethiopian Electrical Power Company is advancing the power line construction, which is expected to be completed before commissioning.

Pre-commissioning activities are planned to begin at the start of the second quarter, with the first gold expected by mid-year.

At Sadiola, in Mali, the Phase 1 expansion continues, with the processing of fresh ore having started in the first quarter of this year. Ramping up of the new mill is also continuing.

Allied Gold noted that ongoing studies have identified the addition of a pre-leach thickener as a key component of future expansion, and engineering has commenced ahead of planned construction this year.

The company has adopted a phased, organic growth strategy to expand throughput beyond nine-million tonnes a year by progressively upgrading the existing plant in stages, enabling more efficient capital deployment and risk management while advancing recovery improvements and energy initiatives in parallel.

Initial work on the seven-million-tonne-a-year expansion is expected to begin this year, supported by about $200-million of capital, alongside continued development of a staged, scalable energy programme incorporating hybrid thermal and solar generation with battery storage to support long-term growth.