Allied Gold Corp. entered into a sale and purchase agreement to acquire Diba project in Mali from Elemental Altus Royalties Corp. (TSXV:ELE) for $6 million on July 20, 2023. The consideration is comprised of $1 million in cash to be paid on closing and a 3% NSR royalty. Furthermore, Allied will pay $1 million in 90 days after commercial production or the earlier of December 31, 2025, $2 million within 90 days of production of 100,000 ounces from Korali-Sud, an additional $1 million payment when cumulative production reaches each of 150,000 ounces and $1 million within 90 days of production of 200,000 ounces from Korali-Sud. The transaction is subject to receipt of all required regulatory approvals. National Bank Financial acted as financial advisor of Elemental Altus.

Allied Gold Corp. completed the acquisition of Diba project in Mali from Elemental Altus Royalties Corp. (TSXV:ELE) on November 9, 2023.