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TORONTO, Nov. 7, 2024 /PRNewswire/ - Allied Gold Corporation (TSX:AAUC) (OTCQX:AAUCF) ("Allied" or the "Company") is pleased to announce a series of changes and developments meant to improve operational oversight, improve mining operations, advance the Kurmuk project towards operations and improve corporate governance. These include management and board appointments, awarding the mining contract for Kurmuk to a reputable international contractor, as well as consolidating mining activities in Mali and Cote d'Ivoire operations under the same well experienced and well capitalized contractor. These changes are all positive steps towards securing the long-term success of the Company.
Management and Board Changes
The Company has appointed Johannes Stoltz as Chief Operating Officer, leveraging his 28 years of mining experience and deep knowledge of Allied's operations. Johannes' transition into the role has been occurring since the beginning of 2024, and he has been primarily responsible for optimizations and improvements initiated to improve operations from early this year, making strong progress toward achieving sustainable and predictable production goals starting in the third quarter. This appointment is part of an organized succession plan that had begun at the beginning of the year as his predecessor was nearing retirement, and the company having determined that for its optimizations plan, and having improved its plant functions, a focus on mining was critical and its head of operations should be a qualified mining engineer.
Allied has strengthened its Board of Directors by adding a new Board Member, Oumar Toguyeni. Mr. Toguyeni is a highly experienced global mining executive, with over 35 years of mining expertise. His career has included senior leadership positions at major international mining companies such as BHP, Alcoa Inc., IAMGOLD Corporation, and he has also recently been appointed to the Board of Directors of Hummingbird Resources. He very recently joined the board of that company in connection with the restructuring and recapitalization of the company initiated, and financially supported, by its largest shareholder. Beginning his career as an exploration geologist, Mr. Toguyeni has gained extensive experience in Europe, North and South America, the Caribbean, and particularly in West Africa, where he is based. His executive career includes senior operational and sustainability positions with direct oversight of West Africa including Mali the result of which, together with his in country relationships, will assist in management of and board oversight over the Company's in country efforts. Fluent in English and French, he brings a wealth of international experience and insight to the Board. He is a geologist and also holds a Master of Business Administration degree.
The Company is further consolidating its management into its head office in Toronto, rationalizing legacy offices throughout the organization. This includes consolidating positions and centralizing technical processes including resource modelling, strategic planning, and others in the head office.
