10:23 AM EDT, 10/03/2024 (MT Newswires) -- Allied Gold ( AAUCF ) was at last look down 11% after saying Thursday that it is raising up to $192.2 million in an overnight marketed public offering.

The offering comprises 62 million shares priced at $3.10 each and there is an overallotment option. The closing of the offering is expected to occur on or about October 8, 2024.

Allied Gold ( AAUCF ) plans to use the proceeds to support the funding of its optimization and growth initiatives, including the expansion of the Sadiola mine in Mali and the construction of the Kurmuk project in Ethiopia.

Price: 3.11, Change: -0.39, Percent Change: -11.14