Allied Gold Corp. entered into an agreement to acquire 85% stake in non-core Agbaou Mine in Côte d’Ivoire from Endeavour Mining Corporation (TSX:EDV) for $80 million on January 22, 2021. Under the terms of the agreement, the total consideration consists of $20 million in cash payable in the first quarter of 2021; $40 million in Allied Gold shares. Endeavour has an option to sell the shares back to Allied Gold at the issue price which expires on December 31, 2022 or earlier if Allied Gold conducts an IPO before then; A contingent payment of up to $20 million, comprised of $5 million for each quarter of 2021 where the average gold price exceeds $1,900/oz; and A NSR royalty on ounces produced in excess of the Agbaou reserves estimated as at December 31, 2019. The NSR royalty will be based on a sliding scale, linked to the average spot gold price as follows: 2.5% if the gold price is at least $1,400/oz, 2% if the gold price is at least $1,200/oz and less than $1,400/oz, 1% if the gold price is at least $1,000/oz and less than $1,200/oz, and 0% if gold price is below $1,000/oz. Following the transaction close, the Bonikro-Agbaou operation will be comprised of multiple open pits, two processing plants with a total milling capacity of over 5Mtpa, and will have the potential to produce over 285,000 ounces annually. The transaction is expected to close on March 1, 2021.