Activities report for December quarter 2011
24.01.2012 | Marketwire
QUEENSLAND, AUSTRALIA -- (Marketwire) -- 01/24/12 --
24 January 2012
ACTIVITIES REPORT FOR DECEMBER QUARTER 2011
* Group production for 3 months (31,181 ounces) and 12 months
(108,338 ounces)
* Guidance of 180,000 ounces pa production in 2012 reaffirmed
Allied Gold Mining Plc ('Allied' or 'the Company') provides the
following summary and overview of its activities for the quarter ended
31 December 2011.
Production Summary Simberi, Papua New Guinea
* Production for the 3 months - 12,387 oz at Gross cash cost
of US$1108/oz
* Production for the 12 months - 57,284 oz at Gross cash cost
of US$979/oz
* Targeting 16,000oz to 18,000oz in March 2012 quarter and
75,000oz in 2012
Production Summary Gold Ridge, Solomon Islands
* Production for the 3 months - 18,794 oz at Gross cash cost
of US$1319/oz
* Production for the 12 months - 51,054 oz at Gross cash cost
of US$1224/oz
* Targeting 23,000oz to 25,000oz in March 2012 quarter and
105,000oz in 2012
Financial Highlights
* Average realized gold price of US$1,695 per ounce, up 24%
year on year
* EBITDA of US$9.1 m for the December quarter
* Operational cash flow of US$23.5 million
* Cash at bank of US$21 million at 31 December 2011
* On 5 January 2012, US$80 million gold loan used to repay
US$55m in borrowings
Corporate
* Johan Oelofse appointed as Chief Operations Officer
* Allied shares admitted to FTSE 250 Index and the MCSI UK
Small Cap index
* Allied shares admitted to the S&P/ASX 300 Index in
Australia
To view the full press release including graphs please download the
following pdf
http://www.rns-pdf.londonstockexchange.com/rns/0604W_-2012-1-24.pdf
For further information please contact:
Allied Gold Mining Plc (Investor and Media)
- Simon Jemison, +61 418 853 922
RBC Capital Markets (Corporate Brokers)
- Stephen Foss / Matthew Coakes
/ Daniel Conti +44 (0)20 7653 4000
Oriel Securities (Joint Corporate Broker)
- Jonathan Walker / Michael Shaw +44 (0)20 7710 7600
Buchanan (Financial PR Advisor)
- Bobby Morse / James Strong /
Cornelia Browne +44 (0)20 7466 5000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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