Allied Delivers on September Quarter

 

TIDMAGLD 
 
RNS Number : 9429T 
Allied Gold Limited 
06 October 2010 
 

FOR IMMEDIATE RELEASE 
           6 october 2010 
                              allied gold limited 
                                ("the Company") 
"This press release is not for dissemination in the United States and 
 shall 
              not be disseminated to United States news services." 
 
                    Allied Gold delivers on SepTEMBER QUARTER 
 
-    18,000 ounces in September Quarter IN LINE with Guidance 
-    Cash Costs US$660 per ounce, MArgin US$550 PER OUNCE 
-    FULL DETAILS IN QUARTERLY REPORT due MID-MONTH 
 
Allied Gold Limited's 100% owned Simberi gold mine in Papua New Guinea produced 
18,000 ounces in the September quarter in line with guidance. 
Mill throughput at Simberi is running at 2.2 million tonnes per annum with 
560,000 tonnes processed in the September quarter at a grade of 1.09 g/t and 
recoveries at 91.3 percent. 
Simberi's total cash cost for the quarter is expected to be approximately US$660 
per ounce, but is subject to inventory adjustments and final review in the 
coming week. 
Full details of Simberi's production performance will be available as part of 
the company's quarterly activities report due in mid-October. 
Allied anticipates a similar performance in the December quarter before an 
expansion of the oxide processing towards 100,000 ounces per annum starts to 
take effect from mid-2011. 
Refurbishment and construction activities at the fully-funded 120,000 ozpa Gold 
Ridge mine in the Solomon Islands continues to progress well. 
The US$135 million development is on time and on budget for first gold by March 
2011, taking annualised gold production to 200,000 ounces across the group. 
As at 1 October 2010 Allied's cash at bank stood at US$64 million. 
 
For more details please contact: 
Simon Jemison                 Investors and Media 
(Aust)    + 61 (0) 418 853 922 
Rebecca Greco                Investors 
   (North America)      +1   416 839 8610 
David Simonson               Merlin PR 
  (UK)      + 44 (0) 20 7726 8400 
 
Beaumont Cornish Limited 
Roland Cornish 
         T: [phone] 
 
Forward-Looking Statements 
This press release contains forward-looking statements concerning the projects 
owned by Allied Gold.  Statements concerning mineral reserves and resources may 
also be deemed to be forward-looking statements in that they involve estimates, 
based on certain assumptions, of the mineralisation that will be found if and 
when a deposit is developed and mined.  Forward-looking statements are not 
statements of historical fact, and actual events or results may differ 
materially from those described in the forward-looking statements, as the result 
of a variety of risks, uncertainties and other factors, involved in the mining 
industry generally and the particular properties in which Allied has an 
interest, such as fluctuation in gold prices; uncertainties involved in 
interpreting drilling results and other tests; the uncertainty of financial 
projections and cost estimates; the possibility of cost overruns, accidents, 
strikes, delays and other problems in development projects, the uncertain 
availability of financing and uncertainties as to terms of any financings 
completed; uncertainties relating to environmental risks and government 
approvals, and possible political instability or changes in government policy in 
jurisdictions in which properties are located. Forward-looking statements are 
based on management's beliefs, opinions and estimates as of the date they are 
made, and no obligation is assumed to update forward-looking statements if these 
beliefs, opinions or estimates should change or to reflect other future 
developments. 
 
Not an offer of securities or solicitation of a proxy 
This communication is not a solicitation of a proxy from any security holder of 
Allied Gold, nor is this communication an offer to purchase or a solicitation to 
sell securities.  Any offer will be made only through an information circular or 
proxy statement or similar document.  Investors and security holders are 
strongly advised to read such document regarding the proposed business 
combination referred to in this communication, if and when such document is 
filed and becomes available, because it will contain important information.  Any 
such document would be filed by Allied Gold with the Australian Securities and 
Investments Commission, the Australian Stock Exchange and with the U.S. 
Securities and Exchange Commission (SEC). 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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