Completion of acquisition of ASG

 

TIDMAGLD 
 
RNS Number : 0778I 
Allied Gold Limited 
04 March 2010 
 

 
FOR IMMEDIATE RELEASE 
      4 March 2010 
 
                              Allied Gold limited 
 
                   ("Allied", "Allied Gold" or "the Company") 
 
Completion of Compulsory Acquisition of Shares in Australian Solomons Gold 
Limited 
 Australian Solomons Gold Now a Wholly Owned Subsidiary of Allied 
Gold Limited 
 
Allied Gold Limited ABN 86 104 855 067 ("Allied Gold" or the "Company") 
(TSX:ALG; ASX:ALD; AIM:AGLD) has completed the compulsory acquisition of the 
remaining shares in Australian Solomons Gold Limited (ASG) not already owned by 
it, pursuant to the Notice of Compulsory Acquisition Following Takeover Bid 
lodged with the Australian Securities & Investments Commission on 13 January 
2010. 
 
Accordingly, ASG is now a wholly-owned subsidiary of ALD. 
 
About Allied Gold: The Simberi gold mine (60km from Lihir Island) has produced 
150,000 ounces since production commenced in February 2008.  Production in 2010 
is expected to be approx 75,000-80,000 ounces, with an expansion later in the 
year to lift Simberi plant throughput from 2Mtpa to 3Mtpa and gold output 
towards 100,000 ozpa.  The 100,000 ozpa Simberi sulphide project feasibility 
study is expected during 2011.   Allied Gold acquired the Gold Ridge project in 
the Solomons Island in late 2009 and pre-development works are currently 
underway, with production of 120,000 ozpa expected in FY2012. 
 
 
For more information: 
+----------------------------------+--------------------------+ 
| Mark Caruso                      | T:[phone]       | 
| Executive Chairman               |                          | 
|                                  |                          | 
+----------------------------------+--------------------------+ 
| Roland Cornish                   | T: [phone]  | 
| Beaumont Cornish Limited         |                          | 
+----------------------------------+--------------------------+ 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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