Simberi (PNG) Update (6076C)
09 3월 2011 - 6:47PM
UK Regulatory
TIDMAGLD
RNS Number : 6076C
Allied Gold Limited
09 March 2011
FOR IMMEDIATE RELEASE 9 March 2011
allied gold limited
("the Company")
"This press release is not for dissemination in the USA and
shall not be disseminated to USA news services"
SIMBERI (PNG) UPDATE
Tank repairs near completion, PNG department to review
Allied Gold Limited expects to complete repair works on the
tailing mixing tank late today at Simberi, Papua New Guinea.
Repair work on the worn tailings mixing tank, which is located
on shore approximately 150 meters from the processing plant has
progressed well and will be completed by no later than Friday.
The PNG department of Environment and Conservation (DEC) is
expected to visit Friday following on from their visit of last week
to review the site and repairs.
Contrary to PNG media reports of offshore impacts to the marine
environment, the Company is aware of no such impacts. The mine
ceased processing ore immediately when the incident occurred and as
a result has not been producing waste tailings.
For more details, please contact:
Simon Jemison Investor Relations & Media +61 418 853 922
Rebecca Greco Investor Relations, North America +1 416 839
8610
David Simonson c/. Merlin PR +44 20 7726 8400
Beaumont Cornish Limited
Roland Cornish
Beaumont Cornish Limited
T: +44 (0) 20 7628 3396
ABOUT ALLIED GOLD
Allied Gold is an emerging 200,000 ounce per annum gold producer
with production and exploration assets in Papua New Guinea and the
Solomon Islands approximately 3 hours by plane from Brisbane,
Australia. The company's 100%-owned Simberi gold mine is 85
kilometres from Lihir Island in the Tabar Islands group in Papua
New Guinea. Simberi commenced gold production in 2008, produced
64,000 ounces in 2009-10 and its process plant is being expanded to
a throughput of 3.5 Mtpa to produce 100,000 ounces per annum by
late 2011. Allied Gold acquired Gold Ridge in the Solomon Islands
in late 2009 when it acquired Toronto-listed Australian Solomons
Gold. Allied has invested $150 million to refurbish and redevelop
Gold Ridge which is expected to produce an average 120,000 ounces
per annum for a minimum ten years. Allied Gold Limited is listed on
the ASX, TSX and the London AIM exchanges.
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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