Surprised to see no comment hear.
It`s been promised for some time and now it has arrived, first Gold Pour.
Production to be ramped up with plenty more exploration to take place..
The drill will be red hot from now on.
Cheers.

Starting to like this company, here's some info,taken from another board.

Ive mentioned it before but Allied Gold (AGLD) still looks interesting IMHO. Currently 22.5p on LSE and 49.5c on ASX and its still only on a PER of 5.3. This is based on an average sale price of AU$1,160 and an average cost of AU$597 per oz producing 86k oz per year and adding on AU$10m for admin costs, etc. Assuming 411m shares in issue I calculate the EPS at 9 cents. However, that average sale price could be higher since they only have to deliver 7k oz in to their hedge this quarter at US$700 and are free to deliver c 13k oz straight to the market with the gold price currently at c AU$1,500.



Ive just seen that The Shares Magazine has Allied Gold down as a takeover target in an article on attractive companies . . .

http://www.sharesmagazine.com/node/5136

Target check list

An attractive valuation is probably the best starting point when trying to ascertain a potential bid target. To help investors, Shares has run a screen over the 3,200 companies on the Main Market and Aim to arrive at a list of 64 cheap potential targets as set out on page 16. These companies all share the following characteristics:

projected price/earnings ratio (PE) under 10
price/sales ratio under 1.0
price/book value of under 1.0
net cash

However, while valuation will indicate the right direction, there are other qualitative factors. Shares has analysed the deals announced over recent months and clear trends can be discerned. Targets have often had an existing large stakeholder (either as accumulating buyer or potential willing seller), are in a sector ripe for consolidation, or which has already seen deals, and possess a strong product or market position.

Taking into account valuation and the qualitative factors often behind a bid, Shares arrives at a list of 12 companies we believe are most likely to be taken out. This grouping looks to be investors best chance of bagging juicy bid premiums.

Market volatility could still thwart some executives expansionary ambitions and the fate of some potential M&A transactions clearly depends on whether the debt and equity markets can regain their nerves at some stage this year. After all, if private equity and trade buyers alike take the view stock markets are set to fall further they may hold off, anticipating cheaper prices. Yet as the frenzy of 2006 and 2007 showed, once deal-making activity heats up, it will do so rapidly, giving market punters another chance to pile in and cash out.

Allied Gold (AGLD:AIM) 19.8p

Market value: 81 million

There is simple a reason why the worlds largest gold producer, Barrick, is on the juniors share register. That is gold and lots of it. Barrick has a joint venture with Allied Gold on the Tabar Islands exploration properties in Papua New Guinea (PNG), a region well known for rich gold deposits. It took a 4.7% stake in Allied last March and pledged to invest up to A$20 million to get a 70% holding in the Tabar projects. Allied is a natural takeover target for Barrick. It is in production on the Simberi mine, only has a small amount of debt, and continues to find more gold. Barrick openly said late last year it wanted to tidy up joint ventures and buy out the best partners. It also said PNG was an important growth region for the group. It is surely just a matter of time before Barrick gets the paperwork sorted and makes a cash offer. (DC)

cyril

This one is worth a look with the price of gold about to rise above $1000.

Allied Gold lifts resources to 7.8 million ounces

Allied Gold Ltd is building up to a major gold producer in the Pacific region with an annual target output by 2011 of 200,000 ounces.
Author: Ross Louthean
Posted: Wednesday , 10 Mar 2010

PERTH - -

The resource inventory for Allied Gold (ASX: ALD, TSX: ALG & AIM: AGLD) has been lifted significantly with added measured to indicated resources on Simberi Island, part of the Tabar Island group north of the Papua New Guinea mainland.

Executive chairman Mark Caruso said that the objective this year was to have 3 million oz of reserves and 10 million oz of resources on the Tabar Islands and at Gold Ridge in the Solomon Islands.

Simberi Island has a measured to inferred resource of 156 million tonnes grading 1.13 grams/tonne for 5.89 million oz - representing a 170% increase in resources.

Gold Ridge has resources of 37.8 million t @ 1.74 g/t for 2.11 million oz gold.

Caruso said the recent upgrade of resources on the Pigibo and Pigiput deposits on Simberi had helped lift resources there by about 1.3 million oz.

He described the significant resources lift as "testament to the enormous upside of the geological address that we operate in."

"Hence, the position and rationale for the company's buyback of the Tabar and Tatau island (projects) from Barrick was based on regaining control of 100% of the highly prospective 270 square kilometres exploration tenure in the Tabar Islands.

The company also had 130 sq km of "largely unexplored ground" at Gold Ridge in the Solomon Islands which has not been actively explored since 1996, other than limited drilling at the mine site.

A new drilling programme will be undertaken on Gold Ridge in the first half of this year.

An updated reserve statement on company deposits is expected by the end of June.

http://www.mineweb.co.za/mineweb/view/mineweb/en/page34?oid=100685&sn=Detail&pid=1

Ah topinfo still trying to push them over here :-))

Breakout today from previous resistance.

rns says it all - lol.... this one just does the business quietly..... this also good news for solg! yeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

RNS Number : 5374C
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"



FIRST GOLD AT GOLD RIDGE (SOLOMON ISLANDS)

120,000 ozpa mine lifts Allied output to approx 200,000 ozpa





Allied Gold Limited is pleased to advise its 100%-owned 120,000ozpa Gold Ridge gold mine on Guadalcanal in the Solomon Islands has poured its first gold under Allied ownership.



First gold was achieved within a year of Allied taking control of the project and investing $150 million to refurbish and redevelop the mine.



Comment by Executive Chairman Mark Caruso: "This is a significant achievement for Allied Gold, for the dedicated construction and operating teams who have delivered the project on budget and ahead of time we extend our thanks to the Landowners and Government people of the Solomon Islands. This sends a very clear signal the Solomons is open for business and what can be achieved through co-operation and goodwill. We have taken the first steps at Gold Ridge, and much more needs to be achieved for the landowners and the country, but it is a start."



Allied Gold acquired Gold Ridge in 2009-10 through the takeover of Toronto-listed Australian Solomons Gold. Allied also operates the Simberi gold mine in Papua New Guinea. Simberi is currently being expanded to 100,000 ounces per annum.



Ramp up commissioning activities at Gold Ridge are expected to continue for a number of weeks.



Gold Ridge employs approximately 550 people in mining and operational roles with 85% drawn from the Solomon Islands. Allied is also meeting its commitments to relocate or re-house 1900 local people and one third of the way through a programme to build 300 houses.



Exploration activity in the 900-island chain of Solomon Islands has in recent years been modest. However, major gold producers such as Newmont have exploration programmes to the north-east of Gold Ridge and Allied will undertake regional exploration activity on Guadalcanal in 2011-112.



An official re-opening ceremony will be held at Gold Ridge in two weeks time with Solomon Island government representatives and community leaders.



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

An interesting article in the Times today, but no share movement. How odd!