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.

Looks a rather promising company,with gold in vogue plenty of interest as todays oversubscribed share issue confirms?

ALLIED GOLD LIMITED
("ALLIED" OR "THE COMPANY")


SUCCESSFUL PLACEMENT TO RAISE $30.75m
* Oversubscribed placement of 61.5 million shares to raise AUD$30.75 million
* Funds to be used for early debt retirement of original Simberi Project Financing
* Engineering firm to start 100,000ozpa Sulphide Expansion feasibility study
* Fast tracking of Oxide Plant optimisations to further reduce costs and enhance
throughput
* Simberi exploration program to be accelerated
* Operations continue to meet management forecasts with record monthly gold sales
in January 2009



The Board of Allied Gold is pleased to advise that it is finalising placement of
61,649,000 new Ordinary Shares at AUD$0.50 to raise approximately AUD$30.75M.
The placement, representing approximately 15% of the Company's shares on issue
prior to the placement will be made to sophisticated investors. The placement
falls within the company's 15% placement capacity as set out in ASX Listing Rule
7.1
Subscribers to the placement include many existing institutional shareholders,
predominately based in the UK, and two global institutional gold funds which are
new to the Allied Gold share register. Allied Gold continues to attract to its
share register high calibre institutional investors, reflecting continued
confidence in the quality of the underlying assets and management of the
company.
The 61,649,000 new Ordinary Shares will rank, pari passu, with all existing
ordinary shares, and trading of the Shares on AIM is expected to commence on 2
March 2009. This brings the total Ordinary Shares in issue to 472,643,276.


The placement was managed by Allied Gold in conjunction with Mirabaud Securities
in the UK and Evans and Partners in Australia. The placement was significantly
over subscribed, reflecting strong investor confidence in Allied Gold's Simberi
Gold Project and the positive outlook for the gold sector.
The proceeds of the placing will be used to fund several initiatives at Simberi,
as detailed in the December 2008 quarterly activities report, namely to:


* Early retirement of the original Simberi Oxide project financing debt facility.
* Accelerate the feasibility study for the Simberi Island sulphide expansion
initiative being considered by Allied Gold.
* Continue to accelerate the drilling program relating to the sulphide expansion
feasibility as well as other existing exploration programs with the purchase of
additional drilling rig equipment.
* Commence capital initiatives to optimise the gold production process and
throughput and reduce the operating costs of the operation.



Update on Operating Activities


Over the months of January and February Allied Gold has continued to produce
gold in line with the expected production profile. Gold sales in January
achieved a company record of 8,670oz sold during the month. All sales for
January were sold into the spot market realising in excess of A$1,200/oz.
Despite higher than average rain fall over the recent months, Allied Gold
continues to achieve targeted mining and processing volumes, and as at 24
February 2009 remains on track to achieve the projected production target
of 20,000oz for the March 2009 quarter. Cash cost projections for the current
quarter also remain in line with management's expectations, as reflected in the
December 2008 activity report.
Exploration updates are scheduled to occur during the March 2009 quarter. The
company expects to release its 31 December 2008 half year results no later than
13 March 2009.
The strengthening of the company's balance sheet by this capital raising
combined with a more consistent production base and near term organic growth
profile ideally positions the company to participate and grow through a variety
of avenues within the global gold sector.




Sulphide Feasibility Study:
Allied Gold is pleased to announce the appointment of GR Engineering Services to
undertake a feasibility study for the Simberi Sulphide Resource. Total Simberi
sulphide resources currently stand at more than 1.8M oz (Inferred, Indicated and
Measured).
The study will initially focus on developing high grade resources at Pigiput
Ridge. These resources, currently estimated at approximately at 485,000oz
Inferred sulphide resources and 294,000oz (Inferred and Indicated) oxide
resources comprise the highest grade sulphide resources identified at the
Project to date. Drilling is currently underway on this prospect with 2 drill
rigs with the aim of further increasing this resource.
The aim of the study is to deliver sulphide production of around 100,000oz per
annum. Pending a successful feasibility study outcome, Allied Gold aims to
commence gold production from sulphide resource by December 2011.
Combining the existing Oxide production profile of 80,000oz - 100,000oz p.a.
with the proposed Sulphide production profile would organically generate annual
production of around 180,000oz - 200,000oz p.a.
Management believes that leveraging off its existing Simberi infrastructure,
combined with its proven operational experience to date, significantly de-risks
its expansion initiatives.

cyril

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!