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Allied Gold Mining (ALD)

Business description

Allied Gold Mining is a gold explorer-producer. Its main assets are the Simberi Oxide Gold mine in Papua New Guinea and the Gold Ridge mine in the Solomon Islands.

220,000oz in sight

Outlook | Mining | 30/09/2011

Allied Gold Mining continues to ramp up oxide gold production at Simberi (c 65koz Au forecast for FY11) and Gold Ridge (c 40koz Au by end FY11). This, together with ALD’s focus to reduce operating costs (conversion to HFO power at Simberi is underway), provides a strong foundation on which to potentially develop Simberi’s large untapped sulphide gold resource and push group level production to c 320,000koz pa by 2015, successful execution of which is not yet reflected in the share price.

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Stock data

Market cap.£294.2m
Last close144.000p
High / Low (52 weeks)144.0p / 144.0p
Stock market listingLN, CN, AU
Forecast net cash (US$m)14.8
Forecast gearing ratio (%)N/A
TeamResources - Mining

Price performance

Relative *(1.3)(3.3)(2)

* % Relative to local index