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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.

2012 production outlook

Update | Mining | 29/05/2012

Allied’s Q112 production results are a positive step towards realising 2012’s 180koz gold production target. In general, production was up (9.4% q-o-q) and gross cash costs were down (11% q-o-q). The completion of the works to expand the oxide plant to a 3.5Mtpa throughput (due Q312) and conversion from diesel to heavy fuel oil power (due mid-2012) should help bring production up and unit costs down further. We forecast ALD’s 2012 EPS potential at 46.3c (28.2p).

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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