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Allied Gold - US$48m cash underpins recovery

December 2011

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • AGLD
  • Price:
  • 157p
Allied Gold's results for the three months to 30 September showed profit after tax of US$3.8m, compared with a loss of US$4.6m the previous quarter. Cash balances as at 30 September were US$48.5m. Q3 production was 36,000 oz (Q2: 28,344 oz) with the Simberi mine (Papua New Guinea) producing 15,900 oz, which was lower than expected due to several weeks of prolonged wet weather followed by one-off maintenance costs associated with its ball mill. Lower production has meant costs rose to US$1,064 / oz, compared with US$850 in 2010. Although Q4 guidance has been reduced to between 12-14,000 oz, management expect it to recover to a normal quarterly run ra ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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