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Allied Gold

September 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.

Amidst the backdrop of gold hitting a new high of nearly US$1,900 / oz, this should have been an auspicious moment for Allied Gold to join the Main Market but the shares, post their one-for-six consolidation, have been subdued. This may be explained partly by the issue of new shares in April, which raised US$92m to fund the expansion of its Simberi mine in Papau New Guinea, to restructure debt and to provide working capital but it may also reflect the recent operational problems at Simberi. The latter meant that although group production increased 25% in H1 to 41,072 oz it suffered a loss of US$3.1m for the six months to 30 June. Total cash balances at the period end were US$83m while borrowings were US$59m.At Simberi produ ...

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Craneware - New contract wins

Abcam - Results slightly ahead of expectations

Aldermore - Cost to income ratio improves to 45% (October 2016)

Aldermore - Shares dirt cheap on prospective PE of 7.7 (April 2016)

Aldermore - Fast growing challenger bank on dirt cheap prospective PE of 6.7 (March 2016)

Aldermore - NIMâ€ˆjumps from 3.3% to 3.6% (October 2015)

Aldermore - Fast growing challenger bank filling gap in lending market (May 2015)

Allied Gold (March 2012)

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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