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Business Description: Allied Gold Mining PLC (ALD, formerly Allied Gold Limited) is a gold producer, developer and exploration Company whose shares are listed on the London Stock Exchange Main Market, Toronto Stock Exchange and the Australian Securities Exchange. ALD’s major assets are its 100% owned Simberi gold project in Papua New Guinea and its 100% interest in the Gold Ridge Gold Project in the Solomon Islands.
Strategy Analysis: ALD is nearing the completion of closing its hedge book which will allow the company to receive spot price for gold. Going forward, ALD will need to focus on avoiding mechanical shutdowns it experienced in 2010, particularly if unseasonal rainfall continues to impact production schedules. Renewed exploration programs are planned for Tabar and Tatau Islands. Given the company has established itself in Papua New Guinea, it is well positioned to investigate and pursue other opportunities that exist. ALD will be looking towards organic growth as well as M & A growth opportunities, having taken control of Australian Solomons Gold Ltd in November 2009.
Allied Gold Mining announced that it produced 31,181oz in the three months to 31 December 2011, in line with its previous quarterly guidance, and 108,338oz in calendar year 2011.
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