Executive Summary
Allied Gold (LON:AGLD) is a gold exploration and production company that is based in Australia, with interests in Papua New Guinea. It owns the Simberi mine in the Tabar Islands, and explores for gold and other mineral resources in the Tatau and Big Tabar Islands. The company is publicly listed on both the ASX and theLondon Stock Exchange.
Company History
- 2003: Allied Gold acquired Nord Pacific, obtaining 100% ownership of the Simberi Oxide project
- 2005: Feasibility study updated to include higher reserves and to investigate a higher process plant throughput
- 2006: The company submitted proposals to process at a higher rate of 2Mtpa and to deliver ore from the remote pits and reserves estimate was increased to 785,000 ounces of gold
- 2008: First gold is poured
- 2009: The company's resources increased to 4.7m ounces and it encountered significant resources at the Pigibo prospect
Current Events
The company has recently made the following announcements.
- June 2009: the company reported a big increase in gold ore reserves at Simberi Gold Mine from 437,000 oz to 1m oz. [1]
- July 2009: the company reported more significant gold intercepts at Pigibo prospect, Papua New Guinea [2]
- September 2009: the company announced the take-over of Australian Solomon Gold, creating a company with 2.2m oz of reserves. [3] It also announced encouraging assays at the Pigiput & Pigibo gold prospects which, are a central part of the ML136 mining lease, which forms part of the Tabar Island Gold Project, Simberi Island. [4]
Business Model
Allied Gold's approach is based on the following central platforms:
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Identification of underdeveloped assets with embedded long-term value;
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Adoption of a self sustaining approach to activities such as logistics and supply chain management
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Encouragement of innovative solutions;
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A focus on outcomes.
Products/Services
The company is involved in the exploration for, mining of minerals, ores and metals, with a primary focus on the production of gold.
Segments/Customers
The company distributes products to both wholesale and retail customers.
Production/Operations
The company is involved in projects including Simberi ML136, the Tabar Island Gold Project, and Tatau and Big Tabar EL609. It produced 80,000 ounces of gold in 2008/09 and estimates that the company will produce 100,000 in 2009/10. It intends to significantly increase production to…
