AGLD Allied Gold

 

TIDMAGLD 
 
RNS Number : 9446E 
Allied Gold Limited 
04 January 2010 
 

FOR IMMEDIATE RELEASE 4 January 2010 
 
 
allied gold limited 
 
 
("Allied", "Allied Gold" or "the Company") 
 
 
Allied Gold Resumes Full Production 
Allied Gold is pleased to announce that the Cease Work Order (Order) referred to 
in its previous press release has been lifted and has returned to full 
production on 4 January 2010. The Company had also maintained a self-imposed 
temporary halt to operations due to a minority of landowners staging an illegal 
protest via the placing of a cultural gorgor that symbolizes a stop work 
process. The removal of the gorgor has been equally resolved and production has 
been fully restored. 
The Company received the full support of the respective PNG Mining regulators 
and associated bodies during the landowner operational standstill. A formal 
delegation from the Mineral Resources Authority (MRA), lead by the Acting 
Managing Director Mr.Philip Samar travelled to site and were directly involved 
in the various processes. 
The Company continues to abide by its legal obligations and is not in breach of 
any permits, land owner agreements or any other legal arrangements relating to 
the good standing of any mining activities on Simberi Island. Despite the 
illegal protest, the Company has remained respectful of the minority dissidents 
on Simberi and continues to engage in a consultative and collaborative dialogue 
with all stakeholders. 
Executive Chairman Mark Caruso stated "PNG is going through a significant 
transformation with many large scale infrastructure and mining projects on the 
nation's horizon. A broader education program is required surrounding the 
nations accelerated growth profile by Government involving landowners to ensure 
all stakeholders expectations do not become non-commercial or operationally 
inhibitive thereby depriving the broader landowners and population of a stable 
royalty and social development framework. 
Allied Gold has earmarked a further A$200M for investment in PNG over the coming 
three years. Nonetheless, this is a fraction of the total being invested within 
PNG via various other multi-national multibillion dollar projects over the next 
1 - 4 years." 
Mark Caruso further added "Importantly it is investor confidence in the PNG 
regulatory framework which remains the cornerstone of this massive investment of 
capital into PNG. We have seen other countries in the region suffer from a loss 
of investor confidence and the impact this has on a nations ability to sustain 
growth. I have no doubt that maintaining investor confidence in PNG is one of 
the main priorities the Government and regulators maintain. 
PNG has a history of fully recognizing mining tenure and the rule of law.  The 
company is optimistic that these type of illegal actions are not of a recurring 
nature and is confident it will continue to receive the support of PNG Mining 
regulators and various law enforcement representatives in these matters whilst 
ensuring Allied Gold's legal rights to operate are enforced. 
From a personal perspective it is disappointing that the stoppage in production 
has occurred as the Company was on track for a record quarter of production. The 
recent stoppage has deferred at least 3,000oz of production and as at 21 
December 2009 we had produced approximately 17,800oz of gold for the December 
quarter. 
 The Company is fully funded and remains on track to deliver a significant 
increase in its production profile to in excess of 300,000 ozs by 2012 through 
its organic growth expansion in PNG and the redevelopment of the Gold Ridge 
project in the Solomon Islands." 
 
 
For further information, contact: 
 
 
Allied Gold Limited 
Mark Caruso 
Executive Chairman 
T:+61 8 93533638 
 
 
Frank Terranova 
Chief Financial Officer 
T: +61 7 3252 5911 
M: +61 448 187 557 
E: fterranova@alliedgold.com.au 
 
 
Peter Torre 
Company Secretary 
T: +61 8 9287 4604 
E: peter@torrecorporate.com.au 
 
 
Beaumont Cornish Limited 
 
 
Roland Cornish 
Beaumont Cornish Limited 
T: +44 (0) 20 7628 3396 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCLIFVALRISIII 
 

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