6th May 2009 10:25
For immediate release 6 May 2009
ALLIED GOLD LIMITED ("ALLIED" OR "THE COMPANY")
Clarification of matters reported in the Quarterly Report for the Quarter ended 31 March 2009
Further to the Quarterly Report for the Quarter ended 31 March 2009, as announced on AIM on 28 March 2009, Allied has made the following announcement on the Australian Stock Exchange. This details a change in the Company's classification under the ASX Listing Rules and further explains the Company's cash flows for the March 2009 quarter:
'Allied Gold Limited (Allied Gold) is issuing this announcement to clarify certain information reported in its Quarterly Report for the Quarter ended 31 March 2009 issued to the Australian Stock Exchange on 28 April 2009 (the Quarterly Report).
Effective from the March 2009 quarter, Allied Gold is no longer classified as an Exploration Entity and is not required to prepare a Mining Exploration Entity Quarterly Report in the format prescribed by Appendix 5B to the ASX Listing Rules.
To assist shareholders in better understanding Allied Gold's cash flow for the March 2009 quarter, a summary of cash flows for the March 2009 quarter and for the nine months ended 31 March 2009 is provided below:
|
March 2009 Quarter $A million |
Nine months ended 31 March 2009 $A million |
|
|
Net cash provided by operating activities |
9.6 |
25.4 |
|
Net cash used in investing activities |
(4.1) |
(17.9) |
|
Net cash provided by financing activities |
22.7 |
22.2 |
|
Net increase in cash and cash equivalents |
28.2 |
29.8 |
|
Cash and cash equivalents at the beginning of the period |
1.7 |
0.2 |
|
Cash and cash equivalents at the end of the quarter |
29.9 |
29.9 |
The reference on page 5 of the Quarterly Report to expenditure of A$18m for investing activities relates to the year to date investing activities. For clarity the March quarterly amount of investing activities was A$4.1m.
The above table illustrates the cash generation capability of ALD and its ability to sustainable fund its operational requirements from cash flows.'
For more information:
|
Mark Caruso Executive Chairman |
T:+61 7 3259 9725 |
|
Roland Cornish Beaumont Cornish Limited |
T: +44 (0) 20 7628 3396 |
Related Shares:
ALD.L