7th Jan 2008 10:35
Allied Gold Limited07 January 2008 Allied Gold Limited For immediate release7 January 2008 Allied Gold Limited ("Allied Gold" or the "Company") Placement of Shares & Update on Gold Production The Board of Allied Gold announces it has completed a placement of 14,621,844new Ordinary Shares at AUD$0.72 to raise approximately AUD$10,500,000 beforeexpenses. The placement, representing approximately 4.27% of the shares in issue prior tothe placement, has been made to institutional clients of UK based MirabaudSecurities Limited and falls within the company's 15% placement capacity as setout in ASX Listing Rule 7.1. The placement was undertaken as an alternative to drawing down the finalinstalment under the Company's Finance Facility with RMB and Macquarie Bank. TheBoard considered the terms of the placement were more favourable than the variedterms presented by RMB and Macquarie Bank. The new Ordinary Shares, which will rank pari passu with the existing OrdinaryShares, have been issued and trading on AIM and the ASX is expected to commenceon 8 January 2007. COMMENCEMENT OF GOLD PRODUCTION The first stage of the CIL gold plant at the Company's 100% owned Simberi OxideGold Project is currently undergoing final stages of commissioning. Ore iscurrently being delivered by truck to the run-of-mine (ROM) stockpile area fromthe Samat deposits and the first gold pour from this ore is expected this month. ENDS For further information, please contact:Mark Caruso Tel: +61 893533638Managing DirectorRoland Cornish Tel: 0207 628 3396Beaumont Cornish Limited Rory Scott Tel: 0207 321 2508Mirabaud Securities This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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