23rd Jun 2006 11:52
Allied Gold Limited23 June 2006 FOR IMMEDIATE RELEASE 23 June 2006 ALLIED GOLD LIMITED ("Allied Gold" or the "Company") SIMBERI OXIDE PROJECT FURTHER UPDATE Further to the announcement made yesterday in relation to the Simberi OxideProject, the Company advises that completion of the revised capital andoperating cost estimates, revised mine design and mining schedule and therevision of the project financial model is estimated to take 2 months. For enquiries in connection with this release please contact: Wayne Loxton Managing Director Allied Gold Limited +61 8 9353 3638 phone +61 8 9353 4894 fax [email protected] e-mail Forward-Looking Statements. This press release contains forward-looking statements concerning the projectsowned by Allied. Statements concerning mineral reserves and resources may alsobe deemed to be forward-looking statements in that they involve estimates, basedon certain assumptions, of the mineralisation that will be found if and when adeposit is developed and mined. Forward-looking statements are not statements ofhistorical fact, and actual events or results may differ materially from thosedescribed in the forward-looking statements, as the result of a variety ofrisks, uncertainties and other factors, involved in the mining industrygenerally and the particular properties in which Allied has an interest, such asfluctuation in gold prices; uncertainties involved in interpreting drillingresults and other tests; the uncertainty of financial projections and costestimates; the possibility of cost overruns, accidents, strikes, delays andother problems in development projects, the uncertain availability of financingand uncertainties as to terms of any financings completed; uncertaintiesrelating to environmental risks and government approvals, and possible politicalinstability or changes in government policy in jurisdictions in which propertiesare located. Forward-looking statements are based on management's beliefs, opinions andestimates as of the date they are made, and no obligation is assumed to updateforward-looking statements if these beliefs, opinions or estimates should changeor to reflect other future developments. Not an offer of securities or solicitation of a proxy. This communication is not a solicitation of a proxy from any security holder ofAllied, nor is this communication an offer to purchase nor a solicitation tosell securities. Any offer will be made only through an information circular orproxy statement or similar document. Investors and security holders are stronglyadvised to read such document regarding the proposed business combinationreferred to in this communication, if and when such document is filed andbecomes available, because it will contain important information. Any suchdocument would be filed by Allied with the Australian Securities and InvestmentsCommission, the Australian Stock Exchange and with the U.S. Securities andExchange Commission (SEC). "This press release is not for dissemination in the United States and shall notbe disseminated to United States news services" This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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