SOURCE: Allied Gold Mining PLC

January 24, 2012 07:00 ET

Activities report for December quarter 2011

QUEENSLAND, AUSTRALIA--(Marketwire - Jan 24, 2012) -




24 January 2012



            ACTIVITIES REPORT FOR DECEMBER QUARTER 2011

   * Group production for 3 months (31,181 ounces) and 12 months
                           (108,338 ounces)

   * Guidance of 180,000 ounces pa production in 2012 reaffirmed



Allied Gold Mining Plc ("Allied" or "the Company") provides the
following summary and overview of its activities for the quarter ended
31 December 2011.



Production Summary Simberi, Papua New Guinea

* Production for the 3 months - 12,387 oz at Gross cash cost
  of US$1108/oz

* Production for the 12 months - 57,284 oz at Gross cash cost
  of US$979/oz

* Targeting 16,000oz to 18,000oz in March 2012 quarter and
  75,000oz in 2012



Production Summary Gold Ridge, Solomon Islands

* Production for the 3 months - 18,794 oz at Gross cash cost
  of US$1319/oz

* Production for the 12 months - 51,054 oz at Gross cash cost
  of US$1224/oz

* Targeting 23,000oz to 25,000oz in March 2012 quarter and
  105,000oz in 2012



Financial Highlights

* Average realized gold price of US$1,695 per ounce, up 24%
  year on year

* EBITDA of US$9.1 m for the December quarter

* Operational cash flow of US$23.5 million

* Cash at bank of US$21 million at 31 December 2011

* On 5 January 2012, US$80 million gold loan used to repay
  US$55m in borrowings



Corporate

* Johan Oelofse appointed as Chief Operations Officer

* Allied shares admitted to FTSE 250 Index and the MCSI UK
  Small Cap index

* Allied shares admitted to the S&P/ASX 300 Index in
  Australia



To view the full press release including graphs please download the
following pdf

 http://www.rns-pdf.londonstockexchange.com/rns/0604W_-2012-1-24.pdf 





For further information please contact:

Allied Gold Mining Plc (Investor and Media)
- Simon Jemison,                                  +61 418 853 922

RBC Capital Markets (Corporate Brokers)
- Stephen Foss / Matthew Coakes
/ Daniel Conti                                +44 (0)20 7653 4000

Oriel Securities (Joint Corporate Broker)
- Jonathan Walker / Michael Shaw              +44 (0)20 7710 7600

Buchanan (Financial PR Advisor) 
- Bobby Morse / James Strong /
Cornelia Browne                               +44 (0)20 7466 5000

                    This information is provided by RNS
          The company news service from the London Stock Exchange

END

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