Activities Report Update
10.05.2012 | Marketwired
QUEENSLAND, AUSTRALIA -- (Marketwire) -- 05/10/12 --
THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR
PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR
INTO THE UNITED STATES OR ANY JURISDICTION IN WHICH SUCH PUBLICATION
RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL
Allied Gold Mining PLC ("Allied Gold" or "the Company")
10 May 2012
ADDENDUM TO ACTIVITIES REPORT
FOR MARCH QUARTER (Q1) 2012 AND ANNUAL REPORT FOR THE YEAR ENDED 31
DECEMBER 2011
Following a review by the Australian Securities Exchange (ASX) of the
Quarterly Activities Report for the March Quarter 2012 and the Annual
Report for the year ended 31 December 2011, the ASX has requested that
the Company issue this Addendum to those documents to clarify the below
matters:
Quarterly Report for the March Quarter 2012
The Quarterly Report contained a quote from Mr Frank Terranova the
Managing Director and Chief Executive Officer of Allied, which advised
that the Company has over 3.0Moz reserves and 8.0moz resources. This
statement should be read with reference to the following Reserves and
Resource Table:
Simberi Gold Ridge
Mineral Reserves Au Mineral Reserves Au
as at 31 December Mt g/t Moz as at December Mt g/t Moz
2011 2011
Proven 10.55 1.06 0.36 Proven - - -
Probable 31.91 1.63 1.67 Probable 20.29 1.73 1.13
Total Reserves 42.45 1.49 2.03 Total Reserves 20.29 1.73 1.13
Simberi Gold Ridge
Mineral Resources Mineral Resources
as At Au as At Au
31 December 2011 Mt g/t Moz 31 December 2011 Mt g/t Moz
Measured 9.58 1.11 0.34 Measured 7.33 1.54 0.36
Indicated 72.73 1.28 2.99 Indicated 38.06 1.22 1.49
Measured & 82.32 1.26 3.33 Measured & 45.39 1.27 1.85
Indicated Indicated
Inferred 101.58 0.97 3.18 Inferred 15.15 1.28 0.62
Resources are reported at a block cut-off grade of 0.5 g/t Au.
The above table is consistent with the table included in the Annual
Report for the year ended 31 December 2011, which has recently been
issued by the Company.
Annual Report
The Corporate Governance Statement contained within the Company's
annual report for the period ended 31 December 2011 reported that the
Company did not presently have a diversity policy. The Company did
however state in the Corporate Governance Statement as follows:"The Group
employs a broad mix of individuals reflecting its philosophy
of hiring the best candidate for all positions at all levels
irrespective of race, religion or gender. In terms of the composition
of the Board and Board nominations, the Remuneration and Nomination
Committee regularly reviews the composition of the Board and will
consider the requirements of the Davies Report and the Australian Stock
Exchange Principles as part of the process of determining the
composition of the Board that is the most appropriate for the group"
A Diversity Policy had not been formalized during the year as the
Company was still in the process of reviewing and ensuring that various
stakeholder groups across all jurisdictions, namely Papua New Guinea,
the Solomon Islands, Australia, The United Kingdom and Canada are
considered in preparing such a policy. Whilst a formal policy was not
in place, the Company operated in accordance with the philosophy stated
above and in the Corporate Governance Statement.
For further information please contact:
Allied Gold Mining Plc (Investor and Media) - Joe Dowling, GM Investor
Relations and Communications
+61 403 369 232
RBC Capital Markets (Corporate Broker) - Stephen Foss / Matthew Coakes
/ Daniel Conti
+44 207 653 4000
Buchanan (Financial PR Advisor) - Bobby Morse / James Strong / Cornelia
Browne +44 207 466 5000
Competent Person
The information in this announcement that relates to Mineral Resources,
Project Financial modelling, Mining, Exploration and Metallurgical
results, together with any related assessments and interpretations, has
been approved for release by Mr C R Hastings, MSc, BSc, M.Aus.I.M.M., a
qualified geologist and full-time employee of the Company. Mr Hastings
has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the
activity which he is undertaking to qualify as a Competent Person as
defined in the 2004 Edition of the "Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves". Mr Hastings
consents to the inclusion of the information contained in this release
in the form and context in which it appears.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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