Precious Metals

Mining Weekly reported that Allied Gold (ASX:ALD) reported a loss for 2011 despite increasing output last year.

Mining Weekly reported that Allied Gold (ASX:ALD) reported a loss for 2011 despite increasing output last year.

As quoted in the market news:

The loss was attributed to increased foreign exchange losses as well as reduced gains on financial transactions. Revenue for the year was up by 81%, driven by a 33% increase in the average realised price for gold, as well as a 55% increase in gold production, the miner said.

Click here to read the full Mining Weekly report.

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