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Australian Solomons Gold 100% Owned Subsidiary of Allied Gold
Mar. 05, 2010 04:31PM PST
Gold InvestingAllied Gold Limited ABN 86 104 855 067 (TSX:ALG)(ASX:ALD)(AIM:AGLD) reported that the company has compulsory acquisition of the remaining shares in Australian Solomons Gold Limited not already owned by it, pursuant to the Notice of Compulsory Acquisition Following Takeover Bid lodged with the Australian Securities & Investments Commission on January 13, 2010.Accordingly, ASG is now a wholly-owned subsidiary of ALD.
Allied Gold Limited ABN 86 104 855 067 (TSX:ALG)(ASX:ALD)(AIM:AGLD) reported that the company has compulsory acquisition of the remaining shares in Australian Solomons Gold Limited not already owned by it, pursuant to the Notice of Compulsory Acquisition Following Takeover Bid lodged with the Australian Securities & Investments Commission on January 13, 2010.Accordingly, ASG is now a wholly-owned subsidiary of ALD.
The press release is quoted as saying:
The Simberi gold mine (60km from Lihir Island) has produced 150,000 ounces since production commenced in February 2008. Production in 2010 is expected to be approx 75,000-80,000 ounces, with an expansion later in the year to lift Simberi plant throughput from 2Mtpa to 3Mtpa and gold output towards 100,000 ozpa.
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