On the ALD website, the company has placed a media report claiming that...
"Avocet should produce 178,000 ounces of gold this financial year. The company wants to expand its Penjom mine in Malaysia and North Lanut in Indonesia; and the Bakan project should start production in 2009.
It believes an acquisition, funded from a $100 million cash pile, could potentially advance group gold output to 300,000 ounces per year.
Henry told Shares that a short list of targets had been drawn up, including Philippines-based Medusa, and that Avocet had 'initiated the process' with each [10] business.
He said Avocet would focus on south east Asia for acquisition targets. Aside from Medusa, Allied Gold (AGLD:AIM) is the only UK quoted gold producer in the region and is the right size for Avocet needs."
...an interesting piece for Allied Gold, themselves, to promote and give credibility to!!!!!!!!!!!!!!!!!
ALD Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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