Allied lowers production estimate

Allied Gold Mining yesterday reduced its full year production guidance to between 160,000 and 165,000 ounces down from 180,000 ounces previously. The reduction follows unscheduled maintenance at both Simberi and Gold Ridge. The company produced a total of 31,447 ounces in the three months to the end of June. In the six months to June, it achieved 36 per cent of the gold production target that it had forecasted.