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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: E. Charters who wrote (14165)	6/23/2006 3:17:22 AM
From: maceng2	Read Replies (1) \| Respond to of 78415

Been reading about your various schemes for making money on the stock market. How about cashing in on disasters, just after the panic has really set in? theage.com.au Shares in junior explorer Allied Gold have tumbled by more than 20 per cent after flagging a cost increase at its flagship project in Papua New Guinea. Allied warned the market an updated estimate of the cost of developing the gold mine would be higher than expected. "Whilst this work is not yet complete the company is in a position to advise that it expects there will be an increase in the estimated capital cost," Allied said. "The magnitude of the increase and its effect on the project economics are not yet known." Shares in Allied fell 10 cents or 20.6 per cent to 38.5 cents at 1316 AEST. The Perth-based company said the complete re-estimation of development costs would take two months. An estimate in March indicated a mine producing 75,000 ounces of gold a year would cost $US43.7 million ($A59.64 million) to construct. In April the company secured a $US25 million ($A34.12 million) loan with RMB Resources Ltd, completing the financing package for the project. It has also raised more than $50 million to take the project through to commissioning in the first half of 2007. © 2006 AAP