Allied Gold Mining plc (ALD.L) reported Tuesday a loss of $4.9 million for the quarter ended December 31, 2011, compared to a profit of $8.9 million in the prior-year. Basic per-share loss this year was 2.48 cents, while last year's basic per-share earnings were 5.15 cents.
Revenue for the quarter surged to $45.0 million from $22.3 million a year ago, thanks to a jump in gold production to 31.2 thousand ounces from 2010's 18.9 thousand ounces. Gold sales were 25.9 thousand ounces this year and 16.6 thousand ounces in the previous year, and realized gold price also went up 24 percent to $1695 per ounce.
Looking ahead, the company backed its 2012 production target of 180 thousand ounces, with production in the March 2012 quarter estimated between 39 thousand ounces and 43 thousand ounces.
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