Allied Gold amends accusation against GRES
Allied Gold Mining has made a slightly red-faced apology to the Managing Director of GR Engineering Services (GRES) after making allegations against him rather than simply the company in a statement released on August 2nd.
Allied Gold Mining has made a slightly red-faced apology to the Managing Director of GR Engineering Services (GRES) after making allegations against him rather than simply the company in a statement released on August 2nd.
In the statement Allied said its wholly-owned subsidiary, Gold Ridge Mining, was making a claim for $47m that included "$1.15m on account of false and misleading statements by the GRES managing director".
Allied Gold has now apologised to director and co-founder Joseph Ricciardo and "clarifies that the allegations are made against GRES, and not its Managing Director".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The claim was for, amongst other things, loss of gold production.
The share price was also looking rather red, down 1.99% at 135.75p by 11:38.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
1,000 children hold over £100,000 in a junior ISA – how to grow tax-free nest egg for your child
Junior ISAs can be a tax-efficient way to grow a nest egg for your child. We explain how they work
-
How to start investing: a beginner’s guide
Getting started in investing is a great way to make your money work harder for you over the long term, as investments tend to outperform cash savings