LGL's (Lihir Gold Ltd) Second Quarter 2008 Production Report
Posted on: Wednesday, 30 July 2008, 09:01 CDT
Lihir Gold Ltd (TSX: LGG)(ASX: LGL)(NASDAQ: LIHR) ("LGL") is pleased to announce the release of its quarterly production results for the period ended June 30, 2008. The Second Quarter Production Report and management presentation are available on the Company's website www.LGLgold.com and will be available on SEDAR shortly at www.sedar.com.
Highlights of the quarterly production result include:
Group Overview
- Group gold production for the quarter was 177,000 oz, up 27% on the previous quarter, taking production to 316,000 oz for the half-year.
- Merger with Equigold NL completed, providing significant diversification benefits and exciting growth potential.
Operational Summary
Lihir Island
- Record quarterly mill throughput of 1.6 million tonnes.
- Gold production of 170 koz.
- Cash costs at $417/oz, below industry averages.
Ballarat
- Record development of 1,373 metres for the quarter.
- Pre-production gold produced, 614 oz.
Mt Rawdon
- Gold production of 27 koz with 5,088 oz attributable to merged entity.
Kirkalocka
- Gold production of 12 koz with 1,716 oz attributable to merged entity
Ivory Coast
- Bonikro construction nearing completion.
- Excellent drilling results received from the Hire permit area.
Outlook
- Group production in 2008 is expected to be over 850,000 oz, in line with previous guidance.
- Total cash costs per ounce for the full year expected to be less than $400/oz from Lihir Island.
- Full plant commissioning to commence in August at Bonikro.
- Ballarat to commence commercial production by year end.
Contacts: Lihir Gold Ltd - Brisbane, Australia Joel Forwood Manager Investor Relations +61 7 3318 3331 or Mobile: +61 438 576 879 Email: joel.forwood@LGLgold.com Website: www.LGLgold.com Lihir Gold Ltd - Toronto, Canada Greg W Taylor (905) 337-7673 Email: gtaylor@g-tinvestorrelations.com
SOURCE: Lihir Gold Limited
Source: MARKET WIRE
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