LGL Joins Ranks of 1 Million Ounce Producers
21 Enero 2010 - 5:15PM
Marketwired
Lihir Gold (TSX: LGG)(ASX: LGL)(NASDAQ: LIHR) -
Fourth Quarter 2009 - Group Overview
-- Annual gold production exceeded 1 million ozs for the first time in the
history of the company, rising 27% to a record 1.12 million ozs, in line
with market guidance.
-- Quarterly gold production of 278,000 ozs, up 19% compared to the
September quarter.
-- Record average realized cash gold price of $1,096/oz for the quarter and
$956/oz for the year.
-- Total cash costs at $397/oz for the full year, excluding Ballarat, in
line with market guidance and positioning the company at the lower end
of the global gold production cost curve. Quarterly total cash costs at
$454/oz, reduced from $487/oz in the prior September quarter.
-- Operating cash margins increased 42% to $460/oz for the year.
-- Expansion projects proceeding to plan:
-- Lihir Island Million Ounce Plant Upgrade proceeding on schedule and
within budget.
-- Bonikro expansion feasibility study due for completion by year-end.
Outlook
-- Operating capacity now raised to more than 1 million oz/pa, rising to
1.3 million ozs in 2012 as expansion projects lift output at Lihir
Island and at Bonikro.
-- Group production in 2010 forecast to be between 960,000 - 1,060,000 ozs
-- Total cash costs per ounce for 2010 to be below $450/oz, assuming stable
oil prices and exchange rates. Costs for Lihir Island and Bonikro to be
below $420/oz.
The Fourth Quarter Production Report is now available on the LGL
website at www.LGLgold.com.
A live webcast and conference call for analysts will commence at
9.30am AEDT (Syd / Melb time). For dial in details please contact
josie.brophy@lglgold.com.
If you wish to receive a PDF version of the production report
send an email to josie.brophy@lglgold.com
ARBN 069 803 998
Contacts: Lihir Gold Josie Brophy Corporate Communications
Manager +61 7 3318 3317 josie.brophy@LGLgold.com
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