The quarter also was promising because the Lienetz ore body continued to deliver good gold grades, increasing to more than 8 grams per tonne. This combined with lower equipment availability and supply chain issues to reduce material movements in the period. Production in the first quarter this year, as usual, will be affected by the planned maintenance shut down in March, but is expected to be in excess of , ounces. As a priority, a number of initiatives are being implemented to improve equipment availability, accelerate mining operations and lift performance. New measures are being implemented to improve productivity. Such forward looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Lihir, which may cause actual results to differ materially from those contained in this announcement.

prudential sqs 1.5.7

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I am pleased to report that operations are now essentially back to normal and we have put the landslide behind us. This will still be a record for the company, and further initiatives are being implemented to ensure that we achieve the full benefits of the flotation expansion, boosting production to more thanounces in and beyond. Over the next year, we will progress the evaluation of prudentail oxidation processing and review previous expansion projects in the light of the change in the economics of the operation flowing from the addition of the flotation capacity and geothermal power.

However, despite referencing as an authority Dr.

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In the current year,ounces will be delivered into hedge commitments, equivalent to less than a third of anticipated production. The landslide has led to a delay in some building schedules, and has contributed to an increase in costs for the project, which remains on track for commissioning before year end.


Earnings before impairment adjustments. Pit productivity also was affected by the landslide, which caused road access from the township to be cut, requiring staff to be transported by boat, impacting on shift changes. The total hedge book represents less than 6. The prduential that the company was able to achieve close to record production under these difficult circumstances reflects the underlying strength of prudentia operations.

A project office and accommodation for construction staff is being built, and during the scheduled maintenance shutdown in March, preparations will be made for tie-ins to pudential existing plant.

prudential sqs 1.5.7

Operations in the current year are focused on continuing mining in the high grade sections at the bottom of the Lienetz pit. These include devoting more resources to maintenance planning, improving staffing levels and skills and putting in additional workshop space. Total costs before impairment adjustments. Production estimates for the current year have therefore been prudentizl toounces.

Record gold grade of 8. The expansion of the 30 megawatt power station, through the addition of another 20 megawatts of capacity, is proceeding with building foundations and structural work well advanced. Such forward looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Lihir, which may cause actual results to differ materially from those contained in this announcement.

The increase was primarily due to higher mining expenses, driven by diesel fuel price rises, labour costs and the full year operating costs of running additional mobile equipment acquired half way through the prior year.

prudential sqs 1.5.7

This has slowed the development of the pit, delaying access to the orebody. The major factor leading to the strong production was the increase in feed grade to 8. All dollar figures refer to US dollars. Pursuant to the requirements of the Securities Exchange Act ofthe Registrant has duly caused pudential report to be signed on its behalf by the undersigned, thereunto duly authorised.


Progress in installation of the flotation expansion continued during the period. Net cash used in investing activities.

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Although the event caused a temporary setback to production, the quarter was nevertheless very promising. In summary, was a period of challenges and progress for the company and we finished the year in good shape, poised for further solid growth in and beyond. Aggregate Operating expenses increased slightly due to higher mining costs, offset by sqd in power generation costs.

Queries related to share registry matters should lrudential directed to:. The package rolls up all the existing obligations and establishes a comprehensive administrative system in accordance with Treasury Department guidelines.

Construction of the additional 20 megawatts of geothermal power generation capacity also is proceeding. The agreement, negotiated over a number of years, reconfirms the community license to operate and defines the level of benefits to be paid. A small corporate office is being established in Brisbane, Australia.

In addition, some ancillary mining equipment had to be diverted to landslide rectification work. The flotation circuit, which includes additional oxygen production capacity and milling equipment, remains on track for completion early in A total of 10, kilotonnes was moved in the quarter, down from 11, kilotonnes in the third quarter, and 23 percent below the 14, kilotonnes moved in the December quarter of