Lihir Gold releases Quarterly Report
2008-10-28 07:29:00+10:00
Lihir Gold [ASX:LGL] has published it's Quarterly Report to the ASX. making a formal announcement entitled 'Presentation - Third Quarter Production Report' published on Tuesday 28 October 2008. The report begins ... Q3 2008 Production Report October 28, 2008 Mt Rawdon, Queensland Forward looking statements This presentation may contain certain forward-looking statements, including but not limited to (i) estimated reserves, (ii) anticipated production profiles and characteristics, (iii) expected capital requirements, (iv) forecast cost profiles or (iv) plans, strategies and objectives of management. ... Lihir Gold has issued similar announcements 28 times before, most recently about 0 minutes ago on Monday 26 May 2008. The share price for Lihir Gold was $1.570 trending up at the time of the announcement. [Notice Type: Company Reports - Quarterly]
2008-10-28 07:29:00+10:00
Lihir Gold [ASX:LGL] has published it's Quarterly Report to the ASX. making a formal announcement entitled 'Presentation - Third Quarter Production Report' published on Tuesday 28 October 2008. The report begins ... Q3 2008 Production Report October 28, 2008 Mt Rawdon, Queensland Forward looking statements This presentation may contain certain forward-looking statements, including but not limited to (i) estimated reserves, (ii) anticipated production profiles and characteristics, (iii) expected capital requirements, (iv) forecast cost profiles or (iv) plans, strategies and objectives of management. ... Lihir Gold has issued similar announcements 28 times before, most recently about 0 minutes ago on Monday 26 May 2008. The share price for Lihir Gold was $1.570 trending up at the time of the announcement. [Notice Type: Company Reports - Quarterly]
Presentation - Third Quarter Production Report
Tuesday 28 Oct 2008
Q3 2008 Production Report
October 28, 2008
Mt Rawdon, Queensland
Forward looking statements
This presentation may contain certain forward-looking statements, including but not limited to (i) estimated reserves, (ii) anticipated production profiles and characteristics, (iii) expected capital requirements, (iv) forecast cost profiles or (iv) plans, strategies and objectives of management. 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 Gold Limited (“LGL”), which may cause actual results to differ materially from those contained in this announcement. Important factors that could cause actual results to materially differ from the forward looking statements in this presentation include but are not limited to the market price of gold, anticipated ore grades, tonnage, recovery rates, production and equipment operating costs, the impact of foreign currency exchange rates on cost inputs and the activities of governmental authorities in Papua New Guinea and elsewhere, as set forth more fully under the caption “Risk Factors” in LGL’s most recent Annual Report on Form 20-F, which has been filed with the US Securities and Exchange Commission (“SEC”). Gold reserve and resource estimates are expressions of judgement based on knowledge, experience and industry practice, and may require revision based on actual production experience. Such estimates are necessarily imprecise and depend to some extent on statistical inferences and other assumptions, such as gold prices, cut-off grades and operating costs, which may prove to be inaccurate. LGL’s wholly owned subsidiary Ballarat Goldfields Pty Ltd does not have any ore reserves and the level of its estimated mineral resources and exploration potential are necessarily imprecise and may prove to be inaccurate. Accordingly, no assurance can be given that the indicated amount of gold will be recovered or at the rates estimated. LGL can therefore give no assurances that any of the estimates, production profiles, capital, cost profiles and plans will not materially differ from the statements contained in this release and their inclusion in this presentation should not be regarded as a representation by any person that they will be achieved. The foregoing material is a presentation of general background information about LGL’s activities as of the date of the presentation. It is information given in a summary form and does not purport to be complete. It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. These should be considered, with or without professional advice when deciding if an investment is appropriate. Some of the information contained in this presentation includes certain un-audited non-GAAP (where GAAP means “generally accepted accounting principles”) measures, such as “cash costs”. Such unaudited non-GAAP measures are intended to provide information about the cash generating capacity and performance of LGL’s mining operations. In particular, cash costs is a measure that is used in the gold mining industry and was developed in conjunction with gold mining companies associated with the Gold Institute in an effort to provide a level of comparability. However, LGL’s measures may not be comparable to similarly titled measures of other companies. Management uses this measure for the same purpose when monitoring and evaluating the performance of LGL. This information differs from measures of performance determined in accordance with GAAP and should not be considered in isolation or as a substitute for measures of performance determined in accordance with GAAP. This presentation is to be read in accordance with and subject to LGL's most recently filed updated reserves and resources statement available from LGL's website www.lglgold.com or on the company announcements page of the ASX www.asx.com.au. Canadian Investors – for further information in relation to the calculation of reserves and resources with respect to LGL’s operations, please refer to the Lihir Gold Limited (TSX:LGG) NI 43-101 Technical Reports available on SEDAR (www.sedar.com). Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. LGL uses certain terms on this website, such as “measured,” “indicated,” and “inferred” “resources,” which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in LGL’s most recent Form 20-F, which may be secured from LGL, or from the SEC’s website at http://www.sec.gov/edgar.shtml.
1
Group Highlights
Record quarterly gold production of 250,000 oz Strong production performance from cornerstone Lihir Island operation (216,000 oz) Significant production contribution from former Equigold assets – Mt Rawdon and Kirkalocka (32,000 oz) Ballarat development beginning to ramp up Bonikro first gold pour October 6 MOPU project on schedule and on budget Group total cash costs reduced to $412/oz
• •
•
• • • •
Record gold production
(Kozs)
226 193 182 168 157 127 113 139 177 250
Q2 06
Q3 06
Q4 06
Q1 07
Q2 07
Q3 07
Q4 07
Q1 08
Q2 08
Q3 08
2
Group gold production
(Kozs)
Lihir Island (216 kozs)
177 139
Q1 08
Q2 08
Q3 08
Group gold production
(Kozs)
Mt Rawdon (24 kozs)
Lihir Island (216 kozs)
177 139
Q1 08
Q2 08
Q3 08
3
Group gold production
(Kozs)
Kirkalocka (8 kozs) Mt Rawdon (24 kozs)
Lihir Island (216 kozs)
177 139
Q1 08
Q2 08
Q3 08
Group gold production
(Kozs)
250 Ballarat (2 kozs) Kirkalocka (8 kozs) Mt Rawdon (24 kozs)
Lihir Island (216 kozs)
177 139
Q1 08
Q2 08
Q3 08
4
Record mill throughput
Lihir Island (Mt)
1.6 9 1.6 1 1.52 1.2 8 1.17 1.0 4
Q2 0 7
Q3 0 7
Q4 0 7
Q1 0 8
Q2 0 8
Q3 0 8
Record a/c ...
Tuesday 28 Oct 2008
Q3 2008 Production Report
October 28, 2008
Mt Rawdon, Queensland
Forward looking statements
This presentation may contain certain forward-looking statements, including but not limited to (i) estimated reserves, (ii) anticipated production profiles and characteristics, (iii) expected capital requirements, (iv) forecast cost profiles or (iv) plans, strategies and objectives of management. 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 Gold Limited (“LGL”), which may cause actual results to differ materially from those contained in this announcement. Important factors that could cause actual results to materially differ from the forward looking statements in this presentation include but are not limited to the market price of gold, anticipated ore grades, tonnage, recovery rates, production and equipment operating costs, the impact of foreign currency exchange rates on cost inputs and the activities of governmental authorities in Papua New Guinea and elsewhere, as set forth more fully under the caption “Risk Factors” in LGL’s most recent Annual Report on Form 20-F, which has been filed with the US Securities and Exchange Commission (“SEC”). Gold reserve and resource estimates are expressions of judgement based on knowledge, experience and industry practice, and may require revision based on actual production experience. Such estimates are necessarily imprecise and depend to some extent on statistical inferences and other assumptions, such as gold prices, cut-off grades and operating costs, which may prove to be inaccurate. LGL’s wholly owned subsidiary Ballarat Goldfields Pty Ltd does not have any ore reserves and the level of its estimated mineral resources and exploration potential are necessarily imprecise and may prove to be inaccurate. Accordingly, no assurance can be given that the indicated amount of gold will be recovered or at the rates estimated. LGL can therefore give no assurances that any of the estimates, production profiles, capital, cost profiles and plans will not materially differ from the statements contained in this release and their inclusion in this presentation should not be regarded as a representation by any person that they will be achieved. The foregoing material is a presentation of general background information about LGL’s activities as of the date of the presentation. It is information given in a summary form and does not purport to be complete. It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. These should be considered, with or without professional advice when deciding if an investment is appropriate. Some of the information contained in this presentation includes certain un-audited non-GAAP (where GAAP means “generally accepted accounting principles”) measures, such as “cash costs”. Such unaudited non-GAAP measures are intended to provide information about the cash generating capacity and performance of LGL’s mining operations. In particular, cash costs is a measure that is used in the gold mining industry and was developed in conjunction with gold mining companies associated with the Gold Institute in an effort to provide a level of comparability. However, LGL’s measures may not be comparable to similarly titled measures of other companies. Management uses this measure for the same purpose when monitoring and evaluating the performance of LGL. This information differs from measures of performance determined in accordance with GAAP and should not be considered in isolation or as a substitute for measures of performance determined in accordance with GAAP. This presentation is to be read in accordance with and subject to LGL's most recently filed updated reserves and resources statement available from LGL's website www.lglgold.com or on the company announcements page of the ASX www.asx.com.au. Canadian Investors – for further information in relation to the calculation of reserves and resources with respect to LGL’s operations, please refer to the Lihir Gold Limited (TSX:LGG) NI 43-101 Technical Reports available on SEDAR (www.sedar.com). Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. LGL uses certain terms on this website, such as “measured,” “indicated,” and “inferred” “resources,” which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in LGL’s most recent Form 20-F, which may be secured from LGL, or from the SEC’s website at http://www.sec.gov/edgar.shtml.
1
Group Highlights
Record quarterly gold production of 250,000 oz Strong production performance from cornerstone Lihir Island operation (216,000 oz) Significant production contribution from former Equigold assets – Mt Rawdon and Kirkalocka (32,000 oz) Ballarat development beginning to ramp up Bonikro first gold pour October 6 MOPU project on schedule and on budget Group total cash costs reduced to $412/oz
• •
•
• • • •
Record gold production
(Kozs)
226 193 182 168 157 127 113 139 177 250
Q2 06
Q3 06
Q4 06
Q1 07
Q2 07
Q3 07
Q4 07
Q1 08
Q2 08
Q3 08
2
Group gold production
(Kozs)
Lihir Island (216 kozs)
177 139
Q1 08
Q2 08
Q3 08
Group gold production
(Kozs)
Mt Rawdon (24 kozs)
Lihir Island (216 kozs)
177 139
Q1 08
Q2 08
Q3 08
3
Group gold production
(Kozs)
Kirkalocka (8 kozs) Mt Rawdon (24 kozs)
Lihir Island (216 kozs)
177 139
Q1 08
Q2 08
Q3 08
Group gold production
(Kozs)
250 Ballarat (2 kozs) Kirkalocka (8 kozs) Mt Rawdon (24 kozs)
Lihir Island (216 kozs)
177 139
Q1 08
Q2 08
Q3 08
4
Record mill throughput
Lihir Island (Mt)
1.6 9 1.6 1 1.52 1.2 8 1.17 1.0 4
Q2 0 7
Q3 0 7
Q4 0 7
Q1 0 8
Q2 0 8
Q3 0 8
Record a/c ...
