Lihir Gold digs profit in PNG

Lihir Gold performed strongly with a 130 per cent rise in half year underlying profit to $154.9 million.

The strong results reflect a continued performance at the cornerstone asset of Lihir Island in PNG, which produced a record 466,000 ounces for the half year. It also confirmed the benefits of the Equigold acquisition completed in June of 2008, with the former Equigold assets of Mt Rawdon in Queensland and Bonikro in Côte d’Ivoire contributing 138,000 ounces to production for the period.

The acquisition has now established LGL as a diversified gold producer with quality assets in three countries and strong growth opportunities in development.

“LGL is now firmly established as a global gold producer with growing production and exciting exploration opportunities. I look forward to reporting further good progress in the coming months,” said managing director Arthur Hood in a statement to the ASX.

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