p/s i do not holdDear allPlease on our website a copy of our...

p/s i do not hold

Dear all

Please on our website a copy of our Media Release as announced to the ASX this morning. This release provides an update on the Rapu Rapu Project in the Philippines following receipt of a Temporary Lifting Order (TLO) granted by the Department of Environment and Natural Resources (DENR) on 10 July 2006 and commencement of Stage 3 of the TLO on 24 August 2006.


The TLO permits the plant to operate, take samples and ‘test’ environmental management systems to demonstrate ‘best practice’. The granting of the TLO by the DENR followed a comprehensive review process which verified the completion of extensive remedial measures. Additionally, Stage 3 of the TLO permits the processing plant to ramp up progressively to full capacity over the trial period and produce copper and zinc concentrates.


The plant has now achieved 90% of rated capacity and is expected to attain 100% of capacity within a further two days.


Lafayette expects to formalise the lifting of the cease and desist order by applying for, and obtaining, a Permanent Lifting Order (PLO) in due course. In the meantime, Rapu-Rapu Processing, Inc. (RRPI), the Company’s Philippine subsidiary, will today apply for a sixty day extension of the TLO. During this period, RRPI will continue normal operations and production of concentrates.


The release also details a number of corporate initiatives currently being undertaken by the Company.


If you have any queries, please don’t hesitate to contact us.


Kind regards

Kay Donehue