Well, this is what we have been waiting for; production up,...

Well, this is what we have been waiting for; production up, costs down, promise of more to come. Geothermal power a real bonus - saving $40 mil pa and Carbon Credits!
Floatation tank will provide 10% more recovery with grades of 6.6g/ton this really is a gold mine. 830 Koz this year and 1 mil to follow. What a great ride

"Outlook 2007 promises further rapid progress in the transformation of Lihir Gold. Gold production is forecast to increase to between 800,000 and 830,000 ounces this year, benefi ting from the positive impact of the fl otation circuit and the improved performance across the operation. First half production is expected to be between 330,000 and 350,000 ounces. Total material movements are expected to exceed 60 million tonnes this year, and gold grade of autoclave feed is anticipated to be approximately 6.6 grams per tonne. On the cost side, the expansion of the geothermal power station will deliver further cost savings, and combined with the increased output, should drive gross cash costs below $350 per ounce.

Record annual gold production of 651,000 oz. Record quarterly gold production of 226,000 oz.

• Record material movements of 16.4 million tonnes in the quarter, 56.2 million tonnes for the full year.

• Record mill throughput of 1.3 million tonnes for the quarter, 4.3 million tonnes for the year.

• Gold grade of 5.9 g/tonne in the quarter, 5.14 g/tonne for the year.

• Expansion projects on track for commissioning to commence in Q1, 2007

Net profit up to $53.4 million for the year, from $9.8 million in 2005.

• Operating cashflow of $58.7 million for the full year, up from $9.5 million in 2005.

• Full year revenue up 38% to $310.4 million due to increased gold price and higher production.

• Average realised gold price of $481/oz in the 12 months to December, compared with $380/oz in 2005.

• Hedge book reduced by 207,000 ounces in the year. Total forward gold commitments now at 1.48 million ounces, including 480,000 oz gold loan.

• Total cash costs of $297/oz for the full year and $283/oz for the second half. Gross cash costs of $397/oz for the year, and $389/oz in the second half

Production in 2007 to increase to approximately 800,000-830,000 ounces.