the Rapu Rapuexploration project in the Philippines.Detailed...

the Rapu Rapu
exploration project in the Philippines.
Detailed feasibility studies of the Rapu Rapu mineral resource support a mine plan where annual
production of approximately 10,000 tonnes of copper in concentrates, 14,000 tonnes of zinc in
concentrates, 50,000 ounces of gold and 600,000 ounces of silver. Production is expected to
commence in the final quarter of 2004.
Lafayette has secured all Government and environment approvals necessary for the project and
also secured access to approximately 230 hectares on the Island, being all land required for the
project and its infrastructure.
Lafayette has also entered into a guaranteed maximum price construction contract with Leighton
Contractors (Asia) Limited covering the plant, tailings storage facility and camp, while Leighton will
also conduct mining activity at the mine.
Construction time to first metal production for the gold plant is scheduled for 9 months with
concentrate production to commence 5 months later.
Lafayette has also secured the support of LG International Corporation and KORES, the Korean
government strategic resources investment arm, both of whom jointly will hold 26% of the project.
Significant exploration potential exists on Rapu Rapu Island, with a comprehensive exploration
program planned to commence during the construction period.