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1998
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25 September 1998 - 1998 production outlook
Lihir Gold Limited has reduced its forecast of 1998 gold production from 600,000 oz to 530,000 oz.
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9 September 1998 - Notice to Shareholders: Commencement of Provisions - PNG Securities Act 1997
Lihir Gold Limited has been advised by the PNG Investment Promotion Authority that the following provisions of the new Securities Act will apply to the Company from 28 September 1998.
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10 August 1998 - Issue of shares to Vengold Inc
Lihir Gold Limited has issued 3,594,530 ordinary shares to Vengold Inc, following the lapse on 8th August of an option to acquire these shares granted to Mineral Resources Lihir Pty Ltd.
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3 August 1998 - Bank completion tests satisfied / Appointment of new director and CEO / July Production Update
Lihir Gold Limited has satisfied the technical and financial completion tests under its main US$300 million finance facility arranged through Union Bank of Switzerland. Satisfaction of these tests was required by the end of 1999 and will permit the release of various covenants relating to the loan documentation. Additionally, it will permit the release of the guarantees provided to the syndicate banks by The Independent State of Papua New Guinea, Rio Tinto Plc and Niugini Mining Limited.
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21 May 1998 - New appointment Managing Director
Lihir Gold Limited announced today that John O¹Reilly, Managing Director of Lihir Management Company Pty Ltd and Chief Executive of Lihir Gold Limited will be transferring to London in August to take up the position of Chief Executive, Gold and other Minerals at Rio Tinto. Rio Tinto has advised the move follows the retirement of John Collier from that position after 38 years with Rio Tinto.
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8 May 1998 - Lihir Gold Limited raises US$67m through a placement
Lihir Gold today raised US$67m from a placement to major shareholders. The funds will enable the Company to acquire a 300 tonne per day Praxair oxygen plant for a total cost of up to US$32m as well as provide additional working capital.
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29 April 1998 - Result of Annual General Meeting
All resolutions proposed at the Annual General Meeting of Lihir Gold Limited held on 28 April 1998 were passed by shareholders.
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28 February 1998 - Lihir Gold announces 1997 profit of US$11.8 million
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Lihir Gold today announced 1997 net income after tax, for the three months from 1st October, of US$11.8 million representing 1.3 c per share.
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