| | Business Summary | | Lihir
Gold
Limited
owns
and
operates
a
gold
mining
project
(the
Lihir
operation)
located
on
Lihir
Island
in
the
New
Ireland
province
of
Papua
New
Guinea.
Production
of
gold
from
oxide
ore
commenced
in
May
1997.
In
September
1997,
the
Company
completed
construction
of
the
processing
and
related
facilities
for
the
Lihir
operation
and
commenced
production
of
gold
from
sulfide
ore.
The
initial
exploration
and
development
work
on
the
Lihir
operation
was
conducted
by
a
joint
venture,
beginning
in
1982.
As
of
December
31,
1999,
the
Company's
estimated
proved
and
probable
reserves
stood
at
11.20
million
contained
ounces. | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | Lihir
Gold
Limited
owns
and
operates
a
gold
mining
project
on
Lihir
Island
in
Papua
New
Guinea.
The
Lihir
operation
is
based
on
open
pit
mining
of
two
adjacent
overlapping
pits.
For
the
fiscal
year
ended
12/31/00,
revenues
rose
10%
to
$231
million.
Net
loss
according
to
U.S.
GAAP
totalled
$327.7
million,
up
from
$15.8
million.
Revenues
reflect
higher
gold
production.
Higher
loss
reflects
higher
overhead
costs
due
to
production
increases. | | More
from
Market Guide: Significant
Developments |
| | Officers | |
| Position | | Ross Garnaut, 52 | Chairman | | Michael Merton, 47 | CEO | | Bradley Mills, 34 | Sec.
and Gen. Counsel | | Jeff Archer, 41 | Mine
Mang. | | Stewart Beckman, 31 | Mang.,
Process Plant Operations |
| More
from
Market Guide on Officers & Directors:
Expanded
List, Bios,
Compensation,
Options
|
|
![[one-year price graph]](http://chart.yahoo.com/c/0b/l/lihry.gif)