Lihir predicts reduced output in 2010

Lihir predicts reduced output in 2010

Lihir Gold (ASX:LGL) said it sold 1.13 million ounces of gold in 2009, at an average cash price of $956 per ounce.

But the company warned it does not expect its 2010 yield to reach 2009 levels – it is predicting an output of between 960,000 and 1,06 million ounces.

Cash costs in 2009 were reduced from $400 per ounce to $397 per ounce, Lihir said. Cash margins meanwhile were healthy at $460 per ounce.

LGL shares have slumped 2.2% today to $3.06.

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Tags productionmininggoldLihir Gold

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