LGL
From IntFX
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Lihir Gold Limited is a gold producer in the Australasian region. The company operates gold mines and processing facilities on the island of Lihir, 900 kilometers northeast of Port Moresby in New Ireland province of Papua New Guinea. The Lihir ore body has an estimated 40 million ounces in resource, including 23.6 million ounces in reserves. On 17 October 2006, the Company announced that its wholly owned subsidiary, Lihir Australian Holdings Pty Limited (LAH), had entered into a merger agreement with Ballarat Goldfields NL (Ballarat) by way of a scheme of arrangement. Ballarat�s major asset is its 100% interest in the Ballarat East project. The Ballarat East property is classified as a development property with more than five kilometers of underground development and stage 1 of the processing plant having been completed and commissioned. This acquisition was completed on March 8, 2007.
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