Lihir Gold capitalisation jumps

THE 46c leap last week to A$3.84 has pushed Lihir Gold’s market capitalisation to a record A$7.3 billion (K19.31 billion), making it the 49th largest company on the Australian Stock Exchange.
This is the first time a Papua New Guinea-based company had made the top 50 companies on the ASX. Lihir had gained 13 spots from the 62nd position the previous week.
The PNG gold miner had benefited from strongly rising world gold prices and from increased North American interest in the company following a listing on the Toronto Stock Exchange.
Newcrest Mining, which recently followed the Lihir lead of making a large placement to raise funds to pay off its hedge book, was the 32nd largest on the ASX in terms of its A$9.6 billion (K25.39 billion) market capitalisation. It had been 37th biggest the previous week.
Meanwhile, Oil Search also saw its shares rise strongly. Its A$0.52 gain to A$4.37 pushed it to the 71st position, up nine spots from the previous week, in terms of market capitalisation.

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