LGL Bonikro ore reserves depleted: Hunt

THE Lihir Gold Ltd (LGL) has seen the depletion of mining by 275,000oz of ore at its Bonikro mine in Côte d’Ivoire, Africa.
The ore reserves as of last March 31 were 760,000oz compared with the previously stated reserve of 930,000oz as of October 2006.
Apart from the depletion of 275,000oz, there was also an increase in the gold price assumption from US$550/oz to US$900/oz.
The miner said the latest reserve estimate did not take into account drilling since last November, and did not include any estimates related to the nearby Hiré district.
It added that results received since November would be included in the next estimation expected to be completed later this year to coincide with the upgrade of Hiré resources and reserves and as part of the Bonikro expansion feasibility study.
“This is a good outcome for the Bonikro operation and underpins its value prior to the completion of the expansion feasibility,” LGL chief executive officer Graeme Hunt,  he said.
He added: “We expect the current drilling programme to further enhance the resource base by year end.
“Bonikro is an important centre for LGL operations in Côte d’Ivoire and provides a platform for further growth,” Hunt said.