Lihir Gold Ltd (ASX:LGL) has announced production of 244,000 ounces of gold in the three months to June, up 6% on the previous quarter.
The company says quarterly production is in line with annual guidance and on track to produce 1-1.1 million ounces, with total 2010 cost of production unchanged at under $450 an ounce.
The company has also advised that the process plant expansion project at Lihir Island remains on budget and is scheduled for completion in 2011.
Lihir says the merger with Newcrest Mining Ltd (ASX:NCM) is proceeding as planned and will create a major global gold company with a diversified portfolio.
Lihir directors have unanimously recommended that shareholders vote in favour of the scheme in the absence of a superior one.
Lihir Gold reported a loss of $260.9 million for the year ending 30 December 2009.
LGL Price at posting:
$4.04 Sentiment: None Disclosure: Held
