Highlands posts $US63.8m FY loss

PNG-focused gold producer Highlands Pacific has announced a net loss of $US63.8 million for the year ended December 31, 2006, which it said was due to losses incurred by “ineffective” gold forward sales caused by delays in the ramp up to full production at its Kainantu operation.

Highlands posts $US63.8m FY loss Highlands posts $US63.8m FY loss Highlands posts $US63.8m FY loss Highlands posts $US63.8m FY loss Highlands posts $US63.8m FY loss

In a market release today, the company said the loss included a non-cash loss of $36.2 million attributed to the deferral of a number of forward sales contracts. No comparative figures were given.

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