🕐06.03.13 - 05:27 Uhr

HIGHLANDS PACIFIC LTD [ASX: HIG] - INDEPENDENT INVESTMENT RESEARCH ON HIGHLANDS PACIFIC – MARCH 2013





Fortbridge Media Release

Highlands Pacific Ltd [ASX: HIG] - Independent Investment Research on Highlands Pacific � March 2013

Highlands Pacific Limited (ASX: HIG) is an ASX-listed mineral exploration company with interests in two projects (Ramu and Frieda River projects) that have recognised JORC resources and exploration licences at a third site (Star Mountains). The company is incorporated in PNG and is also listed on the POMSoX and all assets are located in Papua New Guinea (PNG). After a delay due to legal proceedings, development of the Ramu project is now complete and is ramping up towards full production, expected mid-2013.

FRIEDA RIVER FEASIBILITY STUDY DELIVERED
Ramu Officially Open: In a ceremony held in the first week of December 2012, the Ramu Nickel Project was officially opened. HIG currently has an 8.56% interest in the Project, which will increase to 11.3% after repayment of the project debt (expected to be in 2018). Once the debt is repaid, HIG has the option to acquire an additional 9.25% interest at market value which would take its interest to 20.55%.

Delivery of Frieda River Project Feasibility Study (FS): In December 2012, Xstrata Copper (Xstrata) delivered a FS and an extended study for the Frieda River Project. The studies are currently being reviewed by HIG to ensure they comply with the obligations under the JV agreement. The Project has an estimated capital expenditure of US$5-5.6 billion. The mine is expected to have a 20 year life with the potential for an extension of the mine life with further drilling at greater depths. The Project is seeking to produce on average 204,000tpa copper and 305,000ozpa gold at a cash cost of US$111/lb copper. The Frieda River Project will be one of the largest copper producing mines in the world.

Please see the link below for more details.

For further information, please contact:

John Gooding
Managing Director

or

Craig Lennon
Chief Financial Officer
Telephone: 07 3239 7800

MEDIA & INVESTOR RELATIONS ENQUIRIES:

Fortbridge Consulting: + 612 9003 0477

Fortbridge / Sydney
Tristan George
Mobile: +61 407 218 832
Email:








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