17 March 2014
Notice of Annual General Meeting Date
In accordance with Listing Rule 3.13.1, we advise that the Annual General Meeting of Highlands Pacific Limited will be held at the Grand Papua Hotel, Mary Street, Port Moresby, NCD, Papua New Guinea on Thursday, 22nd May 2014 at 10:00am (local time).
C.T. LENNON COMPANY SECRETARY
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ASX Code: HIG PoMSox Code: HIG
Shares on Issue: 854 million Options on Issue: 7.2 million Performance Rights: 11.6 million
Directors
Ken MacDonald, Chairman
John Gooding, Managing Director
Mike Carroll Dan Wood Bart Philemon
Management
Craig Lennon, CFO & Co.Sec
Larry Queen, Chief Geologist
Peter Jolly, GM Projects
Ron Gawi, GM Port Moresby
For further information, please contact:
John Gooding or Craig Lennon
Highlands Pacific - 07 3239 7800
Media Enquiries to:
Simon Jemison
Collins St Media - 03 9224 5319
Website:
www.highlandspacific.com
About Highlands Pacific Limited
Highlands Pacific is a PNG incorporated and registered mining and
exploration company listed on the ASX and PoMSoX exchanges. Its major assets are interests in the US$2.1bn Ramu nickel cobalt mine and the Frieda River copper gold project; with exploration in progress on the Star Mountains (Nong River, Mt Scorpion, Munbil and Tifalmin) licenses approximately 20km north of the Ok Tedi mine. Highlands also has exploration tenements at Muller Range on the border of the Western and Southern Highlands Provinces and on Normanby Island (Sewa Bay).
Star Mountains Prospects*
The Star Mountains exploration tenements, which include Nong River EL1312, Mt Scorpion EL1781, Munbil EL2001 and Tifalmin EL1392, are located approximately 20km north of the Ok Tedi mine, in the West Sepik Province, PNG. They lie within the highly prospective New Guinean Orogenic Belt, which hosts the Grasberg, Ok Tedi, Porgera and Hidden Valley mines, as well as the Frieda deposit.
Ramu Nickel Cobalt Mine
The Ramu nickel mine is located 75km west of the provincial capital of
Madang, PNG. Highlands 8.56% interest in Ramu will increase to
11.3% at no cost to Highlands after repayment of its share of the project debt (estimated to paid by 2018). From commissioning, Highlands has access to its pro-rata 8.56% share of Ramu's post-debt servicing, net cash flow. Highlands also has an option to acquire an additional 9.25% interest in Ramu at fair market value, which could increase the company's interest in the mine to 20.55%, if the option is exercised.
Frieda Copper/Gold Project*
The Frieda copper gold project is located 175kms north-west of the
Porgera gold mine and 75km north-east of the Ok Tedi mine. Highlands has a 20% interest in the project, subject to the completion of the PanAust Glencore Agreement which was announced on 1
November 2013. PanAust, subject to the completion of the PanAust
Glencore Agreement, will be responsible for 100% of the costs incurred by the Frieda River Joint Venture to finalise the definitive feasibility study for PanAust's development concept and will appoint and fund the cost of an independent expert to provide a peer review. PanAust will also be responsible for 100% of the costs to maintain the Frieda River project site, assets and community relations programmes up to the point in time of lodgement of the Mining Lease or Special Mining Lease application.
* Subject to the right of the Independent State of Papua New Guinea to acquire up to a 30% equity interest in any mining development in the country.
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