ANNUAL RESULTS

Pasminco Chief Executive Greig Gailey responded today to market speculation on the decision to defer the release of Pasminco`s annual results.

"Pasminco announced last Friday that its annual results release would be deferred by two weeks to Wednesday 12 September. The decision to defer the release was made to allow sufficient time for management and the board to fully review the implications of the previously announced restructing on the Group`s balance sheet. Investors will appreciate that the decision to divest the Australian mining assets has implications not only for the carrying value of our tax and currency hedging positions."

"As the incoming Chief Executive I obviously wished to have the opportunity to input into these key decisions, which I see as prudent and fundamental to creating an appropriate platform for the new Pasminco," he said.

Mr Gailey said, "This work is quite independent of on-going discussions with our lenders."

For further information contact:

Trevor Shard
Group Manager - Investor Relations
+61 (3) 9288 9186 or 0419 584 515

Peter Griffin
Group Manager - Public Affairs
+61 (3) 9288 0463 or 0419 314 265

Return to Home