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Fourth Quarter Activities Report

Document date:  Thu 18 Jul 2002
Published:  Thu 18 Jul 2002 12:19:36
Document No:  219775
Document part:  A
Market Flag:  Y
Classification:  Fourth Quarter Activities Report

SONS OF GWALIA LIMITED                        2002-07-18  ASX-SIGNAL-G

HOMEX - Perth                                                         

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REPORT ON ACTIVITIES

For The Quarter Ended 30 June 2002

HIGHLIGHTS

GOLD

* Gold production for the quarter of 141,529 fine ounces.

*Gold cash costs of $372 per ounce with a realised price of $592 per
ounce yielding a strong cash margin of $220 per ounce.

* Record annual gold production of 541,224 ounces at a cash margin of
$212 per ounce.

* Gold Strategic Review completed and has identified a minimum
600,000 ounces of production going forward for at least five years.
Current prospects and ground positions indicate significant potential
to extend this production rate beyond five years.

ADVANCED MINERALS

* Record quarterly tantalum production of 716,494 lbs.
* Record annual tantalum production of 2,138,841 lbs.
*Record quarterly and annual tantalum sales of 632,270 lbs and
2,015,059 lbs respectively in line with sales contracts.
* Tantalum expansions operating at design capacity and now moving
into optimisation phase.
* Performance of the Wemen Mineral Sands mine in the Murray Basin
continues strong improvement.
* Significant new high grade mineral sand discovery at Ouyen located 
35 kilometres from Wemen.

MORE TO FOLLOW