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Fourth Quarter Activities Report

Document date:  Tue 21 Jul 1998
Published:  Tue 21 Jul 1998 00:00:00
Document No:  119072
Document part:  G
Market Flag:  Y
Classification:  

NORMANDY MINING LIMITED                       1998-07-21  ASX-SIGNAL-G

HOMEX - Adelaide                                                      

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Metals production & sales

SUMMARY OF PRODUCTION

                        Golden Grove    Woodcutters     Tennant Creek 
                      3 mths  12 mths  3 mths 12 mths  3 mths 12 mths 
                                periods ended 30 June 1998            

Mine production
Ore mined(1)     (t)  228,661 872,629 142,150 548,284 131,112 703,807
Ore milled       (t)  224,957 865,156 139,479 528,769 153,812 587,732 
Head grade Zinc  (%)     11.4    10.6    12.5    12.1       -       -
Copper           (%)      0.7     1.3       -       -     3.9     3.7 
Lead             (%)        -       -     5.4     5.2       -       -

Concentrate production
Zinc             (t)   45,620 157,852  26,809  98,407       -       -
Grade            (%)     49.7    49.9    54.3    54.9       -       -
Contained metal  (t)   22,664  78,795  14,561  54,003       -       -
Cash cost(2,3,4) (USc/lb)  38      39      38      44       -       -
Copper           (t)    5,517  42,233       -       -  19,177  70,786
Grade            (%)     14.8    19.7       -       -    28.3    28.4
Contained metal  (t)      817   8,336       -       -   5,434  20,135
Silver grade     (g/t)  1,263     673       -       -       -       - 
Gold grade       (g/t)   17.7     6.4       -       -     7.8     7.6
Cash Cost(2,5,6) (USc/lb)   -      83       -       -      55      71 
Lead             (t)        -       -  12,806  45,080       -       -
Grade            (%)        -       -    39.3    39.2       -       -
Contained metal  (t)        -       -   5,038  17,687       -       -


(1) Woodcutters: year to date ore mined, adjusted for overstatement
in prior period. 
(2) Cash cost includes smelting, refining, freight (land and ocean) 
charges and insurance, and is net of by-product revenue
(3) Golden Grove: copper by-product credits where associated with
zinc
(4) Woodcutters: lead and antimony by-product credits
(5) Tennant Creek: gold by-product credit (including 5 Level gold
pods)
(6) Golden Grove: gold and silver by-product credits


SUMMARY OF SALES

                            3 mths      12 mths
                        periods ended 30 June 1998

Zinc(1)
Payable metal      (t)       26,502     110,370
Estimated price(2) (USc/lb)      47          53

Copper(1) 
Payable metal      (t)        8,168      29,406
Estimated price(3) (USc/lb)      86          92 


(1) Concentrate sales revenues are based on provisional billings at 
time of shipment, with final settlement generally based on the average
London Metal Exchange price for a specified future month. Revenues on 
provisional priced "open" pounds are adjusted monthly, based on 
then-current prices.

(2) Zinc sales are not hedged. For the June 1998 quarter, 10 million 
pounds of payable zinc have been provisionally priced at US45c/lb.

(3) Copper sales estimated prices include benefits from hedging 
positions
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