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Gold/Mining/Energy : Haddington HDN-ASX

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To: Bob Lawson who started this subject	2/2/2003 7:18:16 PM
From: Buckey	of 174

Still kicking Haddington International Resources Ltd. Quick Quote: X.HDN 0.13 (0.00) Second Quarter Activities & Cashflow Reports 3/2/03 8:35:00 AM HADDINGTON RESOURCES LIMITED 2003-01-31 ASX-SIGNAL-G HOMEX - Perth +++++++++++++++++++++++++ The Directors of the Company are pleased to present the report on Operations for the quarter ended 31 December 2002. Bald Hill Production Highlights for the quarter were: * 68,774 tonnes of ore mined. * 78,154 tonnes of ore treated. * 45,028 pounds of tantalite produced. * Revenues from sales of tantalite $2.8 million. Other highlights were: * Acquisition of the Wallace Gold Project. * Payment of a 1.0 cent per share dividend to share holders. Production of tantalite was slightly higher than the previous quarter, despite a Christmas plant shutdown. The process plant was shutdown for one week over the Christmas period, during which time routine planned maintenance was carried out. Cash position at the end of the quarter was effected by payment of approximately $332,000 of dividends in December, $150,000 cash payment for the acquisition of the Wallace gold project and an accumulated receivable of $760,000 that was received in early January 2003. During the quarter the Bald Hill project operated from ROM stockpiles with both primary crushing and heavy mineral separation ongoing. Mining was carried out in the South Pit. A review of the metallurgical performance of the Bald Hill process plant was completed during the quarter. Additional spiral banks were brought on line and other process improvements implemented. The contract primary crushing was upgraded to provide three stages of comminution, resulting in a more consistent feed to the plant and assisting with increased throughput. Since startup after the Christmas break throughput has increased to approximately 50 tonnes per hour. MORE TO FOLLOW

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