Lihir Gold Ltd on Thursday reported a sharp rise in first-quarter gold production to 317,998 ounces, more than double the 139,188 ounces it mined in the same period a year ago.

It was also up from production of 315,484 ounces in the previous quarter.

Full-year production from its mines in Papua New Guinea, Ivory Coast and Australia was likely to be in a range of 1.04-1.2 million ounces, in line with previous guidance.

Total cash costs were reduced to $329 per ounce.

Lihir in March raised $325 million by selling new shares to institutions to fund an expansion of its Lihir mine in Papua New Guinea's New Ireland province. 

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