Papua New Guinea gold miner Lihir Gold achieved a profit for the full-year to 31 December 2002 of US$53.2m. This stock has done well of late with its exposure to rising gold prices. But hot running sectors usually have a habit of cooling down, which would be a significant negative for Lihir. That topped off with the political situation in PNG means the odds of a fall in the stock are increasing. Look out for a more detailed review in the next issue, until then we're downgrading to SELL.