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Gold/Mining/Energy : Mining News of Note
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To: LoneClone who wrote (40854)7/31/2009 3:15:25 PM
From: LoneClone  Read Replies (1) of 193721
 
Oceana Gold interim output hits record

miningweekly.com

By: Esmarie Swanepoel
30th July 2009

JOHANNESBURG (miningweekly.com) – ASX-and TSX-listed gold producer OceanaGold, which owns New Zealand’s largest gold mine, has recorded record half-year production of 158 277 oz, at an average cost of $349/oz.

The half-year production results ranked OceanaGold third in the top eight Australian gold companies, in terms of production over the previous six months.

“The New Zealand operations continue to operate to plan, which has resulted in record company gold production and improved operating margins for the period. These results demonstrate the quality of our production assets in New Zealand,” said OceanaGold CEO and CFO Marcus Engelbrecht.

Second quarter gold sales of 75 319 oz were up by 28% over the same period last year, while the total half year gold sales were up by 24% to 156 412 oz.

OceanaGold owns the New Zealand-based Macraes complex in Otango, which is made up of the Macraes openpit and the Frasers underground mines. The company also operates the Reefton openpit mine, on the west coast of the South Island.

OceanaGold expects to produce between 280 000 and 300 000 oz of gold from the New Zealand operations during 2009.
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