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OceanaGold lifts guidance

OceanaGold has increased its gold output forecast for 2018 as all operations including the new Haile operation in the US state of South Carolina perform well.
OceanaGold lifts guidance OceanaGold lifts guidance OceanaGold lifts guidance OceanaGold lifts guidance OceanaGold lifts guidance

Output from Haile is on the up.

Michael Quinn

Output is now estimated at 500,000-540,000 ounces versus previous guidance of 480,000-530,000oz.

OceanaGold said operating performance at Haile had been strong with recent solid plant performance, and mining activities were gradually improving, while improvement to the mine plan had seen Didipio in the Philippines continue to outperform.

In New Zealand, after a slow start Waihi was back on track while Macraes was slightly exceeding expectations with improved plant performance and a steady feed of higher grade ore from Coronation North, the company said.

Shares in OceanaGold are up more than 10% on levels earlier this month, well ahead of the performances of its gold mining peers on the ASX over the same period.

At its closing ASX price Wednesday of A$3.66 OceanaGold was capitalised at $2.21 billion.

 

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