Tuesday 1st February 2011
|Text too small?|
OceanaGold, which operates the Macraes and Reefton goldfields in the South Island, said its gold sales for 2010 were slightly below expectation.
The company sold 68,027 ounces of gold in the fourth quarter, taking sales for 2010 to 268,087 ounces.
This was 10.6% lower than 2009 and was slightly below expectations for the year.
The company releases its annual result on February 17.
It said today that revenue for the fourth quarter was US$93.8 million ($NZ121 million) based on an average gold price of US$1379 per ounce.
Operational expenditures for the fourth quarter were US$39.9m, excluding depreciation, amortisation and general and administrative expenses. Unaudited cash costs were US$596 per ounce for the fourth quarter and US$570 per ounce for the full year, which is within previous full-year guidance.
Exploration costs in the fourth quarter were US$3.3 million. This included both surface and underground resource drilling at the Macraes mine, within the current Frasers and historic Innes Mills pits, and testing the down-dip extension of mineralisation at Round Hill adjacent to the processing plant.
An infill drilling programme was completed at the historic Ounce mine, located five kilometres south of the current mining area.
OceanaGold shares rose 25 cents to $NZ3.50 on NZX yesterday.
No comments yet
Delegat Group Limited (NZX: DGL) $333 million syndicated bank facilities
7th December 2021 Morning Report
Sky Network Television Limited (NZX: SKY) Transformation accelerates - Sky raises FY22 guidance
PGG Wrightson Limited (NZX: PGW) FY22 Operating EBITDA forecast to better last year
Vulcan Steel Limited (NZX: VSL) Trading Update & Earnings Upgrade
6th December 2021 Morning Report
Synlait Milk Limited (NZX: SML) Partnership to enhance soil health; test regen ag practices
Property for Industry Limited (NZX: PFI) Strong Valuation Outcome, Penrose Acquisition
3rd December 2021 Morning Report
Fonterra Shareholders Fund (NZX: FSF) Fonterra provides Milk Price, earnings and Q1 update