OceanaGold Corporation
(ASX:OGC) looks set to acquire Newmont’s Waihi gold mine for $US101 million.
The gold miner says Newmont will retain a 1 per cent net smelter royalty for gold ounces produced at one tenement with a cap of 300,000 ounces.
CEO Mick Wilkes says this is a significant milestone and that the asset is a very prospective and high quality goldfield.
The company has received approval to increase its revolving credit facility to $US225 million with competitive terms.
OceanaGold returned to profit and booked a net profit of $136 million in the 2014 calendar year.
