OceanaGold Corporation (ASX:OGC)
has downgraded its 2017 gold production guidance and increased its all-in sustaining costs at its Haile gold mine.
The multinational gold producer says although Halie is cash flow positive and many aspects of the operation continue to meet or exceed its expectations, it encountered some commissioning issues that impaced its overall process stabilities and recoveries.
As a result, its 2017 Halie gold mine’s 2017 production guidance was dropped from a range of 150,000 -170,000 ouces to be 110,000 to 130,000 ouces of gold.
The company's all-in sustaining costs for the gold mine also increased from the previously advised range of $500 to $550, to be $600 to $650.
Shares in OceanaGold Corporation (ASX:OGC)
last traded 0.47 per cent lower to $4.23.