OceanaGold says 2017 Halie gold guidance falls, costs rise

Company News

by Jessica Amir

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.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.

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