OceanaGold achieves production and cost guidance for sixth year straight

Company News

by Kathy Skantzos

OceanaGold Corporation (ASX:OGC) has reported it has achieved its 2017 production and cost guidance for the sixth consecutive year.

The gold and copper miner has reported record annual gold production of more than 574,000 ounces which is 38 per cent higher year-on-year, after recording record quarterly production of more than 166,000 ounces, 22 per cent higher than the previous quarter.

Consolidated annual gold sales reached more than 555,600 ounces and copper sales were more than 18,000 tonnes.

Annual copper production reached more than 18,000 tonnes including more than 3,600 tonnes in the fourth quarter.

The company’s cash balance has increased to $73 million from $61 million in September 2017, a debt has reduced to $167 million following debt facility payments of approximately $73 million.

Shares in OceanaGold Corporation (ASX:OGC) closed 1.5 per cent lower at $3.23 yesterday.
 

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.