OCEANAGOLD REPORTS RECORD GOLD SALES REVENUE FOR FY2010
2011年2月17日 - 2:30PM
PR Newswire (Canada)
MELBOURNE, Australia, Feb. 17 /CNW/ -- /NOT FOR DISSEMINATION OR
DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO US
NEWSWIRE SERVICES./ MELBOURNE, Australia, Feb. 17 /CNW/ -
OceanaGold Corporation (ASX: OGC) (TSX: OGC) (NZX: OGC) ("The
Company" or "OceanaGold") has cemented its position as one of
Australasia's premier gold companies. In its 2010 Full Year Results
announced today, the Company reported record gold sales of $305.6
million, a 29% increase on the 2009 result. The Company produced
268,602 oz of gold at an average cash cost of $570 per ounce.
Earnings before hedging and income tax for FY2010 was $55.4
million compared to $25.6 million in FY2009. The Company's cash
operating margins also achieved record highs in 2010, reaching $783
per ounce in the fourth quarter and an average $570 per ounce for
the year, despite being constrained by an 'out of the money' hedge
book during the first quarter. Other strong gains included EBITDA
(earnings before interest, tax, depreciation, amortisation and
before gains/losses on hedges) of $139.5 million, a 31% increase on
2009. The year also saw the Company secure C$115 million in
equity financing to recommence its development of the world class
Didipio gold copper project in the Philippines and invested $10
million in exploration activities at its New Zealand operations,
resulting in the second straight year of increased mineral reserves
net of mine depletion. OceanaGold CEO, Mick Wilkes said the
Company's 2010 Full Year Results were a reflection on the leverage
to the rising gold price that the New Zealand assets offered. "With
a solid production platform in New Zealand, as one of Australasia's
largest gold producers, OceanaGold is well positioned to drive
further growth in the business through the development of our
Didipio gold and copper project. In addition, we will also begin to
examine other external opportunities that would be complementary
and accretive to our current asset base." he said. Other highlights
of the 2010 Full Year Result include: -- Sold 268,087 ounces of
gold for FY 2010 -- Posted another solid improvement in gold
recoveries across the operations with a 2% gain on FY2009 to 81.6%
-- Recruited key members of the project management and construction
team and commenced detailed engineering design and procurement for
the Didipio Project in the Philippines -- Announced in the fourth
quarter that the 'Globe Deeps' drill program at Reefton had
successfully intersected mineralisation 250m down plunge from the
current pit design -- Increased gold reserves in New Zealand to
2.15 million ounces net of mine depletion All figures stated in
United States Dollars (US$) About OceanaGold OceanaGold Corporation
is a significant Pacific Rim gold producer with projects located on
the South Island of New Zealand and in the Philippines. The
Company's assets encompass New Zealand's largest gold mining
operation at the Macraes goldfield in Otago which is made up of the
Macraes open pit and the Frasers Underground mines. Additionally on
the west coast of the South Island, the Company operates the
Reefton open-pit mine. OceanaGold produces between 260,000 -
280,000 ounces of gold per annum from the New Zealand operations.
The Company also owns the Didipio Project in northern Luzon,
Philippines. OceanaGold is listed on the Toronto, Australian and
New Zealand stock exchanges under the symbol OGC. Cautionary
Statement Statements in this release may be forward-looking
statements or forward-looking information within the meaning of
applicable securities laws. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"expects" or "does not expect", "is expected", "anticipates" or
"does not anticipate", "plans", "estimates" or "intends", or
stating that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved) are not
statements of historical fact and may be forward-looking
statements. Such forward-looking statements include, without
limitation, statements with respect to any future reserves
attributable to the Macraes and Frasers Underground projects and
estimated production from the Company's existing properties.
Forward-looking statements are subject to a variety of risks and
uncertainties which could cause actual events or results to differ
from those reflected in the forward-looking statements including,
among others, the accuracy of mineral reserve and resource
estimates and related assumptions, inherent operating risks and
those risk factors identified in the Company's Annual Information
Form prepared and filed with securities regulators. There are no
assurances the Company can fulfil such forward-looking statements
and, subject to applicable securities laws, the Company undertakes
no obligation to update such statements. Such forward-looking
statements are only predictions based on current information
available to management as of the date that such predictions are
made; actual events or results may differ materially as a result of
risks facing the Company, some of which are beyond the Company's
control. Accordingly, readers should not place undue reliance
on forward-looking statements. It is also noted that mineral
resources that are not mineral reserves do not have demonstrated
economic viability. To view this news release in HTML formatting,
please use the following URL:
http://www.newswire.ca/en/releases/archive/February2011/17/c3606.html
pMr Darren Klinckbr/ Vice President, Corporate and Investor
Relationsbr/ Tel: +61(3) 9656 5300/p
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