/NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO
US NEWSWIRE SERVICES./
MELBOURNE, June 27, 2019 /CNW/ - OceanaGold Corporation
(TSX: OGC) (ASX: OGC) (the "Company") wishes to
inform that reports stating the Company has halted operation is
untrue and the Didipio Mine continues to operate.
The Company lodged its application for renewal of its Financial
or Technical Assistance Agreement ("FTAA") with the Philippine
Government in March 2018. The Company
received confirmation on June 20,
2019 from the regulatory authority, the Mines and
Geosciences Bureau ("MGB") that the Didipio operation is permitted
to continue operations pending the confirmation of the FTAA renewal
by the Government. The Company is committed to operating in
accordance with the law and will always comply with its
responsibilities under its contract with the Philippine
government.
The Didipio mine has delivered significant socio-economic
benefits to the Barangay of Didipio, neighbouring communities, the
provinces of Nueva Vizcaya and
Quirino and the Philippines. It
directly employs 1,500 workers of which approximately 95% are
Philippine nationals including over 50% from the local communities
and several thousand additional livelihood opportunities/indirect
jobs through partnerships with cooperatives and social development
organisations.
About OceanaGold
OceanaGold Corporation is a mid-tier, high-margin, multinational
gold producer with assets located in the
Philippines, New Zealand
and the United States. The
Company's assets encompass the Didipio Gold-Copper Mine located on
the island of Luzon in the
Philippines. On the North Island of New Zealand, the Company operates the
high-grade Waihi Gold Mine while on the South Island of
New Zealand, the Company operates
the largest gold mine in the country at the Macraes Goldfield which
is made up of a series of open pit mines and the Frasers
underground mine. In the United
States, the Company operates the Haile Gold Mine, a
top-tier, long-life, high-margin asset located in South Carolina. OceanaGold also has a
significant pipeline of organic growth and exploration
opportunities in the Americas and Asia-Pacific regions.
OceanaGold has operated sustainably since 1990 with a proven
track-record for environmental management and community and social
engagement. The Company has a strong social license to operate and
works collaboratively with its valued stakeholders to identify and
invest in social programs that are designed to build capacity and
not dependency.
In 2019, the Company expects to produce between 500,000 to
550,000 ounces of gold and 14,000 to 15,000 tonnes of copper at
All-In Sustaining Costs ranging between $850 and $900 per
ounce sold.
Cautionary Statement for Public Release
Certain information contained in this public release may be
deemed "forward-looking" within the meaning of applicable
securities laws. Forward-looking statements and information relate
to future performance and reflect the Company's expectations
regarding the generation of free cash flow, execution of business
strategy, future growth, future production, estimated costs,
results of operations, business prospects and opportunities of
OceanaGold Corporation and its related subsidiaries. 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. Forward-looking statements are subject
to a variety of risks and uncertainties which could cause actual
events or results to differ materially from those expressed in the
forward-looking statements and information. They include, among
others, the accuracy of mineral reserve and resource estimates and
related assumptions, inherent operating risks, sovereign risks,
risk of suspension and those risk factors identified in the
Company's most recent Annual Information Form prepared and filed
with securities regulators which is available on SEDAR at
www.sedar.com under the Company's name. There are no assurances the
Company can fulfil forward-looking statements and information. Such
forward-looking statements and information 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 because of risks facing the Company, some of which are
beyond the Company's control. Although the Company believes
that any forward-looking statements and information contained in
this press release is based on reasonable assumptions, readers
cannot be assured that actual outcomes or results will be
consistent with such statements. Accordingly, readers should not
place undue reliance on forward-looking statements and information.
The Company expressly disclaims any intention or obligation to
update or revise any forward-looking statements and information,
whether because of new information, events or otherwise, except as
required by applicable securities laws. The information contained
in this release is not investment or financial product advice.
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SOURCE OceanaGold Corporation