OceanaGold ups 2018 gold guidance
A strong operating performance in the first half of 2018 has seen dual-listed OceanaGold increase its gold production guidance for the year to between 500 000 oz and 540 000 oz.
The new guidance, announced on Tuesday, compares with the company’s previously stated production target of 480 000 oz to 530 000 oz for 2018.
The Melbourne-based company’s operations have outperformed management expectations, particularly the Didipio mine, in the Philippines.
“With the improvement to the mine plan, Didipio continues to outperform and present opportunities for further optimisation while ramp-up of the underground is progressing nicely,” said OceanaGold Mick Wilkes.
He added that operating performance at the Haile mine, in the US, also had been strong, with recent solid plant performance and mining activities improving.
In New Zealand, after a slow start, Waihi was back on track, while Macraes was slightly exceeding expectations with improved plant performance.
"With the increase to our production guidance and strong financial performance, we fully expect to maintain our standing as one of the most profitable gold companies globally," Wilkes stated.
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