OceanaGold's Waihi mine
Gold and copper producer OceanaGold has refinanced its revolving credit facility on improved commercial terms.
The new four-year facility, supported by a group of seven international banks, provides committed bank credit of $200-million and a $50-million accordion.
"We are pleased that a highly reputable and global banking group has committed to provide this new facility, which allows us to maintain significant financial flexibility at a lower cost.
"The new facility rightsizes our liquidity requirements in line with our capital management plan, which recognises both our projected growth in production and exciting organic growth pipeline,” says OceanaGold CFO Marius van Niekerk.
TSX-listed OceanaGold has four operating mines: the Haile gold mine in the US; the Didipio mine in the Philippines; and the Macraes and Waihi operations in New Zealand.