OceanaGold Corporation
OceanaGold Corporation
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International miner OceanaGold has extended the forecast life of its Haile gold mine to 2033, based on mineral reserves only, in an NI 43-101 compliant technical report on the South Carolina, USA project.
The study outlines average production of 180,000-200,000ozpa, increasing to about 250,000ozpa in 2023-27 incorporating combined openpit and underground mill feed. LOM AISC is forecast at about $800/oz.
Australian-based international explorer Santana Minerals is seeking to revive one of New Zealand’s richest past gold mines with agreement to acquire the Bendigo-Ophir project in the Otago Goldfields through the all-shares acquisition of its current private owner, Matakanui Gold.
Completion of an initial reserve of 160,000oz gold for the Golden Point underground project has enabled international miner OceanaGold to extend the forecast mine life for its Macraes mine in New Zealand’s South Island to 2028.
After nearly 30 years, NZ’s largest gold mine was expected to end its life this year. OceanaGold has now extended the forecast life of its Frasers Underground operation to 2022 while Golden Point Underground starts production in 2021.
The COVID-19 pandemic has forced mid-tier, multinational gold/copper producer OceanaGold to cut its Dec 2020 year (FY 20) gold expectations again.
This time to between 295,000oz-345,000oz at AISC $US1,150oz-$1,250oz from last month’s cut to 340,000oz-360,000oz from 360,000oz-380,000oz and ASIC from $1,075oz-$1,125oz to $1,050oz-$1,100oz.
Gold miner Oceanagold has again cut FY 20 output expectations for its global operations in the wake of the COVID-19 pandemic
International miner OceanaGold is assessing the option of developing a state-of-the-art underground mining operation producing 190,000-230,000ozpa starting in 2026 after gaining the mining permit for its Wharekirauponga gold project on the Coromandel Peninsula in New Zealand’s North Island.
The permit confirming its exclusive rights to the WKP resource allows OceanaGold to continue exploration and technical/environmental studies over the environmentally sensitive area.
The COVID-19 pandemic, particularly in New Zealand, has dealt OceanaGold a serious blow cutting June 2020 qtr (Q2 20) total gold production to 58,700oz from Q1 20’s 80,700oz and sales to 61,900oz from 91,400oz, blowing the company loss out to $US31.4M from the previous qtr’s $26M loss.
A new study has flagged another 2.2Moz of gold from OceanaGold’s Waihi operations in New Zealand’s North Island between 2021 and 2036 starting in Q2 2021.
The latest study assumes an expansion of the existing Waihi plant to 1.6Mtpa for annual gold production between 35,000oz-45,000oz in 2021, increasing to 300,000oz pa by 2028.
OceanaGold PEA backs Waihi, NZ, expansion to produce another 2.2Moz gold over 15-years starting next year
International miner OceanaGold has suffered another setback in its fight for the right to reopen its Didipio gold-copper mine on Luzon island in the Philippines after its mid-2019 shutdown due to a legally questionable ban by a local council.
Mind you, OceanaGold has heard only from social media that the Philippines Court of Appeals has rejected its challenge to the actions of the Nueva Vizcaya administration that halted its legal and successful operation.