Open Briefing(R). OceanaGold. Progress on Expanding Production
Filed under: Operator - OceanaGold
OceanaGold Corporation (”OceanaGold” - TSX, ASX and NZX codes “OGC”) produced 63,505 ounces of gold in the December quarter 2007 which was a significant increase over the September quarter of 43,194 ounces. Can you comment on these increased production rates and the fact that cash costs for the year while high at US$556/oz, came in under guidance of US$570-$580 per ounce?
CEO Steve Orr
We had anticipated and planned for a particularly strong December quarter. We had also expected the first three quarters to be challenging due to our significant waste removal program at the Macraes open pit, however this was completed on time as forecast by the end of the September quarter when we resumed mining ore-grade material in the pit. In addition, we significantly improved our performance at our new Reefton Mine.
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