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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  OceanaGold Corporation    OGC   CA6752221037

OCEANAGOLD CORPORATION

(OGC)
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OceanaGold : Continues to Advance the Waihi District Opportunities

09/22/2020 | 08:57am EST

/NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES./

BRISBANE, Australia, Sept. 22, 2020 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) (the "Company") provides an update of the status of operations in the Waihi District.

Michael Holmes, President and CEO of OceanaGold said, "OceanaGold has operated successfully and in a responsible manner in New Zealand for over 30 years. Over the past few years, we have invested in extensive exploration programs that has resulted in significant increases to Mineral Reserves and Resources at both Macraes and Waihi operations."

"Despite the five-week cessation of development related to the COVID-19 restrictions, the Martha Underground remains firmly on track for first production in the second quarter of 2021. Exploration activities continue at Martha Underground with four drill rigs and WKP with two drill rigs targeting resource conversions and extensions. At WKP we are drilling the East Graben vein and preparing for drilling of both the Western and T-Stream veins. We continue to advance each of the Waihi District opportunities as part of our plans to realise the significant value potential of Waihi."  

"OceanaGold has one of the most exciting organic growth projects in the gold industry. The New Zealand growth opportunities along with the future Haile Underground represent not only production growth but also margin growth. We are very excited and remain fully committed to investing in and executing on our organic growth plans on the optimum timeline."

Authorised for release to market by Acting Company Secretary, Chris Hansen.

www.oceanagold.com  |   Twitter: @OceanaGold

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.

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, achievement of guidance, 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 outbreak of an infectious disease, the accuracy of mineral reserve and resource estimates and related assumptions, inherent operating risks 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 as a result 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 as a result 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.

OceanaGold Corporation (CNW Group/OceanaGold Corporation)

SOURCE OceanaGold Corporation

© Canada Newswire, source Canada Newswire English

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Financials (USD)
Sales 2020 503 M - -
Net income 2020 -143 M - -
Net Debt 2020 131 M - -
P/E ratio 2020 -6,38x
Yield 2020 0,08%
Capitalization 877 M 878 M -
EV / Sales 2020 2,00x
EV / Sales 2021 1,18x
Nbr of Employees 2 158
Free-Float 99,8%
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 2,59 $
Last Close Price 1,25 $
Spread / Highest target 231%
Spread / Average Target 108%
Spread / Lowest Target -1,44%
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Managers
NameTitle
Michael H. L. Holmes President, CEO, Director & Executive VP
Ian MacNevin Reid Non-Executive Chairman
Scott McQueen Chief Financial Officer & Executive Vice President
Geoffrey William Raby Independent Non-Executive Director
Paul Bristol Sweeney Independent Non-Executive Director
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