AUSTRALIAN miner OceanaGold Corp. posted a net revenue of $36.7 million during the first quarter of the year. This is slightly higher compared to the $31.2-million net income recorded during the same period last year.
In an official statement released to the media, OceanaGold said it achieved a consolidated gold production of 122,782 ounces, with a record quarterly gold production of 46,811 ounces at its Didipio mine in Luzon.
“I’m pleased to announce another strong quarter of operational and financial results underpinned by a record quarterly production and continued improvement in safety. Our portfolio of high-quality assets continues to deliver positive results, and with the construction of the Haile Gold Mine and the Didipio underground progressing on time and budget, we are well placed to achieve our plans for growth in 2016,” said Mick Wilkes, president and CEO.
Wilkes also expressed high hopes with the extension of its exploration permit granted by the Mines and Geosciences Bureau (MGB) within its mining tenement at Didipio. He said the company’s exploration team had been mobilized in the Philippines to carry out drilling on a number of high- quality, drill-ready targets across its mining tenement. With its quarterly gold production at Didipio hitting a record high of 46,811 ounces, consolidated gold production, together with its Macraes, Waihi and Reefton mines in New Zealand, reached 122,782 ounces, slightly up compared to its year-ago gold production during the same period at 119,500 ounces.
Copper production at Didipio reached 5,972 tons, slightly higher than the 5,591 ounces produced during the first quarter of last year.
The company sold 37,061 ounces of gold from its Didipio mines, while consolidated gold sales, including that from Waihi, Macraes and Reefton of 117,387 ounces, are slightly lower compared to the consolidated gold sales of 125,246 ounces, quarter-to-quarter.