/NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES./
MELBOURNE, Australia, April 9, 2013 /CNW/ - OceanaGold Corporation (ASX: OGC, TSX: OGC, NZX: OGC) (the "Company") is pleased to announce the first shipment of the Didipio concentrate from the San Fernando port in the Philippines.
Highlights
-
First shipment of approximately 5,000 dry tonnes of copper-gold
concentrate now en route to Hibi, Japan
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First cash receipt for Didipio concentrate due mid April
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1,500 dry tonnes of copper-gold concentrate currently at port
-
8,800 dry tonnes of copper-gold concentrate currently at Didipio mine
site
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Next 5,000 tonne shipment expected late April 2013
OceanaGold Managing Director and CEO, Mick Wilkes, said "Commissioning activities continue to progress well at the Didipio mine. To date, we have produced over 15,000 dry tonnes of copper-gold concentrate and the first shipment of the Didipio concentrate is another significant milestone for the operations team. The process plant continues to ramp up well and recoveries of copper are approaching steady-state expectations. Gold recoveries are also increasing and will be further boosted as the gold head grade increases. As we further optimise the transportation logistics combined with regular outbound shipments to smelters, we expect to be in a position to announce commercial operations during this quarter."
About OceanaGold
OceanaGold Corporation is a significant multinational gold producer with
projects located on the South Island of New Zealand and in the
Philippines. The Company's assets encompass New Zealand's largest gold
mining operation at the Macraes goldfield in Otago which is made up of
the Macraes Open Pit and the Frasers Underground mines. Additionally on
the west coast of the South Island, the Company operates the Reefton
Open Pit mine. The Company's Didipio Mine in northern Luzon,
Philippines is in commissioning and is expected to produce 100,000
ounces of gold and 14,000 tonnes of copper per year on average over an
estimated 16 year mine life. OceanaGold expects to produce 285,000 to
325,000 ounces of gold in FY2013 from the New Zealand and Philippine
operations combined.
OceanaGold is listed on the Toronto, Australian and New Zealand stock exchanges under the symbol OGC.
Cautionary Statement
Statements in this release may be forward-looking statements or
forward-looking information within the meaning of applicable securities
laws. 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 such as production forecasts are
subject to a variety of risks and uncertainties which could cause
actual events or results to differ materially from those reflected in
the forward-looking statements. They include, among others, 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 such forward-looking statements and, subject to applicable
securities laws, the Company undertakes no obligation to update such
statements. Such forward-looking statements 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. Accordingly, readers should not place undue
reliance on forward-looking statements. The information contained in
this release is not investment or financial product advice.
SOURCE: OceanaGold Corporation
OceanaGold Corporation
Investor Relations - Melbourne
Nova Young or Darren Klinck
Tel: +61(3) 9656 5300
Investor Relations - Toronto
Sam Pazuki
Tel: +1 416 915 3123