NOT FOR DISSEMINATION OR DISTRIBUTION IN
THE UNITED STATES AND NOT FOR
DISTRIBUTION TO US NEWSWIRE SERVICES.
MELBOURNE, Oct. 4, 2016 /CNW/ - Following its news release
on September 27, 2016, OceanaGold
Corporation (TSX/ASX/NZX: OGC) (the "Company") wishes to
provide an update on the status of the Philippines Department of
Environment and Natural Resources (DENR) audit "findings" related
to the Didipio Gold-Copper Mine ("Didipio Mine").
Over the past several days following the DENR press conference,
the Company has engaged directly with the DENR Secretary
Gina Lopez and other senior
government officials to gain clarity on the findings identified
with respect to the Didipio operation. Discussions with government
officials including Sec. Lopez have been constructive and the
Company will continue to engage with all stakeholders to
demonstrate the many achievements and attributes of its operations
in country and the significant benefits the mine has delivered thus
far to its communities.
Mick Wilkes, President and CEO
commented from Manila, "I am
highly confident that our Didipio operations will continue to
operate without interruption as the Didipio Mine sets the benchmark
for responsible mining based on international best practices and
serves as the template for the type of operation that President
Duterte and his administration are seeking for all mining
operations in the Philippines as
they advance a responsible mining sector."
The Didipio operation continues to operate without interruption
and the Company firmly maintains its 2016 production and cost
guidance for the operation.
About OceanaGold
OceanaGold Corporation is a mid-tier, low-cost, multinational
gold producer with assets located in the
Philippines, New Zealand
and the United States. The
Company's assets encompass its flagship operation, 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 is currently constructing the Haile Gold
Mine, a top-tier asset located in South
Carolina along the Carolina Terrane. The Company expects the
Haile Gold Mine to commence commercial production in early 2017.
OceanaGold also has a significant pipeline of organic growth and
exploration opportunities in the Australasia and Americas
regions.
OceanaGold has operated sustainably over the past 25 years 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.
In 2016, the Company expects to produce 385,000 to 425,000
ounces of gold from the combined New
Zealand and Didipio operations and 19,000 to 21,000 tonnes
of copper from the Didipio operation at All-In Sustaining Costs of
US$700 to US$750 per ounce.
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 outcome of the DENR audit and its impact on the
Didipio operation, generation of free cash flow, execution of
business strategy, 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 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.
SOURCE OceanaGold Corporation