/NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO
US NEWSWIRE SERVICES./
MELBOURNE, Australia,
March 23, 2020 /CNW/
- OceanaGold Corporation (TSX: OGC) (ASX: OGC) (the "Company")
wishes to update the market on the response to COVID-19 measures
being put in place by the New Zealand Government.
On Monday 23 March 2020 New
Zealand Prime Minister, Jacinda
Ardern, announced a COVID-19 alert level three, with the
Government's highest response, alert level four, to be implemented
from 11.59pm on Wednesday
25 March 2020. Alert level four
requires businesses not exempt as essential services or lifeline
utilities to close for an initial period of four weeks.
From 11.59pm Wednesday
25 March 2020, The Waihi Operation in
the North Island of New Zealand
will temporarily suspend the ongoing development of the Martha
Underground Mine and go into care and maintenance for the duration
of the four-week mandated closure.
The Company is working with the New Zealand Government to
determine what exemptions may be available for the Macraes
Operation in the South Island of New
Zealand.
OceanaGold Corporation's Acting President and CEO, Michael Holmes, said the Company was supportive
of the government's aim to protect the health and safety of all New
Zealanders.
"We recognise strong decisions will be made to slow down the
spread of COVID-19", Mr Holmes said. "We will work with the
Government to support the health and safety of the communities
where we work and live."
The Company will provide the market with another update when we
have more information.
More information about New
Zealand's alert levels and measure is available at
https://covid19.govt.nz/government-actions/covid-19-alert-system/
Authorised for release to market by OceanaGold Corporate Company
Secretary, Liang Tang.
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.
For 2020, the Company expects to produce between 360,000 and
380,000 ounces of gold from Haile, Waihi and Macraes combined at a
consolidated All-In Sustaining Costs ranging from $1,075 to $1,125
per ounce sold.
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, 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 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