Oceana Gold's new Coronation open pit development at its
Macraes site in East Otago is progressing towards production,
but the estimated 100,000 ounces of gold it contains will not
extend the overall Macraes mine life.
Toronto-listed oil and gas explorer Tag Oil (NZ) could be
test-drilling an onshore oil and gas prospect near Oamaru
within 12 to 24 months, having secured a five-year extension
to its existing Canterbury Basin exploration permit.
The waning inflation rate now has some analysts predicting
the Reserve Bank will not raise the interest-driving 3.5%
official cash rate (OCR) until after March 2016, at the
earliest, and another saying a rise could be two years away.