Oceana Gold

Executive belts a few notches out

Executive belts a few notches out

Belt-tightening at Oceana Gold appears not to have reached all levels of the workforce, with the combined total remuneration to its top five executives up almost 40% last year, to $US4.36 million ($NZ5.81 million).

Oceana Gold buys stake in Nevada prospector

Cash-rich Oceana Gold has bought a 14.9% stake in Canadian gold exploration company Gold Standard Ventures Inc which is exploring for gold in northern Nevada.

Oceana spending $8m on Macraes search

Oceana Gold has indicated exploration is continuing at its mainstay Macraes site in East Otago, and spending has been boosted to $8 million during the next two years.

Oceana starts to wind down NZ mines

Oceana starts to wind down NZ mines

The new year could herald the beginning of the end of Oceana Gold's New Zealand operations, with the winding down of some West Coast and Otago production.

Degree of optimism at Macraes

Degree of optimism at Macraes

There appears to be a degree of optimism among 70 Oceana Gold employees, despite learning yesterday they are to lose their jobs at the Macraes gold mine.

Oceana Gold production, cost-cutting having effect

Oceana Gold production, cost-cutting having effect

Cost savings across Oceana Gold's operations, including about 150 recent redundancies, appear set to flow through its balance sheet.

Hedging of gold price resumed

Oceana Gold's share price remains volatile as it re-enters a partial forward hedging programme covering some gold production during the next two years.

Potential for damage as Oceana deliberates

Potential for damage as Oceana deliberates

The wait for more information about the scale of Oceana Gold's cutbacks may be damaging local contractors' businesses, a Dunedin business leader says.

Oceana moves to shield itself

Oceana Gold, the operator of the East Otago Macraes gold project, is attempting to shield itself from further gold-price falls by introducing a ''collar'' around the price it will receive for gold over the next two years.

Oceana tips 'strong finish' to year

Oceana tips 'strong finish' to year

After a troubled start to its calendar financial year East Otago-based Oceana Gold is reaping benefits from cost savings and predicting a ''strong finish'' to the year, underpinned by better-than-expected copper production from ramping up its Philippines gold-copper mine.

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