Oceana Gold has posted a slight decline in its ''proven and probable'' gold and copper reserves across its four operating mines, but remains confident it can extend the mine life of its Macraes and Waihi operations in New Zealand.
The fourth mine, Haile, in South Carolina, is transitioning from development to full commercial gold production in coming weeks, initially operating an open pit, but with an eye to going underground.
Elsewhere, Oceana is maintaining a portfolio of small exploration joint ventures, ranging from Australia and Nevada to New Zealand, Laos and Myanmar.
Oceana's chief executive Mick Wilkes said that during 2016 the company had completed its most extensive exploration programme in its 27-year history.
''In New Zealand ... we remain committed to expanding our exploration efforts to increase [gold] resources and achieve mine life extensions at both Waihi and Macraes,'' he said in a statement.
When looking at the combined proven and probable resources across all four mines, Mr Wilkes said the reserves stood at 5.04millionoz of gold, 5millionoz of silver and 180,000 tonnes of copper.
The data reflected ''slight decreases'' in gold and copper compared with a year ago, due to mine depletion, but Mr Wilkes said that was partly offset by increased reserve replacement in New Zealand.
He noted silver reserves had increased by 12%, due to revised estimates of content in existing ore stockpiles.
This calendar year Oceana had predicted it will produce more than 500,000 oz of gold for the first time, having set a target of 550,000 - 610,000 oz.
At Macraes the proven and probable reserves stood at 1.22 million oz of gold, including 140,000 oz from the underground Frasers mine, with drilling programme finds at Coronation and Coronation North offsetting gold depletion from mining.
Drilling this year is targeting extensions to known mineralisation at the prospects Coronation and Coronation North and at Golden Point.
At Waihi, its proven and probable reserves, from combined pit and underground, stood at 350,000oz gold and 1.31millionoz of silver.
Last year Oceana did more than 35,000m of surface and underground test drilling and defined a ''significant exploration target'' below the existing Martha pit, which is now the key exploration focus to potentially increase and upgrade the gold and silver resource base.
In a recent update, following release of Oceana's proven and probable reserves, the company outlined its other projects around the world, including the US, New Zealand, El Salvador, Nevada and Australia.
In Nevada, Oceana has since May 2015 been buying and selling shares in Gold Standard Ventures Corp, which describes itself an advanced stage gold exploration company. Oceania now holds a 16.55% stake.
Since 2009 Gold Standard had consolidated the second largest contiguous land package, of 208sqkm, around the gold bearing Carlin Trend, and made discoveries at several prospects: North Bullion in 2010, Bald Mountain, 2013 and North Dark Star in 2015.
Gold Standard had recently announced an extensive 48,800m drill programme for 2017.
At Sams Creek, in the northwest of the South Island, Oceana now holds a 20% stake in a joint venture with ASX-listed MOD Resources, whose exploration programme had earned it an 80% stake in Sams Creek, which included an Oceana subsidiary being issued 17million MOD shares.
Exploration in the area neighbouring the Kahurangi national park, New Zealand's second largest, was described at ''encouraging''.
In Nevada, Oceana maintains a 17% stake in explorer NuLegacy Gold Corp, initially costing about $C6.6million, and maintains a ''first offer to negotiate'', should a joint venture be formed to finance the prospect Iceberg Project, within the Cortez gold trend in Nevada.
Oceana holds 34.9% of Canadian explorer Locrian Resources Inc, building from an initial stake of 13.5% for $C1million. Locrian's exploration activities are mainly in Laos and Myanmar.
In El Salvador, at the El Dorado prospects, Oceana and Pacific Rim, which it purchased in November 2013, have settled with the Government there for $US8million, over the Government having not issued Pacific Rim a mining licence. The Government won its case at arbitration.
Oceana was not able to renew any Salvadorean licences and previously granted licences expired. The estimated gold resources at El Dorado have been removed from Oceana's resource inventory.
At Reefton on the South Island's West Coast, Oceana is finalising plans to close the mine, which was mothballed in May 2016, and is still in talks with the Department of Conservation, landholders and the Reefton township.
While Didipio in the northern Philippine Island of Luzon is Oceana's mainstay operation there, it has other interest in the region, including 11 granted tenements, 10 of which are being considered for renewal by a government department.
Oceana still has a interest in an unincorporated joint venture for a gold project near Orange in Australia, but that is operationally ''dormant''
