Oceana Gold shares continue their recent rise, gaining more than 11% yesterday as investors maintained interest in gold prices and stocks.
Having eased back from the record $US1226 ($NZ1536) on December 3, global spot gold prices eased overnight slightly on Tuesday to yesterday trade around $US1117 on the Comex division of the New York stock exchange.
During the past two days, Oceana's shares had gained more than 11% in value, trading up from $2.18 to around $2.42 yesterday, Craigs Investment Partners broker Peter McIntyre said.
"The gold story is still largely intact.
Investors are now looking at smaller companies and seeing potential more so than the larger capitalised companies," Mr McIntyre said.
Mr McIntyre attributed Oceana's gains to a "raft of positive pre-Christmas news", such as an extended estimate of its gold resources at Macraes and indications of an extension to overall mine life of 14 or 16 years.
