OceanaGold (ASX:OGC;TSX:OGC) has transitioned to a multinational gold producer, with commercial production declared at its Didipio gold mine in the Philippines.
The effective date of commercial production is as at 1 April 2013. Site construction started in June 2011 and the company has moved to becoming a producer within 22 months.
To date moe than 22,000 tonnes of copper gold concentrate has already been produced.
Its production guidance for 2013 taking into account commercial production starting at Didipio remains unchanged with production at Didipio at between 50,000-70,000 ounces og gold at 15,000-18,000 tonnes of copper.
Its guidance of its New Zealand operations, that includes the country's largest gold mining operation at the Macraes goldfield in Otago, is at between 235,000-255,000 ounces gold at cash costs of US$880 to US$950 per ounce.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.