OceanaGold first-half profit almost triples on gold price recovery, increased output

Thu, 28 Jul 2016

By Jonathan Underhill July 29 (BusinessDesk) - OceanaGold posted a 174 percent gain in first-half profit, reflecting a recovery in the price of gold and increased production that reflected the contribution from the Waihi mine acquired last year. Profit rose to US$63 million, or 10 cents a share, in the six months ended June 30, from US$23.4 million, or 8 cents, a year earlier, the Melbourne-based gold and copper miner said in a statement. Sales climbed about 30 percent to US$331 million while cost of sales rose a more modest 14 percent to...

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