OceanaGold reports FY loss of US$47.9 mln on further NZ assets writedown

Thu, 20 Feb 2014

By Suze Metherell Feb. 21 (BusinessDesk) – OceanaGold Corp, the Melbourne-based mining group, reported a net loss of US$47.9 million for calendar 2013, as the company wrote down its New Zealand assets in the face of a declining gold price, offsetting a 44 percent gain in revenue. Revenue was US$553.7 million for the 12 months ended Dec. 31, up from US$385.4 million a year earlier, the company said in a statement. A US$193.3 million impairment charge walloped the company’s bottom line, as the company revalued its New Zealand assets. Impairme...

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