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MELBOURNE, July 30, 2014 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) (NZX: OGC) ("the Company") is pleased to announce the appointment of Paul B. Sweeney to the Company's Board of Directors.
Mr. Sweeney will take the place of Jake Klein, following his resignation effective 30 July 2014. Mr. Klein was appointed Non-Executive Director in December 2009.
Mr. Sweeney will join the Board on 30 July 2014, and brings with him substantial international experience across mining and renewable energy industries. An independent business consultant since May 2011, he is currently on the board of a number of Canadian listed public companies including Tahoe Resources, Inc.
In reporting these changes, the Company's Chairman, Mr. Jim Askew, said:
"On behalf of the Board, OceanaGold is very grateful for Jake's service over a period of great change for the Company and during a period when he was also deeply involved personally with the creation of the Company he chairs, Evolution Mining Limited."
"Paul is an immensely experienced finance and mining executive, and more latterly, company director. With OceanaGold's increasing interest in international growth, Paul's broad international experience will be invaluable."
OceanaGold Corporation is a significant multinational gold producer with mines located on the South Island of New Zealand and in the Philippines. The Company's assets encompass New Zealand's largest gold mining operation at the Macraes goldfield in Otago which is made up of the Macraes Open Pit and the Frasers Underground mines. Additionally, on the west coast of the South Island, the Company operates the Reefton Open Pit mine. OceanaGold's Didipio Mine in northern Luzon, Philippines commenced commercial production on 1 April 2013 and is expected to produce 100,000 ounces of gold and 14,000 tonnes of copper per year on average over the next 15 years. In 2014, the Company expects to produce 275,000 to 305,000 ounces of gold from the combined New Zealand and Philippine operations and 21,000 to 24,000 tonnes of copper from the Philippine operations.
OceanaGold is listed on the Toronto, Australian and New Zealand stock exchanges under the symbol OGC.
Cautionary Statement for Public Release
Certain information contained in this public release, including any information relating to the Company's future financial or operating performance may be deemed "forward-looking" within the meaning of applicable securities laws. Forward-looking statements and information relate to future performance and reflect the Company's expectations regarding the future growth, results of operations, business prospects and opportunities of OceanaGold Corporation and its related subsidiaries. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements such as production forecasts are subject to a variety of risks and uncertainties which could cause actual events, performance, achievements or results to differ materially from those expressed in the forward-looking statements. They include, among others, the accuracy of mineral reserve and resource estimates and related assumptions, inherent operating risks and those risk factors identified in the Company's most recent Annual Information Form prepared and filed with securities regulators which is available on SEDAR at www.sedar.com under the Company's name. There are no assurances the Company can fulfil forward-looking statements. Such forward-looking statements are only predictions based on current information available to management as of the date that such predictions are made; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control. Some of these risks and uncertainties include: general economic and market factors (including changes in global, national or regional financial credit, currency or securities markets); changes or developments in global, national or regional political conditions (including any act of terrorism or war); changes in laws (including tax laws) and changes in GAAP or regulatory accounting requirements; fluctuations in the price of gold; inability to obtain required consents, permits or approvals; and other risk factors as outlines in the Company's annual and interim filings. Readers are cautioned that the foregoing list of factors is not exhaustive. Although the Company believes that any forward-looking information contained in this press release is based on reasonable assumptions, readers cannot be assured that actual outcomes or results will be consistent with such statements. Accordingly, readers should not place undue reliance on forward-looking statements and information. The Company expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise, except as required by applicable securities laws. All forward looking information contained in this public release is qualified by this Cautionary Statement. The information contained in this release is not investment or financial product advice.
SOURCE: OceanaGold Corporation
For further information: OceanaGold Corporation, Investor Relations - Toronto, Sam Pazuki, Tel: +1 416 915 3123; Media Relations - Melbourne, Andrea Atell, Tel: +61(3) 9656 5300, [email protected], www.oceanagold.com, Twitter: @OceanaGold