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MELBOURNE, June 21, 2017 /CNW/ - OceanaGold Corporation (TSX/ASX: OGC) (the "Company") is pleased to announce the appointment of Scott McQueen to the role of Chief Financial Officer. Mr. McQueen has over 25 years of experience in finance and general management in the energy and mining sectors. He is a Certified Professional Accountant with a Bachelor's Degree in Accounting and Economics from Monash University and a Master's Degree in Tax Law from Melbourne University. Mr. McQueen joined OceanaGold in 2016.
Mark Chamberlain, current Chief Financial Officer has been appointed Executive Vice President, Corporate Development and will relocate from Australia to Canada following the departure of Darren Klinck, Executive Vice President, Corporate Development to pursue his career in the industry.
Mick Wilkes, OceanaGold President and CEO said, "I thank Darren for his invaluable contribution to OceanaGold over the past 10 years. He has been an instrumental part of the leadership team and a consummate professional who helped put the Company on the map in North America and led the Corporate Development team over the past several years through two significant acquisitions."
Mr. Wilkes added, "I am also pleased to welcome Scott McQueen to the Executive Management Committee at OceanaGold where his strong experience and background will be a valuable addition to the leadership team. I also wish to thank Mark Chamberlain for playing a pivotal role as Chief Financial Officer, where he restructured the Company's debt structure and helped strengthen our balance sheet over the past several years. His strong financial acumen and experience will serve him and the team well in Corporate Development."
OceanaGold Corporation is a mid-tier, high-margin, multinational gold producer with assets located in the Philippines, New Zealand and the United States. The Company's assets encompass its flagship operation, the Didipio Gold-Copper Mine located on the island of Luzon in the Philippines. On the North Island of New Zealand, the Company operates the high-grade Waihi Gold Mine while on the South Island of New Zealand, the Company operates the largest gold mine in the country at the Macraes Goldfield which is made up of a series of open pit mines and the Frasers underground mine. In the United States, the Company is currently commissioning the Haile Gold Mine, a top-tier asset located in South Carolina. The Company expects the Haile Gold Mine to commence commercial production in the third quarter of 2017. OceanaGold also has a significant pipeline of organic growth and exploration opportunities in the Americas and Asia-Pacific regions.
OceanaGold has operated sustainably over the past 27 years with a proven track-record for environmental management and community and social engagement. The Company has a strong social license to operate and works collaboratively with its valued stakeholders to identify and invest in social programs that are designed to build capacity and not dependency.
In 2017, the Company expects to produce 550,000 to 610,000 ounces of gold and 15,000 to 17,000 tonnes of copper with sector leading All-In Sustaining Costs that range from $600 to $650 per ounce sold.
Cautionary Statement for Public Release
Certain information contained in this public release 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 generation of free cash flow, execution of business strategy, future growth, future production, estimated costs, 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 are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those expressed in the forward-looking statements and information. They include, among others, the accuracy of mineral reserve and resource estimates and related assumptions, inherent operating risks, sovereign risks, risk of suspension 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 and information. Such forward-looking statements and information 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. Although the Company believes that any forward-looking statements and 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 statements and information, whether as a result of new information, events or otherwise, except as required by applicable securities laws. The information contained in this release is not investment or financial product advice.
SOURCE OceanaGold Corporation
For further information: Investor Relations: Sam Pazuki, Tel: +1 416 915 3123; Jeffrey Sansom, Tel: +61 3 9656 5300, [email protected] | www.oceanagold.com | Twitter: @OceanaGold