Press release from CNW Group
OceanaGold December 2013 convertible bond maturity
Thursday, December 19, 2013
OceanaGold December 2013 convertible bond maturity17:22 EST Thursday, December 19, 2013
/NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES./
MELBOURNE, Dec. 20, 2013 /CNW/ - OceanaGold Corporation (ASX: OGC) (TSX: OGC) (NZX: OGC) (the "Company") announces the maturity and repayment of the December 2013, 7% convertible bond.
The principal amount of A$110 million has been repaid in full and was financed through cash and the term facility specifically provided for this repayment which was put in place and announced on 21 August 2012. The term facility was provided by a multinational banking syndicate made up of Citibank N.A, Barclays Bank plc, BNP Paribas, HSBC and Nedbank Capital.
The Company has no outstanding convertible bonds.
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. The Company's Didipio Mine in northern Luzon, Philippines commenced commercial production on April 1, 2013 and is expected to produce 100,000 ounces of gold and 14,000 tonnes of copper per year on average over an estimated 16 year mine life. OceanaGold expects to produce 285,000 to 325,000 ounces of gold in 2013 from the New Zealand and Philippine operations combined and 18,000 to 20,000 tonnes of copper in 2013 from the Philippine operations.
OceanaGold is listed on the Toronto, Australian and New Zealand stock exchanges under the symbol OGC.
Statements in this release may be forward-looking statements or forward-looking information within the meaning of applicable securities laws. 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 or results to differ materially from those reflected 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 such forward-looking statements and, subject to applicable securities laws, the Company undertakes no obligation to update such 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. Accordingly, readers should not place undue reliance on forward-looking statements. The information contained in this release is not investment or financial product advice.
SOURCE OceanaGold Corporation
For further information:
Investor Relations - Melbourne
Tel: +61(3) 9656 5300
Investor Relations - Toronto
Tel: +1 416 915 3123
firstname.lastname@example.org | www.oceanagold.com