OceanaGold to boost coffers with placement

OceanaGold Corp., operators of the Macraes gold mine, had its shares halted from trading pending a placement.

The company gave no immediate details of the size of the capital raising in its statement to the NZX. Shares of the gold miner have soared 258% in the past six months.

In answer to an ASX price query on its share price gain in May, OceanaGold reiterated that 2009 was expected to be a record year for gold production, while the company was benefiting from higher prices for gold and higher valuations for some of its peers.

The shares traded at $1.45 on the NZX yesterday, giving the company a market value of $452 million. Gold futures for August delivery gained 1.2% to US$948.80 an ounce on the New York Mercantile Exchange on Monday.

Businesswire.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

OceanaGold to buy Pacific Rim Mining for C$10.2M to gain control of El Dorado Gold Project
OceanaGold takes US$85.5M impairment as gold price falls
Plunging gold price prompts OceanaGold Corp to put off production at its Reefton mine
OceanaGold full year profit falls, despite Q4 uplift; shares dip
OceanaGold to lift gold output as Didipio comes on stream
OceanaGold to raise up to C$108M
OceanaGold dips into red in 3Q as margins squeezed
OceanaGold's Blackwater drilling results consistent with past production
OceanaGold shares reach 22-month high as Didipio start looms
OceanaGold 2Q profit plunges 82% on falling gold prices