OceanaGold shares halted from trading for 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

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