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MELBOURNE, Oct. 26, 2016 /CNW/ - OceanaGold Corporation (TSX/ASX/NZX: OGC) (the "Company") announces with great sorrow that James Denham Shale, Lead Non-Executive Director of the Company's Board of Directors, passed away suddenly on October 24, 2016.
Denham was a practicing lawyer in New Zealand where he was previously the Chairman of Kensington Swan, a leading New Zealand law firm. Denham was appointed as a Director of OceanaGold Limited in February 2004 and in 2007, following the merger between OceanaGold and Climax Mining, Denham was appointed as the Lead Non-Executive Director of OceanaGold Corporation. Over the past 25 years, Denham served on the board of a number of other prominent Australian and New Zealand listed companies. He was also a past President and a Distinguished Fellow of the Institute of Directors in New Zealand.
Jim Askew, Chairman of the Board of Directors said, "We are all deeply saddened by the unexpected passing of Denham. He was an architype gentleman and a very highly respected member of the Board, whose contribution, invaluable advice, guidance and friendship will be sorely missed by everyone. On behalf of the Board of Directors, management and everyone at the Company, we extend our thoughts and deepest sympathies to Denham's family and friends. He will be greatly missed."
Mr. Askew added, "On a personal note, Denham was one of the most consummate company directors I've ever had the good fortune to work with, he never shirked the challenges which inevitably occur in public life, drew great joy from the wonderful community development and environmental successes of OceanaGold and was a constant strength to all who had the privilege to serve with him. I will miss him very much."
OceanaGold Corporation is a mid-tier, low-cost, 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 constructing the Haile Gold Mine, a top-tier asset located in South Carolina along the Carolina Terrane. The Company expects the Haile Gold Mine to commence commercial production in early 2017. OceanaGold also has a significant pipeline of organic growth and exploration opportunities in the Asia-Pacific and Americas regions.
OceanaGold has operated sustainably over the past 26 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 2016, the Company expects to produce 385,000 to 425,000 ounces of gold from the combined New Zealand and Didipio operations and 19,000 to 21,000 tonnes of copper from the Didipio operation at All-In Sustaining Costs of US$700 to US$750 per ounce.
SOURCE OceanaGold Corporation