OceanaGold Achieves Record 2014 Net Profit of US$111.5 Million

OceanaGold Corp. (TSX:OGC,ASX:OGC) announced its financial and operational results for Q4 2014, as well as 2014 as a whole. The company recorded annual revenue of US$563.3 million, a new record, and net profit of US$111.5 million, also a record.

Other highlights include:

• Declared a dividend of US$0.04 per Common Share or CDI for 2014, reflecting the strong performance in 2014.
• Exceeded 2014 consolidated production guidance range with 307,463 ounces of gold and 25,010 tonnes of copper produced.
• Achieved record quarterly gold production at Didipio with 34,783 ounces produced in the fourth quarter.
• Strengthened the balance sheet through total debt repayment of US$77.4 million while increasing cash position by US$26.4 million to US$51.2 million.
• Delivered sector leading low cash costs of US$418 per ounce and All-In Sustaining Costs (‘AISC’) of US$785 per ounce, both net of by-product credits and within the cost guidance range.
• Increased Didipio process plant throughput rate to the planned 3.5 million tonnes per annum.
• Continued strong improvement in annual safety performance across the Company’s operations.

Click here to read the full OceanaGold Corp. (TSX:OGC,ASX:OGC) press release.