OceanaGold Reports 2015 Financial Results and Dividend

OceanaGold Corp. (TSX:OGC,ASX:OGC) announced its financial and operational results for the full 2015 year. The company posted a net profit of $53.1 million, including $22.6 million for Q4.
Other highlights are as follows:

• Declared second annual dividend payment of US$0.04 per common share or CDI for 2015, reflecting continued strong performance.
• Reported revenue of $508 million with an EBITDA of $194 million for 2015 including revenue of $144 million and EBITDA of $57.6 million for the fourth quarter.
• Entered into agreements a restructured $250 million revolving credit facility with substantially lower margins and longer tenure than the previous credit facility.
• Subsequent to the year end, entered into diesel hedging contracts covering 90% of the expected consumption of the group in 2016 and 2017.
• Subsequent to the year end, executed an additional zero cost collar hedging program for the remainder production at Macraes in 2016 and 2017.
• Subsequent to the year end, the Company announced that it had increased its equity stake in Gold Standard Ventures (“GSV”) to 19.9%.

Mick Wilkes, president and CEO of OceanaGold, commented:

As a result of our strong operating and financial performance in 2015 and continued positive outlook for 2016, we are very pleased to announce our second annual dividend. This dividend demonstrates the robustness of our business and our commitment to enhance shareholder wealth. The Company is transforming into an industry leading, low cost, mid-tier gold miner. With a strong financial position and high operating margins, our business is moving from strength to strength as we invest in further growth this year.

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