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OceanaGold hits record gold production at Didipio operations, net profit remains stable YOY

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OceanaGold hits record gold production at Didipio operations, net profit remains stable YOY

OceanaGoldCorp. achieved consolidated gold production of 122,782 ounces inthe first quarter, with record quarterly gold production of 46,811 ounces atthe Didipio operationin the Philippines.

Gold production in the previous quarter was 119,500 ounces,the company said April 28.

Copper production in the quarter increased to 5,972 tonnes,from 5,591 tonnes in the fourth quarter of 2015.

The consolidated all-in sustaining costs totaled US$716 perounce and cash costs totaled US$436 per ounce on sales of 117,387 ounces ofgold and 4,745 tonnes of copper.

In the previous quarter, cash costs stood at US$441 perounce on sales of 125,246 ounces of gold and 5,597 tonnes of copper.

OceanaGold posted a net profit for the quarter of US$23.5million, or 4 cents per share, compared to US$24.5 million, or 8 cents apiece,a year ago.

Sales for the quarter increased to US$161.1 million in thequarter, compared to US$129.3 million in the prior-year quarter.