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OceanaGold Corporation (ASX:OGC, TSE:OGC, NZX:OGC) has achieved record earnings in the first quarter of the current calendar year on the back of a jump in gold production.
The Philippines and New Zealand focussed gold producer’s net profit surged to $58.9 million in the March quarter while quarterly revenue hit $170.4 million.
Managing Director and CEO Mick Wilkes says the company had another strong quarter of production and financial results. Mr Wilkes also highlighted record quarterly revenue, EBITDA and net earnings on the back of stronger sales and lower operating costs.
Shares in OceanaGold fell 3.91 per cent to close at $2.46 in Australia before the announcement was made but advanced more than 12 per cent in Canada following the news.
OceanaGold booked a net loss of $53.5 million in the 2013 calendar year.
