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“The Haile operation is cash flow positive and operating costs have been generally in-line with expectations although mining unit costs are slightly higher due to lower productivity during this ramp up phase,” OceanaGold said.
OceanaGold will report production statistics later this month.
Haile yielded first gold in January, with plant throughput disappointing in the second quarter.
The operation is expected to produce between 200,000 and 300,000 ounces annually, with production at the upper end of the range reached with the addition of an underground operation.
Development of an underground mine is anticipated to begin next year.
The all-in sustaining cost target from Haile has been quoted at around the US$500-600 per ounce mark.
OceanaGold acquired the project in 2015 with its scrip takeover of Canadian company Romarco via a C$856 million transaction.
OceanaGold shares are up about 60% on levels back in July 2015 when the transaction was announced.
Shares in OceanaGold closed Wednesday at A$3.86, capitalising the company at $2.34 billion.
