Oceana operating profit up despite paper loss

AFTER completing its merger with Climax Mining, Oceana Gold has reported an operating profit after tax of $11 million for the calendar year 2006, up 725% from the previous year.

Oceana operating profit up despite paper loss Oceana operating profit up despite paper loss Oceana operating profit up despite paper loss Oceana operating profit up despite paper loss Oceana operating profit up despite paper loss

The company's earnings increase came despite an on-paper loss of $106 million due to unrealised hedge losses and impairment of goodwill on the Climax acquisition.

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