Canadian Mining Journal

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OceanaGold is firing on all cylinders

There aren’t many companies in the mining sector these days that are able to pay off large chunks of debt from operating cash flow and embark on sizable acquisitions at the same time. OceanaGold (TSX: OGC) is one of them.



There aren’t many companies in the mining sector these days that are able to pay off large chunks of debt from operating cash flow and embark on sizable acquisitions at the same time. OceanaGold (TSX: OGC) is one of them.

Despite the significant drop in commodity prices in recent years, the company has managed to repay US$162 million of debt, de-levering from US$267 million in 2012 to US$105 million at the end of the first quarter of 2015.

OceanaGold generated US$19.4 million in free cash flow during the three months ended March 31 from its three operating gold mines: Didipio in the northern Philippines, and Macraes and Reefton on the South Island of New Zealand.

The second quarter has been all about acquisitions. …

Read the complete article at NorthernMiner.com/news/oceanagold