Oceanagold Amends Revolving Credit Facility
1
MEDIA RELEASE
25 November 2019
OCEANAGOLD AMENDS REVOLVING CREDIT FACILITY
(MELBOURNE) OceanaGold Corporation (TSX: OGC / ASX: OGC) (the “Company”) is pleased to announce
it has amended its existing $200 million Revolving Credit Facility (“Facility”) with its banking partners:
Scotiabank, Citi, HSBC, Commonwealth Bank of Australia, Natixis and BNP Paribas.
The key changes include the elimination of the 2019 amortisation or “step-down” with the Facility remaining
at $200 million , combined with an extension of the Facility now maturing in December 31, 2021 . All other
conditions remain unchanged and repayment of any drawn amount prior to maturity remains at the
Company’s discretion.
Mick Wilkes, President and CEO of OceanaGold said, “The amendments to the credit facility reflect the strong
confidence that our lenders have in our business. We are pleased to extend our long-standing partnership
with our multinational bank group, the majority of whom have partnered with OceanaGold for many years.”
“We are excited about our growth opportunities, particularly at the Waihi Gold Mine in New Zealand where
we are transitioning from the existing Correnso Underground to the Martha Underground. We expect a 12-
month gap in production from when Correnso finishes in early 2020 to the start of production from the new
Martha Mine, marking a new era for the bountiful Waihi operation. In addition, the Waihi district study, due
out in the first half of 2020, will outline the broader value creation opportunity that exists for investors and
other stakeholders.”
“We continue to achieve solid exploration results from Martha Underground , where w e have grown t he
Martha Underground resource from zero only a few years ago to 331,000 ounces in M&I and 667,000 in
Inferred. In addition, we are targeting another 8 to 10 million tonnes grading 4 to 6 grams per tonne. Drilling
also continues north of Waihi at Wharekirauponga (WKP) where more recently, drilling of the East Graben
vein intersected a stunning 25 metres @ 38.7 g/t gold. We expect to release a new expanded resource at
WKP in the next few months.”
“There is no doubt it has been a challenging year for the Company, but we still have a great business and
continue to work hard to deliver the consistent positive performance and returns that we have delivered for
so many years.”
“In the Philippines we have been working with Government and regulatory authorities on the Financial or
Technical Assistance Agreement (FTAA) renewal since March 2018, and our regulators have endorsed the
renewal back to the Office of the President, based on our full compliance with the FTAA terms and conditions.
Although it has taken some time, we have good engagement and support from the Government of the
Philippines and continue to see progress . Our Didipio Mine is a template for responsible mining in the
2
Philippines and globally , delivering exceptional operating performance, safety, environmental performance
and support from the local community.”
Our Haile Gold Mine is a great asset and we are in the process of making it a n outstanding asset. It hasn’t
been without its challenges however we have strong operational leadership in place that will continue to drive
improvements by increasing productivities and reducing our cost base while continuing to expand the mine.
We continue to expect higher production and better performance in the fourth quarter at Haile.”
- ENDS -
For further information please contact:
Investor Relations Media Relations
Sam Pazuki
Tel: +1 720 602 4880
Melissa Bowerman
Tel: +61 459 900 099
www.oceanagold.com | Twitter: @OceanaGold | [email protected]
About OceanaGold
OceanaGold Corporation is a mid -tier, high-margin, multinational gold producer with assets located in the
Philippines, New Zealand and the United States. The Company’s assets encompass the Didipio Gold-Copper
Mine located on the island of Luzon in the Philippines. On the North Island of New Zealand, the Company
operates the high-grade Waihi Gold Mine while on the South Island of New Zealand, the Company operates
the largest gold mine in the country at the Macraes Goldfield which is made up of a series of open pit mines
and the Frasers underground mine. In the United States, the Company operates the Haile Gold Mine, a top-
tier, long-life, high-margin asset located in South Caroli na. OceanaGold also has a significant pipeline of
organic growth and exploration opportunities in the Americas and Asia-Pacific regions.
OceanaGold has operated sustainably since 1990 with a proven track-record for environmental management
and community a nd social engagement. The Company has a strong social license to operate and works
collaboratively with its valued stakeholders to identify and invest in social programs that are designed to build
capacity and not dependency.
In 2019, the Company expects to produce between 460,000 to 480,000 ounces of gold and 10,000 to 11,000
tonnes of copper at All-In Sustaining Costs ranging between $1,040 and $1,090 per ounce sold.
Cautionary Statement for Public Release
Certain information contained in this public release may be deemed “forward -looking” within the meaning of
applicable securities laws. Forward -looking statements and information relate to future performance and
reflect the Company’s expectations regarding the generation of free cash flow, execution of business
3
strategy, future growth, future production, estimated costs, results of operations, business prospects and
opportunities of OceanaGold Corporation and its related subsidiaries. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or
future events or performance (often, but not always, using words or phrases such as "expects" or "does not
expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that
certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are
not statements of historical fact and may be forw ard-looking statements. Forward -looking statements are
subject to a variety of risks and uncertainties which could cause actual events or results to differ materially
from those expressed in the forward -looking statements and information. They include, amo ng others, the
accuracy of mineral reserve and resource estimates and related assumptions, inherent operating risks and
those risk factors identified in the Company’s most recent Annual Information Form prepared and filed with
securities regulators which is available on SEDAR at www.sedar.com under the Company’s name. There are
no assurances the Company can fulfil forward -looking statements and information. Such forward -looking
statements and information are only predictions based on current information ava ilable to management as
of the date that such predictions are made; actual events or results may differ materially as a result of risks
facing the Company, some of which are beyond the Company's control. Although the Company believes
that any forward-looking statements and information contained in this press release is based on reasonable
assumptions, readers cannot be assured that actual outcomes or results will be consistent with such
statements. Accordingly, readers should not place undue reliance on fo rward-looking statements and
information. The Company expressly disclaims any intention or obligation to update or revise any forward-
looking statements and information, whether as a result of new information, events or otherwise, except as
required by applicable securities laws. The information contained in this release is not investment or financial
product advice.
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION
TO US NEWSWIRE SERVICES.