Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


OceanaGold: Extraordinary General Meeting Results

Results of Extraordinary General Meeting

OceanaGold is pleased to announce that all resolutions put to shareholders at today’s Extraordinary General Meeting were passed.

In particular, the approval of Resolution 2 paves the way for OceanaGold to receive a further A$10m in funding, by way of Barclays Bank PLC exercising their option prior to 19 February, 2006, to purchase additional Convertible Notes. This would lift the total proceeds to the company from Convertible Notes to A$55m.

The terms of the Convertible Note have been previously released to the ASX and are available on our website:

The proceeds from the Convertible Note Issue will be used to fund the development of the Globe Progress surface mine and plant at the Reefton Goldfield and the Frasers Underground mine at the Macraes Goldfield.

The infrastructure required for the development of the Globe Progress project is virtually complete and the mine is scheduled to commission in Q4 2006 and ramp up to a production rate of around 70,000 ounces per annum.

The Frasers Underground development will be started in April 2006, through a decline from the Frasers Open Pit. This is to facilitate initial trial mining in order to optimise ground control and dilution control techniques prior to full-scale production. Trial mining at Frasers Underground is scheduled to commence Q4 2006, with full scale production commissioning Q4 2007.


© Scoop Media

Business Headlines | Sci-Tech Headlines


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news