IGO to record impairment against nickel assets in strategy shift
IGO has been undertaking a strategic review in an attempt to revaluate its resources.
OceanaGold (TSX: OGC, ASX: OGC) announced on Tuesday that it has resumed operations in New Zealand after the government decreased the country’s covid-19 alert level from four to three.
At Waihi, the development of Martha Underground as well as regional exploration activities have resumed while adhering to the required safe operating practices.
With Haile gold mine in South Carolina operating at full capacity, the miner will keep its 2020 guidance
In March 2019, a resource was reported for the project of 2.1Mt at 4.84 g/t gold for 331,000 ounces of gold as an indicated resource, and 4.5Mt at 4.59 g/t gold for 667,000 ounces as an inferred resource.
OceanaGold has also resumed mining at Macraes, New Zealand’s largest gold producing operation. The mine produced 202,990 oz gold in 2018.
With the Haile gold mine in South Carolina operating at full capacity, the miner will keep its 2020 guidance.
“We continue to be focused on managing the near-term risks while executing on our operational plans, working with the Philippine government to renew our FTAA and resume operations at the Didipio gold-copper mine, and advancing our solid pipeline of organic growth opportunities including Martha Underground,” Michael Holmes, president and CEO said in a media release.
To date, OceanaGold has not had any confirmed cases of covid-19 among any of its employees or contractors.
Midday Tuesday, OceanaGold’s stock was up 6.2% on the TSX. The company has a C$1.36 billion market capitalization.
