VANCOUVER, BC, Dec. 18,
2024 /PRNewswire/ - OceanaGold Corporation (TSX: OGC)
(OTCQX: OCANF) ("OceanaGold" or the "Company") is pleased to
welcome the New Zealand Parliament's passing of the Fast-track
Approvals Bill for regionally and nationally significant
infrastructure and development projects. The new Fast-track process
for gaining consents and approvals will open for applications on
February 7, 2025. The Waihi North
Project, which includes the proposed Wharekirauponga underground
mine ("WUG"), is one of 149 projects listed in Schedule 2 of the
legislation with the ability to lodge an application from that
date.
OceanaGold intends to lodge its Fast-track application in early
2025 and expects to be fully permitted (subject to any appeals)
under the Fast-track approvals process by the end of 2025. This
timetable would allow the Company to commence decline and
underground development work for the proposed WUG mine in 2026. In
2025, $40-45 million of early works
not requiring Fast-track approvals are planned.
Gerard Bond, President & CEO
of OceanaGold, said "We are very pleased by the enactment of this
landmark legislation that derisks the permitting timeline,
providing a better climate for investment in OceanaGold's projects
in New Zealand. As validated by
our recent pre-feasibility study results, the Wharekirauponga
underground mine ("WUG") has the potential to deliver decades of
significant benefits for shareholders, the workforce, local
communities and the New Zealand
economy. Consistent with our 35 years of successful operation in
New Zealand, the development of
WUG will be progressed safely and responsibly."
For more information on the Fast-track Approvals Act, please see
the Government of New Zealand's
announcement at:
https://www.beehive.govt.nz/release/one-stop-shop-fast-track-bill-passes-third-reading.
About OceanaGold
OceanaGold is a growing intermediate gold and copper producer
committed to safely and responsibly maximizing the generation of
Free Cash Flow from our operations and delivering strong returns
for our shareholders. We have a portfolio of four operating mines:
the Haile Gold Mine in the United States
of America; Didipio Mine in the
Philippines; and the Macraes and Waihi operations in
New Zealand.
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
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
forward-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, among
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.sedarplus.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 available 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 forward-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.
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SOURCE OceanaGold Corporation
