Indeed a good buy now ;)Goldminer confident of output boost...

Indeed a good buy now ;)

Goldminer confident of output boost 19/12/2011

OceanaGold Corp is confident of a longer-term production target of 600,000 ounces a year through organic and asset growth including reopening a West Coast mine.

Managing director Mick Wilkes says the growth estimates come after the gold miner has put in conservative production targets for 2012 of 230,000-250,000 ounces of gold and 300,000-350,000 ounces in 2013.

Wilkes said the company was already examining an expansion of its Didipio project in the Philippines – due for commissioning in late 2012 – which would boost production to about 150,000 ounces of gold plus copper a year.

"We also have a significant exploration programme in New Zealand and have got some promising results from areas such as Blackwater at Reefton.

"We'd like to reopen the Blackwater mine in the next few years," Wilkes said.

"We're also on the lookout for other assets to build and we think 600,000 ounces per annum by 2016 is achievable.

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