Updated at 10:19pm on 12 July 2010
Shares in Oceana Gold have jumped 9% after the miner found significant new reserves of gold at its Otago underground Frasers mine in Otago.
The stock gained 35c to $4.20.
Oceana Gold says the find of additional high grade gold reserves may extend the life of the mine by another 18 months.
The company says it will continue its drilling programme to determine the size of the find.
http://www.radionz.co.nz/news/stories/2010/07/12/12480fcfca27
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