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Petroleum / Mining in New Zealand

  • Forsyth Barr broker Peter Young.

    NEW ZEALAND, 2012/12/28 Oceana Gold's production guidance is encouraging, with a demonstration that its cash costs are falling, says Forsyth Barr broker Peter Young. The East Otago and Reefton gold miner issued new guidance last week and confirmed it had raised equity capital. Forsyth Barr lifted its 2013 full-year operating earnings estimate 1 % to US$274.3 million ($334.2 million) and reduced the target share price by 70c per share to $4.40. It left its buy approbation unchanged. Young said the production guidance provided by the company was close to expectations and resulted in only minor changes to the Forsyth Barr forecasts.
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