Business Description:
OceanaGold Corporation Limited (OGC) is a gold producer with a portfolio of operating, development and exploration assets. Assets are located on the South Island of New Zealand and the Philippines.

Strategy Analysis:
OGC's objective is to maximise shareholder value through performance improvements at the Macraes and Reefton surface operations, development of the Didipio Gold Copper Project and exploiting potential exploration and acquisition opportunities within the Pacific Rim. In addition, OGC believe the transition to underground mining will present additional underground mining opportunities along the developed Macraes mineralisation line-of-strike. . OceanaGold Corporation reported NPAT up 94% to US$18.92m for the half-year ended 30 June 2011. Revenues from ordinary activities were US$185.55m, up 44% from the same period last year. The revenue increase mainly reflects the increase in the average gold price received, offset partly by a decrease in gold sales to 126,100oz (2010: 132,388oz). The higher revenue contributed to higher net profit as it more than offset the increase in costs resulting from continued pressure on labour and input costs, and a stronger average NZ Dollar against the US Dollar. Basic and Diluted EPS was 7 US cents compared to 5 US cents last year. The net operating cash inflow was US$76.33m compared to an outflow of US$31.43m in the pcp. No dividend was declared.