ASIA STORIES

Sound logic in OceanaGold move

OceanaGold Corp is set to pay what appears ‘top dollar’ to Newmont Mining Corp for the big gold miner’s Waihi mine in New Zealand, but it is not difficult to see the logic.

OceanaGold’s US$101 million offer means it is paying US$290 per reserve ounce, or about A$365/oz. To put that into some perspective, Evolution Mining’s recent A$370/oz deal with La Mancha was deemed by...

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