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Tuesday, 25th January 2005 (5001 views)

Gold mining firm Oceana Gold has announced that during 2004 it produced record amounts of gold and is continuing to perform well.<br/><br/>The company revealed that cash flow from operations in the December quarter was AUS$10.4 million and 47,580 ounces were produced, according to NZPA.<br/><br/>Net profit at the firm after tax has reached AUS$5.3 million and year-end results are expected on February 25th.<br/><br/>The firm hopes to more than double its yearly gold production to around 350,000 ounces by 2007.<br/><br/>In addition, it plans to spend around NZ$125 million in the South Island over the next two and half years on plants and exploration.<br/><br/>The goldminer was floated off by Australian-based GRL NL in order to replaces its New Zealand gold mining unit early last year.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7642225"/>

 

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