May 19, 2020

Gold rush: How OceanaGold has exceeded expectations

Newmont Mining
new zealand
finance
Gold
Uwear
2 min
Gold rush: How OceanaGold has exceeded expectations

Although the mining industry took a downturn last year as a whole, gold is still in style.

New Zealand-based miner OceanaGold exceeded 2015 consolidated gold production guidance range with 419,153 ounces produced (36 per cent year-on-year increase) and achieved copper production guidance range with 23,109 tonnes produced.

RELATED TOPIC: With the gold price on the rise, Newmont set to expand the Boddington gold mine

You can read a more in-depth report on the company this March, when OceanaGold is featured in the monthly issue of Business Review Australia & Asia.

“Last year was a transformational year for OceanaGold and another year of strong operational and social performance where we delivered a solid return for shareholders and made significant social investment in the communities where we operate,” said Mick Wilkes, president and CEO.

RELATED TOPIC: [SLIDESHOW] Super Pit: Inside Australia's largest gold mine

“We not only exceeded our gold production guidance but did so at sector leading low costs while further improving on our environment, health and safety record.”

Its Didipio operation, which is a high-grade gold and copper mine located in the Philippines, OceanaGold was able to deliver a record amount of annual gold production and throughput with 127,086 ounces of gold produced along with 3.58 million tonnes of ore processed. The company recorded unaudited consolidated All-In Sustaining Costs (AISC) of $709 per ounce sold and cash costs of $458 per ounce sold, both within the 2015 cost guidance range.

RELATED TOPIC: Zijin's push for Phoenix Gold could put China back in Aussie mining

Last year also saw OceanaGold complete the acquisition of Romarco Minerals, securing ownership of the Haile Gold Mine in South Carolina, USA, as well as completing the acquisition of the Waihi Gold Mine in New Zealand from Newmont Mining. In the Philippines, drilling continued on the Morning Star prospect at Didipio and scout drilling of geophysical targets at the Paco tenements in northeast Mindanao.

Moving forward, OceanaGold has announced its 2016 production and guidance of 385,000 to 425,000 ounces of gold at continued low AISC of $700 to $750 per ounce.

RELATED TOPIC: Australia takes hit as Barrick Gold continues to sell

In 2016, the Company has allocated an exploration budget of $25 to $30 million, of which $10 to $15 million has been allocated at Haile and $5 million to $10 million at Waihi with the remaining amount to be spent at Macraes and in the Philippines.

Source: Mining Global

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Jun 8, 2021

Timeline: India takes unicorn leap with six in five days

India
Unicorns
Startups
tech
Kate Birch
2 min
We chart an historic week in India’s startup tech industry, where from April 5-9 the country achieved six unicorns

We chart an historic week in India’s tech industry, where in just five days, between 5-9 April 2021, the country achieved six new unicorns, bringing India’s total to 10 in 2021 to date, an immense unicorn leap from just seven in 2020 and six in 2019.

April 5: Meesho

India’s first social commerce unicorn, Meesho raised US$300m from SoftBank, Facebook and Shunwei Capital, giving the Bangalore-based startup a US$2.1bn valuation, a threefold jump from its previous funding round in 2019. Founded in 2015 by two IIT-Delhi graduates, Meesho connects producers and resellers, helping small businesses sell through social media. It has 45m customers and has enabled 13m entrepreneurs to start their online businesses with no investment.

April 6: CRED

Founded just over two years ago, Bangalore-based credit card repayment app CRED raised US$215m from Falcon Edge Capital and Coatue, nearly trebling its valuation to US$2.2bn from its January US$80m round. Allowing customers to pay off their credit card debt while earning CRED coins which they cash in for rewards, CRED has grown rapidly during COVID-19, doubling its customer base to nearly 6 million in a year.

April 7: API Holdings / Groww

The first epharmacy startup to gain unicorn status, PharmEasy (API Holdings), which has digitised 60,000 brick and mortar pharmacies and 400 doctors across India, raised US$350m in a round led by Prosus Ventures. Founded by four former Flipkart employees as a way of making investing simple, investment platform Groww became India’s second-youngest fintech unicorn, raising US$83m in Series D funding led by Tiger Global, quadrupling its previous round in September.

April 8: ShareChat

New Delhi-grown social media startup ShareChat, founded in 2016 by Mohalla Tech raised US$502m from Lightspeed Ventures, Tiger Global, Twitter and Snap taking its raised total over six rounds to US$766m and pushing its valuation to US$2.1bn. The funding will be used to grow its user base and short video platform Moj, which launched in 2020 following TikTok’s ban in India. The regional language startup claims 280m users.

April 9: Gupshup

AI-led conversational message startup joined the unicorn club after raising US$100m from Tiger Global giving it a ten-fold valuation of US$1.4bn. The smart messaging platform, which has seen accelerated growth during the pandemic, was founded in Bangalore in 2005 by serial entrepreneur Beerud Sheth, whose online freelancing platform Elance is now listed. Gupshup’s API enables 100,000+ businesses to build messaging and conversation experiences across 30+ communication channels. 

 

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