OceanaGold announces changes to its Board of Directors
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MELBOURNE, April 26, 2018 /CNW/ - OceanaGold Corporation (TSX/ASX: OGC) (the "Company") advises that non-executive directors Dr Diane Garrett, Mr William Myckatyn and Mr Jose P Leviste Jr will not be seeking re-election to the Board of Directors (the "Board") at the Company's upcoming Annual General and Special Meeting of Shareholders scheduled for 1 June 2018.
The Company is pleased to announce the appointment of Mr Ian M Reid to the Board as a Non-Executive Director with immediate effect.
Jim Askew, Chairman of the Board said, "We acknowledge the decision of our colleagues to retire from the Board at the upcoming AGM, as they pursue other opportunities. Diane joined the OceanaGold Board in 2015 and has been a valued contributor to the Company particularly in relation to our Haile operation as we developed this world-class asset into commercial production last year. Bill has served on the Board for over 8 years providing us with the benefit of his many decades of technical and management experience in the mining industry."
Mr Askew added, "Since joining the Board in 2007, Joey has worked tirelessly, not only around the Board table, but on the ground in the Philippines playing an important role for the Company through development and operations of the Didipio Mine. The Board appreciates that Joey has agreed to remain with the Company in an ongoing consulting capacity.
On behalf of the Board, I sincerely thank Diane, Bill and Joey for their Board service to OceanaGold and wish them all the very best in their future endeavours."
Mr Askew said further, "It is with great pleasure that I announce the appointment of Mr Ian M Reid. Ian has a long and proven track record of running successful heavy equipment businesses serving the mining and construction industries in Canada and elsewhere, plus extensive Board experience. Ian's appointment, along with that of Nora Scheinkestel earlier this month, adds many decades of business, Board service and mining experience to the OGC Board."
Ian Reid held several senior management positions in Caterpillar distributors culminating in his appointment as President of Finning (Canada) in 1997 and retiring from that position in 2008. Mr Reid led Finning to become one of the largest and most successful Caterpillar equipment distributors in the world, with 4,500 employees in more than 100 service operations and revenues that tripled during his tenure.
Mr Reid currently serves as a non-executive director at Canadian Western Bank, Stuart Olson Inc., Fountain Tire Ltd (Chairman), Associated Engineering and Voice Construction OPCO ULC.
Mr Reid has a Bachelor of Commerce degree from the University of Saskatchewan in Canada and has completed the Advanced Management Program at Harvard.
OceanaGold Corporation is a mid-tier, high-margin, multinational gold producer with assets located in the Philippines, New Zealand and the United States. The Company's assets encompass the Didipio Gold-Copper Mine located on the island of Luzon in the Philippines. On the North Island of New Zealand, the Company operates the high-grade Waihi Gold Mine while on the South Island of New Zealand, the Company operates the largest gold mine in the country at the Macraes Goldfield which is made up of a series of open pit mines and the Frasers underground mine. In the United States, the Company operates the Haile Gold Mine, a top-tier, long-life, high-margin asset located in South Carolina. OceanaGold also has a significant pipeline of organic growth and exploration opportunities in the Americas and Asia-Pacific regions.
OceanaGold has operated sustainably over the past 27 years with a proven track-record for environmental management and community and social engagement. The Company has a strong social license to operate and works collaboratively with its valued stakeholders to identify and invest in social programs that are designed to build capacity and not dependency.
In 2018, the Company expects to produce 480,000 to 530,000 ounces of gold and 15,000 to 16,000 tonnes of copper with All-In Sustaining Costs that range from $725 to $775 per ounce sold.