# OGD - Oceana Gold



## MalteseBull (10 January 2006)

As of: 30/12/2005

ASX Code: OGD
Company: Oceana Gold Ltd
Sector: Materials
Shares on Issue: 360m
Market Cap: A$250m
Cash on Hand: A$20.8m (30/06/05)

Other Info:
- Oceana Gold primarly producers gold out of 2 goldfields (Macraes and Reefton) on the South Island, New Zealand.
- Macraes is New Zealands largest producing gold mine.
- OGD is looking to produce 300,000 ounces p/annum by 2007.

www.oceanagold.com


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## MalteseBull (10 January 2006)

*10/01/06 NEWS*

Oceana Gold Limited (OGD) is one of the Top 5 ASX listed gold producers with a mix of production, development and exploration projects located in New Zealand. OGDs main projects are the Macraes Goldfield, the Reefton Goldfield and the Sams Creek Project.
-------------------------------
Release of Fourth Quarter Activity Report and Year End Results
OceanaGold announced today that it will release its Activity Report for the quarter ended
30 December 2005 to the Australian and New Zealand Stock Exchanges on Friday 20
January 2006.
This will be followed with the release of the Company’s year end results on Friday 24
February 2006.

*Huntley
s: STRONG BUY*


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## justjohn (10 January 2006)

*Re: 10/01/06 NEWS*

Having had OGD on my  watchlist and seeing the stock steadly go through the .50c ,60c & now the 70c mark   I need some of our learnered friends to start getting me off the fence with this thing .Ive had a good run with LHG over the last 4months but feel it has almost reached its full potential so Im looking to replace it with another gold stock.Today OGD was up almost 5% when most gold retracted so is there anyone out thereto convince me about OGD and get me off this rotten fence.So let me have it :swear:   







			
				MalteseBull said:
			
		

> Oceana Gold Limited (OGD) is one of the Top 5 ASX listed gold producers with a mix of production, development and exploration projects located in New Zealand. OGDs main projects are the Macraes Goldfield, the Reefton Goldfield and the Sams Creek Project.
> -------------------------------
> Release of Fourth Quarter Activity Report and Year End Results
> OceanaGold announced today that it will release its Activity Report for the quarter ended
> ...


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## slimtrader (11 January 2006)

here is my quick synopsis of where we are. breakout from short term channel and short term resistance. could see retracement to 100. much will depend on activity report due on 20/1


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## MalteseBull (11 January 2006)

Up 3% today..

at .79 i think it's still a bargain.. I beleive it will continue it's run all the way to it's resistance of 84 cents, then announcment on 20th Jan then next stop $1


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## MalteseBull (13 January 2006)

I am going to stock up more at .74 
I am guaranteed 10% when it gets to 52 week high and beyond..


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## MiningGuru (12 May 2006)

Is Oceana Gold about to involved in a takeover bid by Lihir Gold?


OGD Announcement 10/05/2006 11:15AM

"Share Price Movement

Oceana Gold Limited notes that there has been significant appreciation in
its share price over the last 24 hours. The Company is in discussions with
regard to a potential transaction. The discussions are ongoing and
incomplete and there is no certainty that any transaction will proceed.
OceanaGold will keep the market informed should there be any developments
which require an announcement."

http://sg.biz.yahoo.com/060424/15/409ir.html

INTERVIEW: Lihir Looking For Asia-Pacific Acquisitions
Monday April 24, 1:40 PM

MELBOURNE (Dow Jones)--Looking to cut the risk of owning a lone mine on a
volcanic island, Papua New Guinea's Lihir Gold Ltd. (LIHRY) said Monday
that it is considering large acquisitions in the Asia-Pacific region...

Acquisitions in the Asia-Pacific region, likely outside of Papua New
Guinea, will cut Lihir's risk profile and boost returns, [new chief
executive Arthur] Hood told Dow Jones Newswires in an interview.

Hood said Lihir is already looking at some opportunities but wouldn't be
drawn on the timing or size of any acquisition, saying only that it was
unlikely to be small.

"It's got to be something material to our shareholders that will add
shareholder value, so obviously a 50,000 ounce a year operation," won't be
big enough, said Hood, who joined Lihir in September.
...
Austock Ltd. analyst Hunter Hillcoat said the company would be looking to
add well over 200,000 ounces of production a year
...
Smaller miners in the region include Oceana Gold Ltd. (OGD.AU), which
produces about 200,000 ounces a year in New Zealand, and Resolute Mining
Ltd. (RSG.AU) which produces about 180,000 ounces of gold a year at its
Ravenswood operation in Queensland and in January approved an extension at
Mt Wright. It also has growth prospects in Africa.

Sino Gold Ltd. (SGX.AU) is also currently expanding its operations in
China.


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## jet-r (12 May 2006)

hmmm very interesting.

this would also have an impact on GRD whos is currently holding 56% of their share. Why dont Lihir deal with GRD directly? they would gain full control of OGD if GRD decides to sell all of their holding to them.


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## Sean K (12 May 2006)

GRD has been trying to sell their stake for quite a while. Market conditions are ripe for a good price. 

OGD are restructuring their hedge book also which would make it more attractive.

Probably all good for OGD but for LHG? I hold it and am not sure. And New Zealand? Don't they only ski and make movies over there?

mmmmm


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## bigdog (5 November 2006)

ODG SP has increased from 0.605 Oct 20 and hit 0.76 Nov 2 and closed Nov 3 at 0.725

AFR Investor (David Potts) Nov 5 recommends a punt.
-- directors have been buying
-- one of biggest gold miners with 170000 ounces (Aust/NZ)
-- potential 300000 ounces in 2008
-- potential reserves 2.75 million ounces
-- slashed costs by 17% and cost $378 per oz

the gold price has been rising and SP also increased

OGD is recommended by Westpac broking


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## brerwallabi (5 November 2006)

Not much talk on the merge with Climax (CMX) which will take place Tuesday. OGD shares will then trade as OGDN.
CMX have a substantial soon to be producing 10 year life very low cost unhedged gold/copper mine in the Phillipines.
It explains a bit of movement, thought you guys might have known.


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## bigdog (8 November 2006)

Todays West Australian
http://www.thewest.com.au/default.aspx?MenuID=159&ContentID=12350

Extracts are:
The friendly scrip merger values the expanded group at $480 million, ranking it a distant third to multi-billiondollar sector leaders Newcrest Mining and Lihir Gold. 

Oceana produces about 180,000 ounces a year from the Macraes and Reefton gold projects in New Zealand while Climax is developing the high-grade Dinkidi gold-copper mine in the Philippines. 

When Dinkidi is in production in mid-2008, the expanded Oceana Gold expects to be producing about 550,000oz a year at a cost of about $US100 ($130) an ounce. 




Oceana-Climax merger forms $480m gold group 
7th November 2006, 9:30 WST

Oceana Gold, the Australasian gold miner spun-off by Perth engineering group GRD, yesterday completed its merger with junior miner Climax Mining to create Australia’s third biggest home-grown gold group. 

The friendly scrip merger values the expanded group at $480 million, ranking it a distant third to multi-billiondollar sector leaders Newcrest Mining and Lihir Gold. 

Oceana produces about 180,000 ounces a year from the Macraes and Reefton gold projects in New Zealand while Climax is developing the high-grade Dinkidi gold-copper mine in the Philippines. 

When Dinkidi is in production in mid-2008, the expanded Oceana Gold expects to be producing about 550,000oz a year at a cost of about $US100 ($130) an ounce. 

Oceana offered 0.62 of a share for every share in Climax and the deal was approved by shareholders last week. 

Oceana chief Stephen Orr said the merger created a “globally significant” gold miner with a spread of assets in New Zealand and the Philippines and reserves of more than 4.8 million ounces of gold equivalent. 

Mr Orr said the company would commit $6 million to $7 million to exploration at its Philippines projects alone each year, on top of the cash already committed to “comprehensively explore” its leases in New Zealand. 

He said a comprehensive exploration plan had been developed for the group’s Philippine and New Zealand holdings that would be implemented early next year. 

Oceana shares closed 0.5 ¢ weaker at 72 ¢, while Climax shares eased 0.5 ¢ to 46 ¢ on its last day before being delisted. 


JOHN PHACEAS


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## alankew (10 November 2006)

Just had a look at a chart for this and to my inexperienced eye it looks interesting but the chart i looked at was for OGD and not OGDN and commsec has prices for both stocks so are both companies listed or is it now OGDN


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## bigdog (10 November 2006)

OGDN will be the converted Climax shares

OGD SP have rusen VG in past weeks from .62 to .96 cents


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## bigdog (14 November 2006)

ASX ANN today - very encouraging signs

Director S Orr has purchased shares twice in Nov 2006

Nov 1: 100,000 share $64000 (64 cents)

Nov 8: 325,000 shares for $325000 (72 cents)

Todays SP is currently 75.5


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## bigdog (19 December 2006)

Finally some good news from OGD to kick on SP up 3.5 cents today to 69 cents with high of 70 cents.
-- $110 million cash including $70 million converitble notes at 81.9 cents

OGD SP has been very very disappointing lately around mid 60's.

ASX ANN today
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00679936

OCEANAGOLD RAISES A$110 MILLION OF COMMITTED FUNDING
OceanaGold today announced a A$70 million convertible note issue and a NZ$45 million bank project debt facility which together will provide A$110 million to fund project development in the Philippines and New Zealand.

Of the A$70 million convertible notes, A$60 million is committed by investment funds advised by Ospraie Advisors LP and Ospraie Management, LLC (collectively “Ospraie”). Ospraie is New York based and comprised of funds that invest in commodities and basic industries on a global basis and collectively have in excess of US$5 billion in assets under management.

Ospraie currently owns 10.65% of OceanaGold’s listed shares.


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## bigdog (2 January 2007)

OGD ASX Ann today
-- there have been a few professional tipsters selecting OGD for 2007
-- not much response to the SP today following this news!
-- I hold

OGD 10:39 AM  Announces Dry Commissioning of its Reefton Gold Project 
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00682595

2 January 2007
OCEANAGOLD ANNOUNCES DRY COMMISSIONING
OF ITS REEFTON GOLD PROJECT
OceanaGold today announced that dry-commissioning of the Globe Progress process plant at the Reefton Gold Project on the South Island of New Zealand started during the last week of December 2006. Dry-commissioning of the 1 million tonne per annum (Mtpa) process plant commenced with the mills and is proceeding into wet-commissioning through mid-February 2007.

Mining has been active since July of 2006 and 21,300 tonnes of ore are currently stockpiled for processing through the crushing, grinding and flotation plant. First concentrate is expected to be shipped in mid-February 2007 and the processing plant is scheduled to be in full production by the end of First Quarter 2007. OceanaGold is forecasting 60,000 to 65,000 ounces of gold production from Reefton during 2007.

“This is the first new mine that OceanaGold has built and the commissioning of Reefton is proceeding to our expectation and representation. Mining is on target and recruitment of professional staff is complete. As such, we believe that we can achieve a full year of production from this operation.” CEO, Stephen Orr commented.


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## brerwallabi (2 January 2007)

bigdog said:
			
		

> “This is the first new mine that OceanaGold has built and the commissioning of Reefton is proceeding to our expectation and representation. Mining is on target and recruitment of professional staff is complete. As such, we believe that we can achieve a full year of production from this operation.” CEO, Stephen Orr commented.




bigdog
They need this full year of production to make up for lower production and higher costs coming from Macraes.
The Philippines operation ex Climax is still at least 2 years away and they still have to award the EPCM (Engineering, Procurement and Construction Management) contract, the sooner they can do this the better.
In 2009 OGD should be in the money but its a long hard road.
Running 3 start up projects Macraes underground, Reefton and Phillippines and changing from a single commodity company to a dual asset (gold and copper) commodity company with numerous projects may carry a bit of a risk.
If they can deliver all on time within costs it will be a very profitable company - we will have to wait.


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## Dutchy3 (29 January 2007)

Could be a move out of the ranging that started back in Aug 06


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## michael_selway (21 February 2007)

As rquested by BigDog 

*Earnings and Dividends Forecast (cents per share) 
2005 2006 2007 2008 
EPS -2.6 1.1 4.4 7.7 
DPS 0.0 0.0 0.0 0.0 

EPS(c) PE Growth 
Year Ending 30-12-06 1.1 70.0 -- 
Year Ending 30-12-07 4.4 17.5 300.0% * 

thx

MS


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## moses (22 February 2007)

fwiw, the SMA is making nice noises for OGD in the short to medium term


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## exgeo (22 February 2007)

Despite what the SMA might be saying, I guess tomorrow might still be a pretty bad day for OGD. But the underlying result seems OK to me (positive operational cashflow).


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## moses (22 February 2007)

exgeo said:
			
		

> Despite what the SMA might be saying, I guess tomorrow might still be a pretty bad day for OGD. But the underlying result seems OK to me (positive operational cashflow).




Agreed; except I think that is what the SMA is saying. 

I don't see anything to suggest tommorrow to be all that bad though; a slight dip perhaps, a buying opportunity. What makes you think tommorrow will be pretty bad?


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## bigdog (22 February 2007)

Two ASX ann last night

Highlights look OK and include
Operating profit after tax (excluding unrealised hedge losses and impairment of goodwill on acquisition) up 725 % to $11.0 million. Cash flow from operations increased by $35.0 million, or 206%, representing 13 cents per share.

OGD 7:17 PM   OceanaGold 2006 Year End Release Presentation ($US) 
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00695487

Next $ table looks disappointing
Financial Results 2006$’000  2005 $’000 Change $’000 Change%
Revenue from ordinary activities
--------------- 101,803 -- 152,816 --- (51,013) --- (33.4%)
Profit (loss) from ordinary activities after tax attributable to members
--------------- (106,129) -13,910 ---- (120,039) -- (863.0%)
Net profit (loss) for the period attributable to members
--------------- (106,129) -13,910 ---- (120,039) -- (863.0%)

Explanation of Results
Profit/(loss) from ordinary activities after tax but excluding unrealised hedging losses and impairment reversals/(write downs) for the full year ending 31 December 2006 was $11,003,000, representing a 725% increase on the 2005 comparative period.

21 February 2007
REPORT FOR THE YEAR ENDED 31 DECEMBER 2006
HIGHLIGHTS
• Completion of the merger with Climax Mining on 6 November 2006 has created a company with 4.8 million gold equivalent ounces of reserves and market capitalisation of $480 million.
• Operating profit after tax (excluding unrealised hedge losses and impairment of goodwill on acquisition) up 725 % to $11.0 million. Cash flow from operations increased by $35.0 million, or 206%, representing 13 cents per share.
• Significant diversification of OceanaGold’s share ownership achieved through sell down of GRD shareholding.
• A$140 million of committed financing raised to fund project developments in the Philippines and New Zealand. This is comprised of A$100m in convertible notes and a NZ$45 million bank project debt facility.
• Achieved a 6% increase over gold sales target of 180,000 ounces per annum.
• Completion of the hedge book restructure in May has allowed 41% of production to be sold at higher gold spot prices, delivering a 13% increase on the average gold price received.
• A floor price of NZ$1,000 per ounce put in place for production from the Globe Progress mine between 2007 and 2010.
• Ongoing cost efficiency initiatives and record throughput rates delivered a 5% cash cost per ounce improvement on 2005.
• Dry commissioning of the process plant at the Globe Progress Gold project at Reefton commenced in December 2006. Mining activity remains on schedule and gold production is expected to be reported in the first quarter of 2007.
* All statistics are compared to the corresponding 2005 year.
**Unless otherwise stated all currency is in A$.

Financial
Gold sales revenue for the 2006 year improved 23% compared to 2005 due to the combination of improved sales volumes and an increased gold price received.

The combination of a higher gold price received and lower cash operating costs delivered a 37% increase in cash operating margin to $388 per ounce sold.

This increase together with higher sales volumes produced an operating profit after tax (excluding unrealised hedge losses and impairment reversals/write downs of $11.0 million, a 725% increase on 2005.

OGD 7:01 PM  Preliminary Final Report 
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00695481


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## bigdog (22 February 2007)

Market reacted favourably to ASX ann yesterday

OGD   $0.78  +$0.02  +2.63% 257,688 shares $198,915  22-Feb 10:12:28


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## exgeo (22 February 2007)

OK, I was wrong. Well I don't know about other people, but I've sometimes just read the headline figures (EPS etc) and then bought/sold, but then after delving deeper later on wished I hadn't. If someone had just looked at the EPS then they might have worried. But I am happy to be proved wrong. I didn't sell myself and looks like smarter money than me agrees.


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## bigdog (23 February 2007)

*OGD SP close was very encouraging @ $0.79  Feb 22 * 

Feb 22
*The recent surge in gold prices* helped, spurring goldminers and bolstering the dollar. Bullion rose to as much as $US682.25 an ounce, the highest in about nine months, bringing it nearer the 26-year highs reached last November of $US722.55 an ounce. Lihir Gold was among the leading share risers, adding 7.7 per cent, or 25 ¢, to $3.51.

Sydney Morning Herald today
http://www.smh.com.au/news/Business/Oceana-looking-to-raise-74m/2007/02/23/1171733983118.html
*Oceana looking to raise $74m*
February 23, 2007 - 7:29AM

Goldminer Oceana Gold is looking to raise $US52 million ($A65.8 million) from shareholders for its gold and copper mine development in the Philippines and New Zealand after posting a loss of $NZ106 million ($A94.8 million) for the 2006 year.

The Dominion Post reported operations manager Ross Gloss said the company took a writedown of $NZ71 million ($A63.5 million) on Climax mining assets and a charge of $NZ29 million ($A25.9 million) on gold hedges.

They were offset by a gain on some gold hedges of $NZ75 million ($A67.1 million). Climax and Oceana merged last year.

Revenue fell 33 per cent to $NZ101.8 million ($A91.1 million) in the year to December 31, 2006. The loss was $NZ106 million ($A94.8 million) compared with 2005's profit of $NZ13.9 million ($A12.4 million).

The company said that because of high development spending it was not proposing to declare a final dividend.

Chief executive Stephen Orr said the company expected to raise equity this year of $US52 million ($A65.8 million) for gold and mine development.


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## lamborghini (26 February 2007)

Is there any truth to the rumor that OGD are in favour of a takeover bid should it come their way?


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## exgeo (1 March 2007)

> OGD - OCEANA GOLD LIMITED
> Aspect Huntley rates OGD as Upgrade to Speculative Buy from Accumulate - Profit was better than expected and in combination with likely lower costs and an improved cash position has seen Aspect Huntley uprgade its rating. While some risks remain with respect to the development of Dipido, Aspect Huntley sees attraction in the potential of the company to lift production from 180koz now to more than 500koz.
> 
> Current Price is $0.77. Target price not assessed.
> ...



(source www.fnarena.com)


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## redandgreen (1 April 2007)

FYI (press reports)  Melborne Herald Sun

Oceana approached by South African Miner Harmony Gold 
however CEO  Stephen Orr claims "the company is not for sale...."


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## Dutchy3 (28 April 2007)

This week confirms move out of trading range most evident on a weekly chart

Volume also altering accordingly .... HOLD


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## bigdog (4 May 2007)

ASX ann today

SP for past two weeks has risen 12 cents - VG
Date ----- Close 	Volume
03-May-07	 0.86 	1,283,222
02-May-07	 0.87 	3,553,318
01-May-07	 0.86 	4,604,439
30-Apr-07	 0.85 	3,073,177
27-Apr-07	 0.81 	898,120
26-Apr-07	 0.82 	5,666,408
24-Apr-07	 0.82 	2,897,417
23-Apr-07	 0.80 	6,338,591
20-Apr-07	 0.77 	1,177,747
19-Apr-07	 0.75 	1,902,171

Up 1.5 cents today
OGD   $0.87    +$0.015  $0.88 high and low of $0.87  831,106 shares  $727,652  04-May 11:35:19 

OGD 11:01 AM   Update on North American Listing 
http://www.asx.com.au/asxpdf/20070504/pdf/3129d2jgjywx5h.pdf

Update on North American Listing
Scheme Meetings to be held on 8 June 2007
Oceana Gold Limited (ASX Code: “OGD”) is pleased to announce that the Supreme Court of Victoria has today set the date for meetings of OGD’s shareholders and listed optionholders to consider a proposal to restructure the Oceana group to allow for listing on the Toronto Stock Exchange. The meetings will be held on Friday 8 June 2007 commencing at 11.00am (Melbourne time) at The Westin, Executive Room 2, 205 Collins Street, Melbourne.

The proposed restructure will place a newly incorporated Canadian company, OceanaGold Corporation, as the holding company of the Oceana Group. If the restructure is approved, OceanaGold Corporation will apply to list on the Toronto Stock Exchange (“TSX”).

Schemes of arrangement
The restructure will be implemented through schemes of arrangement between OGD and the holders of its shares and listed options (“Schemes”). Through the Schemes, OGD shares and listed options will be exchanged for equivalent shares and listed options in OceanaGold Corporation.

As a result of the restructure, OGD will become a wholly owned subsidiary of OceanaGold Corporation and will cease to be listed in Australia and New Zealand. In its place, OceanaGold Corporation will apply to be listed on the Australian Stock Exchange (“ASX”) and the New Zealand Stock Exchange (“NZX”), in addition to its primary listing on the TSX.

As part of the Schemes, it is proposed to consolidate OGD’s issued capital on a 1 for 5 basis because Canadian market practice is to have a smaller number of higher value shares. This means that OGD shareholders will receive 1 OceanaGold Corporation share for every 5 OGD shares and OGD listed optionholders will receive 1 OceanaGold Corporation option for every 5 OGD listed options.

OGD shareholders will be able to elect to receive their OceanaGold Corporation shares as common shares traded on TSX or NZX or as CDIs (CHESS Depositary Instruments) traded on ASX. OGD listed optionholders will be able to elect to trade their OceanaGold Corporation options on ASX or NZX.

The Schemes are subject to the satisfaction of a number of conditions, including approval by OGD shareholders and listed optionholders and approval by the Supreme Court of Victoria.

The TSX listing will provide OceanaGold with exposure to a broader spectrum of investors which is expected to increase trading liquidity in the company’s shares. As such, the Directors of OGD believe that the proposed restructure and TSX listing are in the best interests of OGD’s shareholders and listed optionholders and recommend that they vote in favour of the restructure at the meetings on 8 June 2007.

Expected timetable 
If the Schemes are approved on 8 June 2007, the expected timetable is:
15 June 2007 Court hearing for approval of the Schemes
18 June 2007 Effective date (the date when the Schemes become binding and the last day of trading in OGD securities)
19 June 2007 Listing of OceanaGold Corporation on ASX and NZX. Trading begins on ASX and NZX on a deferred settlement basis.
26 June 2007 Listing of OceanaGold Corporation on TSX. Trading begins on TSX.
29 June 2007 Despatch of holding statements and certificates.


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## Uncle Festivus (4 May 2007)

Lot's of market 'noise' on this one. Added to my list of takeover targets

LHG
OXR
OGD

& a few more words to make 100!


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## bigdog (9 June 2007)

ASX ann June 8
OGD 5:35 PM   Correction-Results of Scheme & General Meetings
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00728555

Effect of the Schemes
Under the Share Scheme, the Company’s shareholders transfer all of their shares in the Company to OceanaGold Corporation and receive one (1) OceanaGold Corporation share for every five (5) shares held in the Company.

Under the Option Scheme, the Company’s listed optionholders transfer all of their listed options in the Company to OceanaGold Corporation and receive one (1) OceanaGold Corporation listed option for every five (5) listed options held in the Company.

All fractional entitlements to OceanaGold Corporation shares or listed options will be rounded down to the next lowest whole number.

Timetable
The expected timetable is:

15 June 2007 Court hearing for approval of the Schemes
18 June 2007 Effective date (the date when the Schemes become binding and the last day of trading in OGD securities)
19 June 2007 Listing of OceanaGold Corporation on ASX and NZX. Trading begins on ASX and NZX on a deferred settlement basis.
26 June 2007 Issue of OceanaGold Corporation securities.  Listing of OceanaGold Corporation on TSX. Trading begins on TSX.
29 June 2007 Despatch of holding statements and certificates.
Any changes to the above timetable will be announced through ASX and NZX and notified on the Company’s website, www.oceanagold.com.


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## bigdog (18 June 2007)

ASX ann today including trading halt

OGD 12:33 PM   Completion of Schemes & Listing of OceanaGold Corporation 
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00730547

Update on North American Listing
Completion of Schemes & Listing of OceanaGold Corporation

OGD has also applied for suspension of trading of its shares and listed options on ASX and a trading halt on NZX after close of trading today.

OceanaGold Corporation (ASX and NZX code: “OGC”) will be listed on ASX and NZX on 19 June 2007. On that date, trading of OGC’s CDIs on ASX and common shares on NZX, and trading of OGC’s listed options on ASX and NZX, will commence on a deferred settlement basis.

Persons registered as OGD shareholders as at 5pm on 25 June 2007 (“Record Date”) will be entitled to receive one OGC common share or CDI for every five OGD shares held. Persons registered as OGD listed optionholders as at 5pm on the Record Date will be entitled to receive one OGC listed option for every five OGD listed options held. All fractional entitlements to OGC common shares or listed options will be rounded down to the next lowest whole number.

Despatch of holding statements for CDIs and listed options and certificates for common shares will occur on or about 29 June 2007.

The timetable for the implementation of the schemes is as follows:

18 June 2007 Effective date (the date when the Schemes become binding and the last day of trading in OGD securities)

19 June 2007 Listing of OceanaGold Corporation on ASX and NZX. Trading of CDIs and listed options begins on ASX on a deferred settlement basis. Trading of common shares and listed options begins on NZX on a deferred settlement basis.

25 June 2007 Record date for determining entitlements to the scheme consideration.

26 June 2007 CDIs, common shares and listed options in OGC are issued. Listing of OceanaGold Corporation on TSX. Trading of common shares begins on TSX.

29 June 2007 Despatch of holding statements for CDIs and listed options and certificates for common shares.


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