Mississauga, ON -- (SBWIRE) -- 10/30/2014 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled “OceanaGold Shares Fall to Eight Month Low on Q3 Report.”
Companies mentioned in this article include OceanaGold Corp. (TSX:OGC).
Spot gold prices floating around the $1,200 per ounce price point and increasing production costs are putting pressure on miners profit margins. Gold prices softened again on Wednesday and Thursday following the Federal Open Market Committee announcement that it is bringing to an end this month its asset purchase program, which had been tapered throughout 2014 from $85 billion per month to $15 billion in October. Spot gold slipped 1.3 percent on Wednesday and is slipping below $1,200 on Thursday, taking the precious yellow metal back near four-year lows. With that, gold plays continue to remain unloved, but that doesn’t mean bargain hunting investors aren’t culling through reports looking for profitable companies in the often volatile industry.
Multinational gold and copper producer OceanaGold Corp. (TSX:OGC) is New Zealand’s largest gold producer with its gold operation at the Macraes Goldfield and the Reefton Gold Mine on the west coast. To the northwest, the company’s flagship property is the Didipio Mine in the Philippines. Didipio commenced production in April 2013 and has a current mine life to 2029.
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