OceanaGold Corporation Annual Report 2008 ‘08 HIGHLIGHTS INCREASED YEARLY GOLD SALES BY COMMISSIONED THE FRASERS UNDERGROUND TO 264,124 MINE IN JANUARY – THE 49% OUNCES COMPANY’S SECOND NEW COMPARED TO FY2007 GOLD MINE IN NEW ZEALAND IN THE PAST TWO YEARS ACHIEVED EBITDA (EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION EXCEEDED DESIGN AND AMORTISATION BUT EXCLUDING GAIN/LOSS THROUGHPUT RATES AT ON UNDESIGNATED HEDGES) OF THE REEFTON OPERATION AND PROCESSED $66.1 MILLION MORE THIS COMPARES TO FY 2007 19% ORE EBITDA OF $8.7 MILLION THAN PLANNED IN 2008 ACHIEVED STRONG CASH COST IMPROVEMENT BY Q4 THROUGH COMPLETED OF THE INCREASED 60% BULK EARTHWORKS AND DETAILED GOLD PRODUCTION DESIGN FOR THE DIDIPIO AND A DECREASE IN GOLD & COPPER PROJECT CONSUMABLE COSTS TO ACHIEVE IN LUZON, PHILIPPINES BEFORE TEMPORARILY PLACING IT ON PER CARE & MAINTENANCE $532 OUNCE OceanaGold Corporation Corporate Office Level 5, 250 Collins Street Melbourne, Victoria, 3000 Australia PO Box 355, Flinders Lane Post Office Melbourne, Victoria, 3000 Australia T: +61 3 9656 5300 F: +61 3 9656 5333 E:
[email protected] www.oceanagold.com Delivering on sustainable growth 02 Chairman and CEO’s Review 06 Financial Analysis 10 Assets at a Glance 12 Operations 14 Development 16 Exploration Profile 22 Sustainability 40 Our People OceanaGold Corporation (OceanaGold) is a significant Pacific Rim gold producer listed on the Toronto, Australian 42 Corporate Governance and New Zealand Stock Exchanges. With three operating 48 Financial Statements gold mines and a portfolio of assets located in New Zealand 72 Shareholder Information and the Philippines, the company is forecast to produce between 280,000 to 300,000 ounces of gold in 2009.