Oceana's high during the past year was $3.68 in June, but since January 21, its shares had risen from $2.73 to plateau in recent days around $4.10.
This week Oceana had also raised its stake in a Nevada gold exploration company Gold Standard Ventures to near takeover level, attaining 19.9% after having having paid $C12.5 million ($NZ13.6 million) for a further 4.7% of its stock.
While the global equities markets have been highly volatile lately, global spot gold prices had risen 9.3% during the past three months, including 6.8% during the past month to trade at up 0.4% at $US1194 ($NZ1800) yesterday, with some analysts now expecting it to broach the $US1200 mark.
Craigs Investment Partners broker Peter McIntyre said Tuesday's ASX trading saw its ASX200 index ‘‘struggle'', ending down 2.88%, mirroring its global peers.
He said 10 sectors within the index fell, with the financial sector hardest hit, followed closely by energy companies.
‘‘The fall equated to $A40billion ($NZ42.6billion) in value, with the index closing at a 2-year low,'' he said.
Of the gold-producing companies' rising share prices, he said: ‘‘All things being equal, their share price will outperform when the gold price is on the way up.''
Forsyth Barr broker Suzanne Kinnaird said the investor-sparked global equity sell-off continued this week, albeit slowing on Tuesday trading, with major banks leading the declines amid uncertainty over global economic recovery.
She said European stocks had fallen for a seventh day, with an index of banks sliding to its lowest levels since 2012, while the UK's FTSE approached three-year lows.
In a private placement in May last year, Oceana acquired an initial stake 14.9% stake in Gold Standard Ventures at a cost of $C65c per share, then later in the year, increased its position to 15.2% through an open market share purchase.
This week's tranche of shares cost Oceana $C1 each and it now holds 38,075,926 Gold Standard shares, or 19.9% of the company, just shy of the point that could trigger a takeover.
Gold Standard is listed on the Toronto exchange Venture exchange and has gold discoveries on the Carlin Trend of Nevada, NZResources.com reported.
The Carlin Trend has been one of the most prolific areas in the United States for modern gold mines and is noted for its massive low-grade gold discoveries.
Gold Standard's website said since the mid-1960s more than 40 separate gold deposits had been delineated along the Carlin Trend, where past production, reserves and resources exceed 100 million ounces.
Last year Oceana also completed a $996million scrip-only takeover of Romarco Minerals which held the development Haile gold project in South Carolina, now being constructed as a major mining project.
