However, preparations to mothball its West Coast operations will continue.
Production expectations for the 2014 calendar year remain at 275,000oz to 305,000oz of gold and 21,000 tonnes to 24,000 tonnes of copper.
However, in Oceana's 2015 cost guidance update yesterday, it has expectations for 2015 of 295,000-335,000oz and a decline in copper, in a range of between 21,000-23,000 tonnes.
The copper by-product from the Philippines offsets the high gold production cost - in the face of soft global gold prices - making Oceana one of the most competitive producers in the world.
Oceana has signalled it wants to mothball its open pit Reefton mine by the end of 2015 and similarly shut the open pit and underground operations at Macraes, in East Otago, by the end of 2017.
Oceana chief executive Mick Wilkes described 2014 as having delivered a ''strong production performance'' and the company was looking to do the same again in 2015, with increased gold from Didipio in the Philippines and from improved profit margins in New Zealand, the result of collar hedging contracts on gold prices.
''In this volatile and persistently challenging environment for gold producers, Oceana Gold is uniquely positioned as one of the lowest cost producers globally underpinning strong free cash flows from our business,'' Mr Wilkes said.
Craigs Investment Partners broker, Peter McIntyre, said the update ''had no surprises'' and revealed Oceana was continuing to operate from a low cost base and would be profitable next financial year.
''Key to this will be the price of gold, and that all depends on the strength of the US dollar next year,'' Mr McIntyre said.
For 2013 calendar year, Oceana's revenue was up 43% to $US553.6 million, and should have resulted in an almost $US30 million profit, but that was dragged down by an impairment charge of $US77.6 million against Macraes' mine life having been reduced, to an eventual loss of $US47.9 million.
While other mines were struggling with the spot gold price hovering around $US1200, Mr McIntyre said Oceana's New Zealand price was helped by hedging and sale of copper ''There will be a lot of companies out there struggling with a much higher cost base,'' Mr McIntyre said.
Oceana's consolidated cash costs to produce an ounce of gold - blending Philippine and New Zealand operations - is expected to be in a range of $US450-$US530oz.
While some competitors' costs will be double that, Oceana's New Zealand's cash costs, without the benefit of copper offsets, would be $US950-$US1000oz. For 2013, Oceana's cash cost for all operations was $US426, with New Zealand cash cost alone at $US740.
The relatively new accounting practice of posting ''all in sustaining costs'' is $US770-$US840oz across the combined New Zealand and Philippine operations.
Mr Wilkes expects Oceana to spend about $US100 million in capital and exploration costs in 2015 across all operations; with capital in New Zealand declining to $US33 million.
''The reduction [in New Zealand] is a direct result of the lower sustaining and capitalising mining costs at Macraes, and at Reefton where the operation will transition into care and maintenance by the end of the year [2015],'' Mr Wilkes said.
At Didipio, the capital expenditure is expected to be about $US63 million, with $US23 million for underground mining development and $US190 million for connecting to the national power grid, which would reduce operating costs of using generators.
Oceana expected to spend about $US4 million on exploration in the Philippines, but if additional exploration permits were granted, that spending could rise.
