The ramping up of Haile, a more than $US380million ($NZ531million) development, was dogged by equipment commissioning issues earlier this year and prompted a downgrade to Haile’s expected maiden, annual production.
The company’s third-quarter report is due for release later this month.
Oceana chief executive Mick Wilkes said in a market update yesterday the process plant throughput had improved and was close to design rates, while gold grade and recoveries were in line with expectations.
"The operation is back on track following the disappointment of the secondquarter," Mr Wilkes said.
During calendar 2017, Oceana estimated it would produce 550,000-600,000oz of gold and 18,000-19,000 tonnes of copper; the former down on expectations but still a record for the 27-year-old company.
In late July, Oceana reported Haile had produced almost 37,000oz in first-half production.
"The Haile operation is cash flow positive and operating costs have been generally in line with expectations, although mining unit costs are slightly higher due to lower productivity during this ramp-up phase," Mr Wilkes said yesterday.
Oceana expects to disclose the final reconciled revenue and costs associated with Haile’s pre-commercial operating period when it releases its third-quarter financial and operating results later this month.
The Haile project was started less than two years ago
