OceanaGold is planning a capital raising to fund the restructure of its existing gold hedging facilities and for working capital requirements.
The company, which owns the Macraes field in central Otago and operates the Reefton open-pit mine on the West Coast, made a profit of $US54.5 million in the year to December as it enjoyed a surge in the price of gold.
It is planning to raise funds through a private placement and selling subscription receipts, but must first get approval from investors at a special meeting on 25 March.
The offering will be conducted by a syndicate of underwriters led by Macquarie Capital Markets Canada.
