Financial Summary

Headquarters – Melbourne, Australia

Stock Exchange listing

Primary Activities

Macraes Gold Mine, New Zealand - New Zealand’s largest gold mine.
Reefton Gold Mine, New Zealand - OceanaGold’s second gold mine was commissioned in 2007.
Frasers Underground Gold Mine, New Zealand - targetting the deeper extension of the Macraes orebody, the company's third mine commissioned in early 2008.
Didipio Gold and Copper Project, Philippines – acquired through the Climax Mining merger in 2006, the project was put on care and maintenance in December 2008 and is currently undergoing re-optimisation studies.
Exploration opportunities in New Zealand and the Philippines.

Issued Share Capital

	Full year 2009 US$’000	Full year 2008 US$’000	Full year 2007 US$’000
Gold sales	237,057	217,214	104,395
Release from other comprehensive income deferred unrealized loss on designated hedges	-	279	(16,407)
	237,057	217,493	87,988
Cost of sales, excluding depreciation and Amortisation	(121,310)	(138,154)	(81,669)
Depreciation and amortisation	(66,181)	(50,547)	(28,790)
Other expenses
Interest expense	(15,086)	(20,992)	(19,414)
General and administration	(9,179)	(15,338)	(11,632)
Foreign exchange gain/(loss)	(24)	2,254	(2,661)
Total other expenses	(400)	(18,738)	(22,075)

Gain/(loss) on fair value of undesignated hedges	58,241	(73,408)	(45,847)
Other income	731	3,069	7,003
Earnings / (loss) before income taxes	83,849	(75,623)	(95,022)
Income tax (expense)/benefit	(29,337)	20,888	25,983
Net earnings / (loss)	54,512	(54,735)	(69,039)
Net earnings /(loss) excluding hedges	13,743	(3,545)	(25,461)
Net gain/(loss) per share	$0.32	($0.34)	($0.47)

OceanaGold has three operating mines in New Zealand. The company produces between 280,000 to 300,000 ounces of gold annually.

Macraes- Gold Production

	12 months to Dec 2009	12 months to Dec 2008	12 months to Dec 2007

Throughput – dry milled tonnes	5,635,537	5,545,008	5,564,873
Mill Grade – g/t	1.47	1.31	1.24
Recovery - %	79.6%	78.6%	77.5%
Gold Produced – oz	213,049	183,680	145,312

Reefton - Gold Production

	12 months to Dec 2009	12 months to Dec 2008	12 months to Dec 2007

Throughput – dry milled tonnes	1,278,176	1,192,954	601,612
Mill Grade – g/t	2.60	2.47	2.60
Recovery - %	81.5%	81.8%	77.1%
Gold Produced – oz	87,342	76,132	37,897

J E Askew (Chairman)
T N Fern
J Klein
J P Leviste Jr
W H Myckatyn
J D Shale

M Salthouse

D Klinck