OceanaGold shares rise on record output, revenues, profit

TSX- and ASX-listed gold producer OceanaGold has reported record profit for 2017, as record output and subsequent record revenues lifted the bottom line. The Melbourne, Australia-based company reported a full-year net profit of $172-million, or $0.28 a share, up 26% year-on-year from $136-million, or $0.22 a share, in 2016. OceanaGold advised that the improved performance was in spite of a noncash impairment of $18-million booked in the second quarter.