OceanaGold rises on improved 2017 outlook

The TSX-listed stock of multinational gold producer OceanaGold on Monday rose as much as 3.54% to C$3.80 apiece following a company announcement stating that it had lifted expected 2017 output by 35% over the current year and reduced all-in sustaining costs (AISC) by 15%. Melbourne, Australia-based OceanaGold said it expected to produce between 550 000 oz and 610 000 oz of gold, at an AISC of between $600/oz and $650/oz during 2017, up from a 2016 guidance of between 385 000 oz and 425 000 oz produced at an AISC of $700/oz to $750/oz.