OceanaGold to produce 335,000 ounces of gold
OceanaGold says it expected to produce up to 335,000 ounces of gold this year at a cash cost of up to $530US an ounce, and an all inclusive cost of up to $840 an ounce.
Gold is trading at a little above US$1200 an ounce, having fallen from more than $1880 in 2011.
OceanaGold says it expected to produce up to 120,000 ounces of gold from its mine in the Philippines, at an all inclusive cost of up to $50 an ounce.
The up to 215,000 ounces it will produce in New Zealand will cost up to $1250 an ounce on an all inclusive basis.
OceanaGold produced nearly 215,000 ounces of gold in the nine months ended September.
Investment company Rangatira made tax profit
The investment company, Rangatira, has made a first half after tax profit of $3.9 million dollars in the six months ended in September.
The company, which is 51 percent-owned by the JR McKenzie Trust, also reported that operating earnings rose by 1 million dollars, to 2.8 million, over the year earlier period.
The increase was due to strong seasonal revenue earnings from investments, including Hellers, Polynesian Spa, Rainbow's End and Tuatara Brewing Company.
Renters do not want to buy in the current market
A study involving people who rent reveals many aren't looking to buy a property in the current market.
The research by Westpac and Massey University, involved surveying about 800 Westpac customers aged between 18 and 45, of which about 60 percent own a home and nearly 40 percent rent.
Of those who rent, two-thirds were not currently looking to buy a property, indicating that saving for a deposit is the biggest hurdle.
In the Reserve Bank's November financial stability report, it says it wasn't going to lift the bank-lending restrictions to people with low deposits.
It's worried that an unexpected surge in immigration could fuel house-price inflation.
