New Zealand’s largest listed gold miner has had little trouble finding capital for new local exploration and drilling, with OceanaGold raising more than $30 million through a non-underwritten placement.

The trading halt placed on the mining company has now lifted, after it was suspended yesterday to allow for the bookbuilding process.

This morning, OceanaGold revealed it had successfully raised $30.1 million ($A24.2 million) through a non-underwritten placement of about 24.2 million new ASX-listed Chess Depositary Interests (CDIs) at an issue price of $A1.

The discount offer price came in at 11.1% less than the volume weighted average price of OceanaGold ASX-listed CDIs over the past week.

As well as operations in the Philippines, OceanaGold runs New Zealand's largest gold mining operation at the Macraes complex in Otago, as well as the Reefton open-pit mine on the South Island’s west coast.

The company is expecting to produce 280,000 - 300,000 ounces of gold from the New Zealand operations in 2009.

Interim chief executive Marcus Engelbrecht said the placement attracted strong interest from a range of existing and new institutional investors, allowing the company to immediately mobilize its brownfields exploration programme in the vicinity of its existing New Zealand mines.

“We are excited about this program and the potential to materially extend the mine life at both Macraes and Reefton, particularly as the ability to bring unhedged gold production to the market adds real value to the company.

“In addition, we will also be able to complete the necessary studies on the Didipio gold-copper project which will unlock further untapped upside, and provide strategic options for the future of the asset."

The allotment of placement CDIs, which will rank equally with existing ASX-quoted CDIs, is expected on 28 July.