Oceana Gold 's pot at the end of the rainbow

Gold producer Oceana Gold has reported a net profit of $A10.92 million ($NZ11.89 million) for the June half year.

Australia's Oceana Gold bought Oceana Gold New Zealand, formerly GRD Macraes Limited, in December 2003 and listed on the Australian and New Zealand stock exchanges in mid-March.

It has about 6.7 million ounces of resources, including 2.6 million ounces of reserves, in the New Zealand Macraes, Reefton and the recently discovered Sams Creek goldfields.

Oceana Gold produced 175,000 ounces of gold in New Zealand last year, making it the country's largest gold producer.