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OceanaGold Corporation (OCANF) is an intermediate gold and copper producer dedicated to responsibly maximizing Free Cash Flow from its operations. With four operational mines in the U.S., Philippines, and New Zealand, OceanaGold focuses on delivering shareholder value through strong financial performance.
The company recently reported positive operational and financial results for Q1 2024, showcasing a commitment to growth and profitability. OceanaGold's key projects, like the Haile Gold Mine and Didipio Mine, are poised for increased production and enhanced performance in the coming quarters.
By maintaining a robust balance sheet and seeking new opportunities for exploration and development, OceanaGold remains positioned for sustained success in the mining industry.
OceanaGold (OCANF) has appointed Stefanie Loader as Non-Executive Director to its Board of Directors, effective immediately. Ms. Loader brings significant expertise as a geologist and mining executive with experience in operations leadership, mineral exploration, and project development across multiple commodities and regions.
Her notable positions include serving as Managing Director of Northparkes copper and gold mine in Australia (2012-2017), Chair of the NSW Minerals Council (2015-2017), and various roles with Rio Tinto including Exploration Executive. Ms. Loader holds a B.Sc. Honours in Geology and was recognized among Australian Financial Review's 100 Women of Influence in 2013. She recently won the 2024 Outstanding Contribution to NSW Mining Award.
OceanaGold has reported significant growth in its Mineral Reserves and Resources for 2024. The company's Mineral Reserves increased by 27% to 6.2 Moz Au net of mining depletion at a 15% higher grade, while Measured and Indicated Mineral Resources grew by 8% to 8.9 Moz Au.
Key highlights include the declaration of initial Mineral Reserves at Wharekirauponga (Waihi) of 4.1 Mt at 9.2 g/t for 1.21 Moz Au, and an increase in Mineral Reserves at Didipio by 0.14 Moz Au. The company also reported an increase in Indicated Mineral Resources at Wharekirauponga to 2.4 Mt at 17.9 g/t for 1.4 Moz Au, and a 0.17 Moz Au increase at Macraes.
The company plans to invest $40M in exploration across all four sites in 2025, representing its highest exploration budget in five years.
OceanaGold (TSX: OGC, OTCQX: OCANF) has announced it will release its fourth quarter and full year 2024 operational and financial results after market close on Wednesday, February 19, 2025. The company will host a conference call and webcast to discuss the results on Thursday, February 20, 2025, at 10:00 am Eastern Time.
The results will be available on the company's website, and investors can participate in the discussion through various dial-in numbers provided for North America, Toronto, and Australia. A recording of the call will be made available on OceanaGold's website for those unable to attend.
OceanaGold welcomes New Zealand Parliament's passing of the Fast-track Approvals Bill for significant infrastructure projects. The new process, opening for applications on February 7, 2025, includes the Waihi North Project and proposed Wharekirauponga underground mine (WUG) among 149 listed projects. The company plans to submit its Fast-track application in early 2025, expecting full permits by year-end 2025, allowing underground development work to begin in 2026. $40-45 million of early works not requiring Fast-track approvals are planned for 2025. The WUG project, validated by recent pre-feasibility study results, aims to deliver long-term benefits for shareholders, workforce, local communities, and New Zealand's economy.
OceanaGold has announced Pre-feasibility Study (PFS) results for the Waihi District, including the existing Waihi operation and proposed Wharekirauponga underground mine in New Zealand. Key highlights include:
- Initial Mineral Reserve of 4.1 Mt at 9.2 g/t for 1.2 Moz of gold at Wharekirauponga
- After-tax NPV5% of $621M at $2,400/oz gold, or $138M at $1,750/oz
- IRR of 24% at $2,400/oz gold, or 9.2% at $1,750/oz
- Total gold production of 1.6 Moz over 15-year mine life
- Average All-in Sustaining Cost of $994/oz
- Growth capital of $556M over 8 years
- First ore expected in 2032
The project includes significant exploration upside with ~400 koz of Inferred Resources and recent results showing mineralization extends further. Early-works 2025 capital budget of $40-45M has been approved for design and construction activities.
OceanaGold has announced significant exploration results from its Wharekirauponga project, located 10 kilometers from the Waihi operation in New Zealand. Notable high-grade drill intercepts include 34.7 g/t Au over 4.2m and 54.9 g/t Au over 1.4m from the East Graben (EG) vein zone. The company plans to release a NI 43-101 pre-feasibility study for the Waihi North Project on December 11, 2024. Drilling results demonstrate continued potential for extensions to the EG vein and numerous hanging wall and footwall veins, with significant mineralization found in all six holes.
OceanaGold reported strong Q3 2024 results with gold production of 134,900 ounces, a 37% increase from Q2, and 3,400 tonnes of copper. The company achieved record gold production at Haile (64,900 ounces) and improved All-In Sustaining Cost to $1,729 per ounce. Financial highlights include Net Profit of $61 million, EPS of $0.08, and Free Cash Flow of $66 million. The company repaid $40 million on credit facility and increased Net Cash to $72 million. Looking ahead, Q4 2024 guidance projects gold production between 142,000-162,000 ounces with AISC between $1,400-$1,650 per ounce.
OceanaGold (TSX: OGC) (OTCQX: OCANF) has announced that it will release its operational and financial results for the third quarter of 2024 after market close on Wednesday, November 6th, 2024. The results will be available on the company's website at www.oceanagold.com.
A conference call and webcast will be held on Thursday, November 7th, 2024, at 10:00 am Eastern Time to discuss the results. Senior management will host the event. Interested parties can register for the webcast using the provided link. Toll-free access for North America is available at +1-888-510-2154, while international participants can dial +1 437-900-0527.
For those unable to attend, a recording of the call will be made available on the company's website.
OceanaGold (TSX: OGC) (OTCQX: OCANF) has announced that two of its projects in New Zealand have been included in the list of proposed projects under the government's Fast-track Approvals Bill. The Waihi North Project, which includes the WKP proposed underground mine, and the Macraes Phase 4 Project, a mine extension permit, are among the 149 Listed Projects eligible to apply for expedited approvals.
The Fast-track Approvals Bill, expected to be passed into law later this year, aims to streamline the approval process for regionally and nationally significant infrastructure and development projects. Gerard Bond, President & CEO of OceanaGold, welcomed the inclusion, stating that it would help preserve 1,000 existing jobs, create new employment opportunities, and deliver economic benefits to local communities and the country.
OceanaGold (TSX: OGC) (OTCQX: OCANF) has released impressive results from exploration and resource conversion drilling at the Haile Gold Mine in the United States. The company aims to delineate 2 million ounces underground at Haile by the end of 2024. Significant drill highlights include:
- 82.0 m @ 35.07 g/t Au at Ledbetter Phase 4
- 4.6 m @ 398.12 g/t Au at Ledbetter Phase 4
- 71.0 m @ 16.80 g/t Au at Ledbetter Phase 4
- 40.5 m @ 13.30 g/t Au at Horseshoe
The company is evaluating whether to mine the last phase of Ledbetter from underground. Drilling at Horseshoe Extension has intersected new mineralization near existing infrastructure. OceanaGold plans to define an initial resource estimate for Horseshoe Extension in Q1 2025.
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