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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 (TSX: OGC) (OTCQX: OCANF) has announced a share buyback program approved by the Toronto Stock Exchange. The company plans to repurchase up to 35.5 million common shares, representing approximately 5% of its outstanding shares and public float. The Normal Course Issuer Bid (NCIB) will be conducted over the next 12 months through the TSX or alternative Canadian trading systems. OceanaGold has also entered into an Automatic Share Purchase Plan (ASPP) with a designated broker to facilitate repurchases during blackout periods. The company's CEO, Gerard Bond, stated that this initiative aligns with their capital allocation framework, supported by expected free cash flow and strong metal prices.
OceanaGold (TSX: OGC, OTCQX: OCANF) announced its schedule for releasing operational and financial results for Q2 2024. The results will be disclosed on July 30th, 2024, after market close, and will be accessible on the company's website. A conference call/webcast to discuss these results will take place on July 31st, 2024, at 10:00 am ET. Registration details for the webcast and conference call are provided, and a recording will be available afterward on the company's website.
OceanaGold (TSX: OGC, OTCQX: OCANF) has finalized the sale of its interest in the Blackwater project in New Zealand. The deal, pending regulatory approvals and closing conditions, has been completed, resulting in OceanaGold receiving $30 million in cash. The transaction is expected to generate an after-tax accounting gain of $10 million in the second quarter of 2024.
OceanaGold (TSX: OGC, OTCQX: OCANF) has announced the tragic death of an employee at its Didipio Mine in the Philippines. The incident occurred on June 21, 2024, near the mine's paste plant, where the employee was found unresponsive and could not be revived. In response, OceanaGold has halted operations at the site for 24 hours to inform the workforce and initiate an investigation. Authorities and the employee's next of kin have been notified as the company offers support to the affected family and colleagues.
OceanaGold held its 2024 Annual General and Special Meeting of Shareholders virtually on June 6, 2024.
A total of 448,417,017 common shares were voted, representing 63.05% of the total outstanding shares. Shareholders voted in favor of all business items, including the re-election of directors, appointment of auditors, and executive compensation. Notably, directors received high approval rates, with Gerard M Bond receiving the highest at 99.81%.
The appointment of PricewaterhouseCoopers LLP as auditors was approved with 93.80% of votes. Additionally, a non-binding advisory vote on executive compensation and a new Performance Share Rights Plan were passed with 98.77% and 93.44% approval, respectively.
OceanaGold has successfully completed an IPO for its subsidiary, OceanaGold Philippines, Inc., raising US$106M through the sale of 20% interest in OGPI. The shares are now listed on the Philippines Stock Exchange under the ticker 'OGP'.
OceanaGold released its 2023 Sustainability Report, emphasizing its commitment to sustainable practices in mining. The company achieved various milestones in safety, environmental responsibility, and community engagement. The report highlights the company's adherence to global standards and its efforts to create a positive impact beyond mining operations.
OceanaGold reported its operational and financial results for the first quarter of 2024, expecting strong production growth and free cash flow delivery. The company remains on track to meet full-year guidance with 104,800 ounces of gold and 3,000 tonnes of copper produced. AISC of $1,823 per ounce, revenue of $270.3 million, and net debt of $81.8 million were reported. Exploration results were positive, but the net loss of $5.3 million was a negative aspect.
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