Oceanagold Stock Price, News & Analysis

OceanaGold (OCANF) has submitted a Fast-track approval application for the Waihi North Project and reported new drilling results at Wharekirauponga, New Zealand. The company expects full permitting by end of 2025.

Recent high-grade drill intercepts include: 6.3m @ 8.7 g/t Au, 1.7m @ 24.6 g/t Au, 3.5m @ 14.0 g/t Au, and 5.7m @ 5.3 g/t Au, demonstrating continuity beyond the 1.2 Moz of Reserves declared in December 2024.

Five drill holes have been completed, with four showing significant mineralization in the high-grade southern shoot of the East Graben vein zone. The 2025 exploration program will target resource growth with 8,600 metres planned, focusing on the EG vein zone for resource conversion and growth.

OceanaGold (OCANF) has announced significant exploration results from its Haile Gold Mine, including a new discovery called Pisces and additional high-grade drill results at Horseshoe. The Pisces discovery, located 300m from Horseshoe, showed impressive drill results including 44.2m @ 10.9 g/t Au and 9.4m @ 44.1 g/t Au.

The company has increased its 2025 exploration budget at Haile by 20% to $10M, the largest since the mine began production. The Pisces mineralization defines an exploration target area of approximately 300 x 250 x 25 metres, with mineralization remaining open in all directions.

At Horseshoe, eighteen additional resource definition holes totaling 5,587 metres have been completed, with notable results including 12.9m @ 50.1 g/t Au and 31.9m @ 11.7 g/t Au. An additional 10,500 metres of resource definition and conversion drilling is planned for 2025.

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.