Oceanagold Stock Price, News & Analysis

OceanaGold Corporation (OCANF) has announced a 3-to-1 share consolidation effective June 23, 2025, following shareholder approval on June 4, 2025. The consolidation will reduce the company's outstanding shares from 693,379,818 to approximately 231,126,566. This strategic move is primarily aimed at increasing the per-share trading price to meet minimum requirements for a planned dual listing on a major U.S. exchange, potentially the NYSE, in the first half of 2026. The company expects this U.S. listing to enhance investor interest and trading liquidity. Post-consolidation shares will continue trading on TSX under symbol 'OGC' with new CUSIP 675222400. Performance rights and deferred share units will be proportionally adjusted, with fractional shares of 0.50 or more rounded up and less than 0.50 cancelled.

OceanaGold Corporation (OCANF) held its 2025 Annual General and Special Meeting with 77.12% shareholder participation. Shareholders approved all proposed items, including the election of eight directors and a significant 3:1 share consolidation plan aimed at facilitating a potential U.S. stock exchange listing in H1 2026. The consolidation, expected to be effective around June 23, 2025, received overwhelming support with 99.71% approval. Shareholders also approved PwC Canada as auditor (94.51%), executive compensation (97.30%), virtual-only meetings for 2026 (65.89%), and amendments to company articles (99.60%). The company is exploring dual listing options on major U.S. exchanges, including NYSE, to enhance investor reach and trading liquidity.

OceanaGold Corporation (OCANF) has released its 2024 Sustainability Report, highlighting key environmental, social, and governance achievements. The company maintained its MSCI "AA" and "Leader" rating while implementing an updated three-year Sustainability Strategy. Notable metrics include an 80% employee engagement score, exceeding the global mining sector benchmark by 8%. The company invested US$193 million in local suppliers, paid US$125 million in taxes and royalties, and contributed US$11 million to social investments.

Environmental achievements include zero material environmental incidents, completion of over 100ha of mine land rehabilitation (30% more than disturbed land), and meeting 70% of water needs through recycling. However, the report also noted two fatalities during the year, leading to the implementation of Safety Improvement Plans across all sites.

OceanaGold (OCANF) reported strong Q1 2025 financial and operational results. The company produced 117,400 ounces of gold and 3,400 tonnes of copper, both up 12% year-over-year, at an AISC of $1,796 per ounce. Financial highlights include a record average realized gold price of $2,858 per ounce, net profit of $101 million ($0.14 EPS), and strong free cash flow of $69 million. The company maintains a robust financial position with zero debt and $228 million in cash, up 18% from the previous quarter. OceanaGold repurchased 7.0 million shares for $20 million and declared a $0.01 quarterly dividend. The company announced a new Pisces discovery at Haile and is pursuing a potential share consolidation of up to 3:1 ratio to facilitate a possible U.S. exchange listing.

OceanaGold (TSX: OGC, OTCQX: OCANF) has announced key upcoming dates for shareholders and investors. The company will release its first quarter 2025 financial and operational results on Wednesday, May 7, 2025, after market close. A conference call with senior management to discuss the results is scheduled for Thursday, May 8, 2025, at 10:00 am EST.

The company will also hold its Annual General and Special Meeting of Shareholders (AGM) virtually on Wednesday, June 4, 2025, at 9:00 am EST. The record date for determining voting eligibility is April 23, 2025. Shareholders can access the virtual AGM through a live webcast platform.

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.