Oceanagold Stock Price, News & Analysis

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.

OceanaGold (TSX: OGC) (OTCQX: OCANF) has reported a fatality at its Didipio Mine in the Philippines. A contractor sustained serious head injuries while attempting to remove a metal blockage from a jaw crusher in late July and subsequently passed away in hospital. This incident follows another recent fatality at the same mine.

In response, OceanaGold is taking immediate action to improve safety measures, including enhancing the OurSafe Behaviours program, increasing hazard identification training, and expanding in-field coaching. The company is also providing support to the family and colleagues of the deceased. Despite these tragic events, there has been no impact on production at the Didipio Mine.

OceanaGold (TSX: OGC, OTCQX: OCANF) has announced significant results from its ongoing exploration and resource conversion program at the Wharekirauponga (WKP) deposit in New Zealand.

Highlighted drill intercepts include:

• 9.9 g/t Au over 20.3m from 410.0m (WKP129A, conversion)
• 19.4 g/t Au over 7.1m from 398.0m (WKP129A, conversion)
• 34.5 g/t Au over 3.8m from 573.0m (WKP130A, extension)
• 12.8 g/t Au over 5.6m from 569.1m (WKP130, extension)

The EG Vein system has extended by 200 meters along the southern strike, demonstrating strong growth potential. A new drill site commissioned in March 2024 has enabled further testing for resource extensions. The 2024 exploration program will focus on resource growth from drill sites 8 and 9, with a pre-feasibility study expected by year-end.

OceanaGold (TSX: OGC) (OTCQX: OCANF) reported its Q2 2024 results, producing 98,200 ounces of gold and 2.8 kt of copper. The company expects to meet its full-year 2024 guidance, with production more than 60% weighted towards the second half. Key highlights include:

- Free Cash Flow of $31 million during the quarter
- Net Cash position of $30 million as of June 30, 2024
- Declaration of a $0.01 semi-annual dividend
- Initiation of a share buyback program

The company's investment in waste stripping at Haile and Macraes, along with Horseshoe Underground reaching full mining rates in July, positions OceanaGold for strong Free Cash Flow generation in H2 2024.

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.