Welcome to our dedicated page for Oceanagold news (Ticker: OCANF), a resource for investors and traders seeking the latest updates and insights on Oceanagold stock.
OceanaGold Corporation (OTCQX: OCANF) generates frequent news flow tied to its gold and copper mining operations, exploration programs and corporate developments. The company’s releases cover performance at its four operating mines – Haile in the United States, Macraes and Waihi in New Zealand, and the 80%-owned Didipio Mine in the Philippines – as well as updates on its growth projects.
Investors following OCANF news will see regular quarterly operating and financial results, where OceanaGold reports gold and copper production, All-In Sustaining Cost (AISC), Free Cash Flow, and non-IFRS measures such as Adjusted Net Profit and Adjusted EBITDA. These updates also discuss capital allocation decisions, including dividends and share repurchases under the company’s Normal Course Issuer Bid.
Another major category of news relates to exploration and resource conversion. OceanaGold frequently publishes detailed drill results from Haile and Wharekirauponga, including intercepts from targets such as Ledbetter Phase 4, Horseshoe Underground, Pisces, Clydesdale and the EG vein zone at Wharekirauponga. These releases often describe how drilling extends mineralization, increases resource confidence or identifies new high-grade zones within existing systems.
Project and permitting milestones are also prominent in OceanaGold’s news flow. The company has reported on the Fast-track permitting process and subsequent Expert Panel decisions for the Waihi North Project in New Zealand, including the final decision approving development and operation of the project and the Wharekirauponga Underground mine. Updates on early works, such as construction of a services trench and expansion of the water treatment plant, are included in these communications.
Corporate and capital markets announcements round out the news stream. These include notices of conference calls and webcasts, voting results from annual general and special meetings, approval and implementation of a three-for-one share consolidation, and the company’s exploration of a potential dual listing on a major U.S. exchange. Bookmarking the OCANF news page on Stock Titan allows readers to review this sequence of operational, financial, exploration and corporate updates in one place.
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.
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.