Insider Spotlight
Net income jumped 206 percent to $67.4 million in the first six months, while revenue climbed 63 percent to $285.3 million. Gold production fell 7 percent to 41,800 ounces, while copper output declined 17 percent to 5,900 tonnes.
Management’s view
“During the second quarter, we maintained safe and responsible production of gold and copper in line with our guidance. With today’s gold prices and another solid quarter of operating performance, we announced another healthy quarterly dividend for our shareholders,” president Joan Adaci-Cattiling said in a statement on Thursday.
She said the company continues to ramp up underground mining while accelerating drilling at the True Blue prospect and other near-mine targets to support future growth.
Stronger second half ahead
OceanaGold said it remains on track to achieve its 2026 production, cost and capital spending guidance, with higher production and lower costs expected in the second half as underground mining rates increase.
The company generated $62.3 million in free cash flow during the first half, more than double a year earlier despite higher all-in sustaining costs of $1,436 per ounce.
It also declared a second-quarter dividend of $17 million, or $0.0075 per share, equivalent to about P0.4628 per share. Shareholders on record as of Aug. 20 will receive the dividend on Sept. 17.
—Edited by Miguel R. Camus
