OceanaGold Corporation reported its operational and financial results for the three and nine months ended September 30, 2024. According to the report, the key highlights said, OceanaGold produced 134,900 ounces of gold, a 37% increase in gold production from the prior quarter.
Increased quarterly production from all sites, including record gold production from Haile. All-In Sustaining Cost improved to $1,729 per ounce, based on 124,800 ounces sold; that book profit of $61 million that stand EBITDA margin of 45%.
Expect to deliver a strong fourth quarter, with consolidated gold production between 142,000 and 162,000 ounces and consolidated AISC between $1,400 and $1,650 per ounce in the quarter.
Gerard Bond, President and CEO of OceanaGold, said “We are pleased to have delivered higher gold production in the quarter, with Haile delivering a record 64,900 ounces. Record high gold prices helped drive an increase in Free Cash Flow generation of nearly $100 million year to date, which allowed us to continue to strengthen the balance sheet and increase capital returns to our shareholders.
Looking ahead, the fourth quarter should be our strongest of the year and we expect to continue to generate substantial Free Cash Flow. This will enable us to continue to advance our organic growth opportunities, such as the Waihi North Project, while also delivering returns for our shareholders.”
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