Business
Oceanagold Achieves Full Year 2021 Guidance On Record Annual Production From Haile
(All financial figures are unaudited and denominated in US Dollars unless otherwise stated) BRISBANE, Australia, Jan. 24, 2022 /CNW/ - OceanaGold Corporation (T
About this update from Oceanagold Corporation
[{"type":"text","content":" (All financial figures are unaudited and denominated in US Dollars unless otherwise stated) BRISBANE, Australia, Jan. 24, 2022 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) (the \"Company\") is pleased to announce its preliminary full year and fourth quarter 2021 operational results for the year ended December 31, 2021. The numbers contained in this document are unaudited and subject to finalisation. The Company will release its complete 2021 audited financial and operational results after TSX market close on Wednesday February 23, 2022 (Toronto Eastern Standard Time). Key Highlights Consolidated full year gold production increased 20% year-on-year with 362,807 ounces produced. Consolidated fourth quarter 2021 gold production of 106,591 ounces, a 35% increase quarter-on-quarter. Unaudited consolidated All-In Sustaining Costs (\"AISC\") for the full year of $1,247 per ounce and cash costs of $742 per ounce on gold sales of 381,562 ounces. Unaudited consolidated AISC for the fourth quarter of $1,326 per ounce on 105,336 ounces of gold sold. Haile exceeded full year production guidance with an annual record of 189,975 ounces of gold produced. Didipio exceeded full year production guidance with 14,863 ounces of gold and 2,323 tonnes of copper produced over only two months; ramp-up to full production tracking ahead of schedule. Cash balance increased to $133 million with total immediate available liquidity increasing to $163 million. Scott Sullivan, Acting CEO of OceanaGold said, \"We finished the year with a strong fourth quarter of production, backed by solid operational performances from Haile, which delivered a record annual gold output and Didipio, where ramp-up is advancing ahead of schedule. We are delivering on our commitments by achieving our full year consolidated guidance and generating positive free cash flow for the first time in over two years.\" \"OceanaGold is focused on delivering value to shareholders over the long term by consistently executing our business plans and making prudent investment decisions geared to maximise the value of our operations. Although we have made significant improvements to the business over the past several months, we have more work ahead of us to implement additional changes and regain our status as one of the premier gold miners in the industry. I have full confidence that w...