Business
OceanaGold Delivers Strong First Quarter with $255M of Free Cash Flow
(All financial figures in United States dollars unless otherwise stated) Produced 130,100 ounces of gold and 3,200 tonnes of copper, in line with the full
About this update from Oceanagold Corporation
[{"type":"text","content":" (All financial figures in United States dollars unless otherwise stated) Produced 130,100 ounces of gold and 3,200 tonnes of copper, in line with the full year plan. Delivered record revenue, record operating cash flow, and increased the cash balance by 30%. Progressed growth projects and returned $77 million to shareholders through share repurchases. VANCOUVER, BC, May 6, 2026 /CNW/ - OceanaGold Corporation (TSX: OGC) (NYSE: OGC) (\"OceanaGold\" or the \"Company\") reported its operational and financial results for the three months ended March 31, 2026. The consolidated financial statements and Management's Discussion and Analysis (\"MD&A\") are available at www.oceanagold.com. First Quarter Highlights Safely and responsibly produced 130,100 ounces of gold and 3,200 tonnes of copper, as per plan. All-In Sustaining Cost (\"AISC\")† of $2,094 per ounce. Record quarterly revenue of $715 million at a record average realized gold price of $4,894 per ounce. EBITDA Margin† of 58%, net profit1 of $228 million and EPS of $1.01. Record Operating Cash Flow of $382 million, generating strong Free Cash Flow† of $255 million. Cash balance increased by 30% to $620 million. No debt, with revolving credit facility undrawn. Completed $77 million in share repurchases, in line with the $350 million buyback program for 2026. Released updated NI 43-101 technical reports for Haile, Macraes and Didipio, demonstrating a stable production profile and longer mine lives at each of the assets. Confirmed continuity and extension of a newly defined southern high-grade zone at Wharekirauponga, with the portal now constructed and decline development underway. Listed on the New York Stock Exchange (\"NYSE\") on April 7, 2026. Gerard Bond, President and CEO of OceanaGold, said \"We have started 2026 strongly, delivering results broadly in line with our expectations, while continuing to execute on our growth and capital allocation priorities. Record Operating Cash Flow delivered a near-record $255M in Free Cash Flow in the quarter, growing our cash balance by 30% even after returning capital to shareholders through our dividends and buyback programs. Our NYSE listing in April further broadens our investor base, and we released encouraging exploration results at Wharekirauponga that highlight the quality and upside potential of this high‑grade orebo...