Business
OceanaGold Reports Full Year 2022 Financial Results and Provides 2023 Guidance and Multi-Year Outlook
And Provides 2023 Guidance and Multi-Year Outlook (All financial figures in US Dollars unless otherwise stated) VANCOUVER, BC, Feb. 21, 2023 /CNW/ - OceanaGold
About this update from Oceanagold Corporation
[{"type":"text","content":" And Provides 2023 Guidance and Multi-Year Outlook (All financial figures in US Dollars unless otherwise stated) VANCOUVER, BC, Feb. 21, 2023 /CNW/ - OceanaGold Corporation (TSX: OGC) (\"OceanaGold\" or the \"Company\") reported its financial and operational results for the three months and full year ended December 31, 2022. The consolidated financial statements and the Management Discussion and Analysis (\"MD&A\") are available at www.oceanagold.com. Gerard Bond, President and CEO of OceanaGold said, \"2022 was a successful year on multiple fronts for OceanaGold. We achieved record low safety outcomes, outperformed at Haile, returned Didipio to full production ahead of schedule, delivered on group guidance and generated strong free cash flow, which allowed us to reduce net debt by nearly $70 million. We also successfully progressed our organic growth projects, notably the completion of the permitting process for the Haile underground expansion and delivered some exciting exploration results.\" \"Looking ahead to 2023 and beyond, our focus is to deliver on our near-mine, lower risk, organic growth profile, notably the Haile expansion project. Our three-year outlook is for production growth to over 600,000 ounces of gold by 2025, with a projected improvement in margins and declining capital spending leading to a significant increase in projected free cash flow in that period. Additionally, we will continue to invest in the exciting exploration opportunities across the business, with a focus on near-mine high return targets at Didipio, Haile and Wharekirauponga.\" \"This strong operational and financial performance in 2022, strengthened balance sheet and the confidence we have in our outlook has resulted in the Board determining to reinstate the Company's dividend policy and pay a $0.01 per share semi-annual dividend payable in April 2023.\" Full-Year 2022 Highlights Achieved a record low full year recordable injury frequency rate of 2.3 per million hours worked. Achieved consolidated full year guidance with gold production of 472,201 ounces at All-In Sustaining Costs (\"AISC\") of $1,407 per ounce on gold sales of 469,045 ounces. Fourth quarter consolidated gold production of 120,918 ounces at AISC of $1,602 per ounce on gold sales of 118,667 ounces. Full year revenue of $967.4 million, EBITDA of $382.1...