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OceanaGold Reports Third Quarter 2022 Financial Results; Production of 104,953 Ounces of Gold and 3,581 Tonnes of Copper
(All financial figures in US Dollars unless otherwise stated) VANCOUVER, BC, Oct. 26, 2022 /CNW/ - OceanaGold Corporation (TSX: OGC) ("OceanaGold" or the "Compa
About this update from Oceanagold Corporation
[{"type":"text","content":" (All financial figures in US Dollars unless otherwise stated) VANCOUVER, BC, Oct. 26, 2022 /CNW/ - OceanaGold Corporation (TSX: OGC) (\"OceanaGold\" or the \"Company\") reported its financial and operational results for the three months ended September 30, 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 \"We safely and responsibly delivered to plan in the third quarter. Haile continued its strong operational performance, Didipio delivered another steady quarter at full mining rates, and Waihi delivered the expected operational and financial improvement as mining progressed into higher confidence areas. Unfortunately Macraes experienced record rainfall in July which impeded its access to ore and gold production. We continue to expect stronger gold production in the fourth quarter and remain on track to achieve our full year guidance.\" \"With the Haile SEIS and the Section 401 Water Certification Notice having been published, the SEIS Final Record of Decision and all associated permits are now expected to be received in the fourth quarter. An approved early works program has enabled us to commence initial development of the Haile underground. To date we have developed approximately 50 metres of the production portal and decline and work on the two ventilation portals is progressing well. We remain on track to get first underground ore from Haile in the fourth quarter of 2023, which underpins our significant near term gold production growth.\" Highlights Total recordable injury frequency rate of 2.3 at September 30, 2022, a 15% improvement over the previous quarter. Third quarter production of 104,953 ounces of gold and 3,581 tonnes of copper. Third quarter All-in Sustaining Costs (\"AISC\") of $1,554 per ounce on gold sales of 111,390 ounces. Third quarter revenue of $214 million and EBITDA of $40 million. Adjusted earnings of $0.01 per share and operating cash flow of $0.08 per share for the third quarter. Third quarter free cash flow as expected at -$17.1 million. Year-to-date free cash flow of $55.0 million. Net debt of $174 million as at September 30, 2022, at a leverage ratio of 0.48 times. Haile Supplemental Environmental Impact ...