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OceanaGold's Third Quarter 2026 Results

OceanaGold Corporation has released its operational and financial results for the third quarter of 2026, showcasing remarkable performance that aligns with their production forecast. As indicated in their report, the company produced 133,400 ounces of gold and 3,400 tonnes of copper, indicating significant growth and success in achieving operational targets. With all-in sustaining costs (AISC) falling to $1,874 per ounce, representing a 13% decrease from the previous quarter, OceanaGold is on track for a productive fourth quarter.

The company demonstrated robust financial health with a revenue of $655 million, resulting in a net profit of $198 million, and an earnings per share (EPS) of $0.88. Adjusted EPS stood at $0.94, underscoring the company's strong operating performance. Furthermore, they recorded a significant operating cash flow of $325 million and robust free cash flow of $155 million for the quarter, marking $541 million year-to-date.

OceanaGold's balance sheet is particularly healthy, with a cash reserve of $729 million and no outstanding debt, enabling substantial capital returns to shareholders. The company returned $79 million in the quarter through dividends and share buybacks, creating significant value for its investors. As CEO Gerard Bond highlighted, this quarter was another milestone of safe and responsible production, with costs on target and a focus on sustainable growth prospects.

Key Highlights from Q3 2026

• - Gold Production: 133,400 ounces produced, aligning with guidance for the year.
• - Revenue Growth: Generated $655 million in revenue.
• - Profitability: Net profit reached $198 million with an EPS of $0.88.
• - AISC Reduction: Consolidated AISC decreased to $1,874 per ounce, lowering operational costs.
• - Strong Cash Flow: Achieved free cash flow of $155 million this quarter.
• - Shareholder Returns: $79 million returned to shareholders through share buybacks and dividends.

Outlook for the Future

OceanaGold's expectations for the fourth quarter are high, anticipating it will be the strongest of the year. This forecast is primarily driven by expected increased gold production at their Haile operation, which produced 27,400 ounces in October 2026 alone. The company has also implemented successful strategies to ensure a steady transition to accessing higher-grade ore while responsibly managing costs.

Additionally, OceanaGold announced its plans to further invest in growth projects, including the acquisition of Ausgold Limited, which owns the Katanning Gold Project in Western Australia. This acquisition is expected to close in December 2026, enhancing their portfolio of mining operations.

Beyond immediate production goals, OceanaGold is advancing long-term projects such as the Waihi North and Palomino Underground projects, which are progressing as planned. They have also lodged an application to permit the Macraes Phase 4 project to extend their mine life into the late 2030s.

In summary, OceanaGold's third-quarter results reflect strong operational and financial foundations, providing a solid basis for future growth. The strategic transitions and substantial cash flows signify the company's commitment to creating shareholder value while pursuing responsible mining practices.