OceanaGold Corporation (TSX: OGC) today disclosed the company’s preliminary production and operational costs for the second quarter. The company reported consolidated gold production of 93,848 ounces.
Gold production in the second quarter came at an AISC of $1,226 per ounce, with the company selling a total of 95,934 ounces of gold over the quarter. Further to this, Oceana has bested their previous record for quarterly gold production at Haile by producing 57,240 ounces in the second quarter, with 101,581 ounces produced YTD.
The first half of the year reflected the consolidated production of 177,039 ounces of gold, at an AISC of $1,227 per ounce. A total of 178,781 ounces of gold were sold in the first half of the year. Oceana expects to reach a full underground mining rate of 1.6 million tonnes per year within twelve months, where it’s then expected that they will produce roughly 10,000 ounces of gold and 1,000 tonnes of copper monthly.
They also affirmed the re-commencement of sustained milling operations at Waihi with production from Martha Underground, as well as the renewal of the Didipio’s Financial or Technical Assistance Agreement by the Philippine National Government.
Finally, OceanaGold reported that it has $92.3 million in cash and $50.0 million in available credit facilities, resulting in its liquidity totaling an aggregate $142.3 million.
The Company will release their completed Q2 and first half 2021 financial and operational results at the end of business, July 29, 2021.
OceanaGold Corporation last traded on the TSX at $2.44.
Information for this briefing was found via Sedar and OceanaGold. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.