OceanaGold PH Reports US$7 Million Net Income in Q1 2025, Declares US$17 Million Dividend

OceanaGold (Philippines), Inc. reported its operational and financial results for the three months ended March 31, 2025. 

First Quarter Highlights

• On track for full year production and cost guidance   
• Declared dividend of US$0.0075 per share (equivalent to P0.4227 per share assuming an 
exchange rate of P56.69 per US$1) for the first quarter  
• Produced 20,600 ounces of gold and 3,400 tonnes of copper 
• Revenue of  ̴ US$79M, Net Income of  ̴ US$7M, and Earnings per share of US$0.003 
• Underground mining rates expected to increase in the second half of 2025 and beyond

Atty. Joan Adaci-Cattiling, President of OceanaGold Philippines said, "During the first quarter, we safely produced gold and copper in line with our guidance. I am pleased to declare another strong dividend payment to start the year, having now returned ~US$86 million to our shareholders via dividends in a 1 year period since the May 2024 IPO.

We expect to increase our mining rates in the coming quarters and remain focused on safely and responsibly delivering on our guidance for the year, capitalizing on record high metal prices and continuing to generate strong returns for our shareholders.” 

Dividend

The Company is pleased to announce the first quarter dividend of US$17.0M (or US$0.0075 per common share). Holders of the publicly traded shares at the close of business on May 22, 2025, Manila Time (the “Record Date”) will be entitled to receive payment of the dividend on June 18, 2025, Manila Time. Such payment shall be paid in Philippine pesos based on the prevailing exchange rate on the day the payment is processed.

OCEANAGOLD (PHILIPPINES), INC., a corporation organized and existing under Philippine law, operates the Didipio gold-copper mine in Luzon under a Financial or Technical Assistance Agreement. The Company is committed to safely and responsibly maximizing the generation of Free Cash Flow from its operation and delivering strong returns for its shareholders.