OceanaGold Philippines Reports H1 2025 Net Income of US$22 Million

In a disclosure to the Philippine Stock Exchange (PSE), OceanaGold Philippines (OGP) said its net income for H1 2025 stood at $22 million, down from $25.7 million in 2024.

Second Quarter Highlights
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• Produced 24,500 ounces of gold and 3,700 tonnes of copper
• Delivered strong margins with an All in Sustaining Cost (AISC) of $1,287 per ounce, $1,214 year to date
• Generated Revenue of $96M, Net Income of $15M, and Earnings per share of $0.01
• Gold sold at a record average realized price of $3,295 per ounce
• Declared dividend of $0.0110 per share (equivalent to P0.624 per share assuming an exchange rate of P56.748 per $ (Dividend to holders of publicly traded shares will be paid in Philippines Peso based on the PHP: USD exchange rate on the day the payment is processed.)) for the second quarter
• Expected to deliver on 2025 production, cost and capital guidance

Atty. Joan Adaci-Cattiling, President of OceanaGold Philippines said, "We had a strong second quarter as we continue to deliver on our strategy to safely and responsibly produce gold and copper at a low cost while capitalizing on today’s record high gold prices and generating strong Free Cash Flow. We are pleased to continue returning capital to our shareholders with the declaration of a second quarter dividend of $25 million, having returned a total capital of US$111M in dividends to our shareholders since our May 2024 IPO.

For the second half of the year, our priority is to deliver on our guidance while investing in the growth potential of our business and continuing to generate strong Free Cash Flow and returns for our shareholders.” 

For the quarter ended June 30, 2025, the Company produced 24,500 ounces of gold and 3,700 tonnes of copper. Second quarter gold production was 19% higher than the prior quarter due to increased underground ore tonnes mined at higher grades. The 19% increase in underground ore tonnes mined was driven by continued progress in accessing lower levels of the mine which is expected to continue throughout the year.

The Company remains on track to meet its 2025 production guidance of 85,000 to 105,000 ounces of gold and 13,000 to 15,000 tonnes of copper.

Supporting the country’s international reserves, the Company sold 34% of second quarter’s total gold doré production to the Bangko Sentral ng Pilipinas.

Dividend

The Company is pleased to announce a second quarter dividend of $25 million or $0.0110 per common share). Holders of the publicly traded shares at the close of business on August 22, 2025, Manila Time (the “Record Date”) will be entitled to receive payment of the dividend on September 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.