OceanaGold Q4 Earnings Call Highlights

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The claims Via News extracted from this document. We point to the source; we don't replace it.

• Moving Ledbetter from open pit to underground would require a minor permit modification

  80% confidence

• Q4 AISC at Macraes was under $1,300 per ounce, down materially from Q3

  80% confidence

• Using the midpoint of guidance, the company expects to produce 12% more gold than in 2025 at a 7% lower AISC

  80% confidence

• The company could consider increasing the buyback if operating performance and gold prices allow, similar to 2025

  80% confidence

• Didipio AISC is expected to improve slightly, largely due to higher copper by-product credits

  80% confidence

• Waihi exceeded production guidance and met AISC guidance for 2025

  80% confidence

• Haile's unit costs are expected to decline 25% year-over-year

  80% confidence

• Horseshoe Underground decline advance is a full year ahead of mine sequence

  80% confidence

• All four sites increased production in Q4 and each met its production guidance for the year

  80% confidence

• Record free cash flow of $259 million exceeded the company's total free cash flow generated in all of 2024

  80% confidence

• The company ended the period in its strongest net cash position to date, with zero debt and cash of $477 million, up 42% from the prior quarter

  80% confidence

• Results were achieved at an average realized gold price of around $3,500 an ounce, which was below current spot levels at the time of the call

  80% confidence

• An updated technical report for Didipio is expected in the first half of the year to detail remaining work to reach sustained mining rates and to provide an updated life-of-mine plan

  80% confidence

• OceanaGold set annual records for EBITDA, EBITDA margins, net profit, earnings per share, operating cash flow, and free cash flow

  80% confidence

• Adjusted EPS included roughly a $0.26 per share impact from share-based compensation in Q4

  80% confidence

• Q4 represented the strongest production quarter of the year, with increased production from all four operating sites

  80% confidence

• Haile produced 56,000 ounces in Q4, its planned highest quarter of 2025

  80% confidence

• Final permits for Waihi North were received in Q4, and the company expects to start the underground decline toward Wharekirauponga by mid-2026

  80% confidence

• The growth in 2026 production is driven primarily by Haile, where guidance reflects a 35% increase in output

  80% confidence

• The first half of 2026 will focus on resource-to-reserve conversion at Wharekirauponga, with a plan for more than 30 drill holes targeting 300,000 ounces of reserves

  80% confidence

• Total growth and exploration capital is planned to rise to $340 million in 2026, about 2.5 times 2025 levels

  80% confidence

• 2026 guidance implies higher production and lower AISC, alongside increased spending on value-accretive capital projects

  80% confidence

• Full-year AISC at Didipio came in around the top end of the guided range

  80% confidence

• Q4 was the strongest quarter of the year at Waihi at just under 22,000 ounces

  80% confidence

• An illustrative slide assumes a $4,700 gold price and implies about a 40% payout ratio using guidance midpoints and a reasonable gold price assumption

  80% confidence

• In the second half, the team will follow up what appears to be a new higher-grade zone to the south with eight drill holes targeting growth of 150,000 ounces of inferred resources

  80% confidence

• Initial results are expected mid-year, with a technical report update later in 2027

  80% confidence

• OceanaGold has its highest ever exploration budget in 2026, with increased spending at all four sites and a renewed greenfields focus

  80% confidence

• OceanaGold expects to complete its listing on the New York Stock Exchange in April

  80% confidence

• OceanaGold safely delivered 2025 guidance for production, all-in sustaining costs (AISC), and capital

  80% confidence