(All financial figures in US Dollars unless otherwise stated)

VANCOUVER, BC, Aug. 1, 2023 /CNW/ - OceanaGold Corporation (TSX: OGC) ("OceanaGold" or the "Company") reported its operational and financial results for the three months ended June 30, 2023. The consolidated financial statements and the Management Discussion and Analysis ("MD&A") are available at www.oceanagold.com.

Gerard Bond, President and CEO of OceanaGold, said "OceanaGold safely and responsibly delivered strong production outcomes at lower costs during the second quarter, generating strong Free Cash Flow. Both New Zealand sites bounced back strongly, Didipio continued its steady performance, and we remain on schedule for first ore delivery from the Haile underground in the fourth quarter this year.

As we look ahead to the remainder of 2023, we are on track to deliver on our consolidated full-year production, cost and capital guidance and have a strong balance sheet enabling us to continue investing in the exciting organic growth and near-mine exploration projects we have throughout our portfolio, as well as pay a dividend in-line with our policy."

Second Quarter Highlights

On track to meet full-year 2023 consolidated production, cost and capital guidance.
12MMA total recordable injury frequency rate of 3.5 per million hours worked.
Consolidated production of 130,055 ounces of gold and 3,400 tonnes of copper.
All-In Sustaining Costs ("AISC") of $1,318 per ounce on gold sales of 139,071 ounces.
Free Cash Flow of $72.3 million.
Revenue of $301 million, EBITDA of $153 million and NPAT of $69 million.
Adjusted earnings of $0.10 per share and operating cash flow of $0.21 per share.
Record first half revenue of $545 million and EBITDA of $253 million.
First Half 2023 NPAT of $108 million.
Net debt of $136 million as at June 30, 2023 at a leverage ratio of 0.34 times.
Haile underground on track, with first ore to the mill expected in the fourth quarter of 2023.
Obtained regulatory approval for a third drill rig at Wharekirauponga, drilling began in July.
Semi-annual dividend of $0.01 approved by the Board, to be paid October 6, 2023.
Table 1 – Production and Cost Results Summary

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https://newsreleases.oceanagold.com/2023-08-01-OceanaGold-Reports-Second-Quarter-2023-Operating-and-Financial-Results