OceanaGold produced about 139,000 ounces in Q2, up 7% sequentially, while free cash flow stayed strong. The miner also returned capital to shareholders.
OceanaGold Corp. produced about 139,000 ounces of gold in the second quarter, up 7% from the first quarter, Chief Executive Gerard Bond said Thursday.
"We had a really good second quarter," Bond said on the Aug. 6 earnings call. "We safely and responsibly delivered 7% more gold than we did in the first quarter. We continue to generate strong free cash flow. We made great progress with our organic growth projects."
The quarterly results cover the three months ended June 30, with all dollar amounts in U.S. dollars. OceanaGold, a gold producer with operations in North America and the Asia-Pacific, trades on the Toronto Stock Exchange under the ticker OGC.
Chief Financial Officer Marius van Niekerk and Chief Operating Officer Bhuvanesh Malhotra joined the call. Analysts from Scotiabank, Jefferies, National Bank Financial, and RBC Capital Markets participated in the question period.
The company's presentation is available through the webcast and on its website. OceanaGold noted that forward-looking statements on the call are covered by cautionary notes in its management discussion and analysis and annual information form.
"We returned meaningful amounts of capital to shareholders, and we still added cash to the balance sheet," Bond said.
Prepared with AlphaScala editorial tooling from the source reporting linked above. Indexable analysis may include a cited Alpha Score value. Publishing checks screen each story before release. Educational coverage, not personalized advice.