OceanaGold Enhances Mineral Reserves and Resources for 2024

Author: Dylan Bailey Updated: 02-19-2025 05:15 PM

OceanaGold Reports Strong Growth in Mineral Reserves and Resources

OceanaGold Corporation (TSX: OGC) (OTCQX: OCANF) is excited to share the latest updates regarding its Mineral Reserves and Mineral Resources for the finished year. This report highlights significant advances in their mineral asset portfolio the company boasts.

Key Highlights of the Mineral Reserve Updates

The latest report illustrates a remarkable 27% increase in Mineral Reserves to 6.2 million ounces of Au, achieved through stringent operational efficiencies and optimized mining techniques. Noteworthy events include:

Total Mineral Reserves grew 27% to 6.2 Moz Au net of depletion.
Measured and Indicated Mineral Resources rose by 8% to 8.9 Moz Au net of depletion.
Discovered initial Mineral Reserves of 4.1 million tonnes at a grade of 9.2 g/t, amounting to 1.21 Moz Au at Wharekirauponga.

Update from the CEO

President and CEO Gerard Bond expressed his enthusiasm: "The increase in our total Mineral Reserves to 6.2 million ounces, with a notable grade enhancement, showcases our efficient operational strategies. The incorporation of added reserves from our Wharekirauponga site, alongside increases at Didipio and Macraes, emphasizes our commitment to sustainable mining and resource management. Our planned investment of $40 million in exploration opens doors to further opportunities for value creation in the upcoming year."

Details on Mineral Reserves

The updated estimates for Proven and Probable Mineral Reserves speak volumes of the company's relentless oversight and strategic mining operations. The figures detailed below present these reserves effectively:

Table 1: Proven and Probable Reserves Summary

Tip of the iceberg: 47.7 million tonnes at an average grade of 0.92 g/t for Au.
Examining Didipio, they reflected promising volumes of ore positioned for mining.

Mineral Resource Overview

OceanaGold detailed that the Measured, Indicated and Inferred Mineral Resource estimates (including Mineral Reserves) present a strengthened financial outlook as of the reporting date. Results indicate a robust operational framework aimed at enhancing the profitability of each site:

Table 2: Mineral Resource Estimates

Twisted paths: Total ounces reported reached 51 Moz with the majority attributable to Measured classifications.
Sustaining growth: Even amid fluctuations in metal markets, the company proves its resilience.

Prepared for Further Exploration

As the company looks ahead, it is buoyed by plans for extensive exploration activities throughout the operational landscape. With successful engineering and geological studies backing these developments, OceanaGold is poised to capitalize on lucrative opportunities as they arise.

Frequently Asked Questions

What is the current state of OceanaGold's mineral reserves?

OceanaGold has reported a 27% increase in its mineral reserves, totaling 6.2 million ounces of gold.

How much has OceanaGold invested in exploration?

The company plans to invest $40 million in exploration efforts across its four operational sites.

What are the mining companies' future outlooks?

The management is optimistic about the growth potential, with strategies aligned to create further value.

Which regions does OceanaGold operate in?

The company operates primarily in the United States, the Philippines, and New Zealand.

What is the importance of the mineral reserve updates?

These updates enhance OceanaGold's growth strategy and provide insights into the efficiency of its mining operations.

About The Author

My name is Dylan Bailey, and I am 28 years old. I am an author and an expert on the stock market who specializes in publicly traded companies. Early fascination with the stock market inspired me to seek a finance degree and then delve deeply into the world of stocks. I have developed over the years my abilities to spot investment prospects, assess business performance, and analyze market trends.

My books and articles try to help regular investors understand the nuances of the stock market. Anyone can, in my opinion, make wise investment choices and succeed financially if they have the correct information and resources. In my writing, I combine in-depth research with practical insights and advice that can be put into action. This is done with the intention of assisting readers in navigating the constantly shifting landscape of publicly traded companies.

In addition to writing, I also host webinars and workshops, where I give presentations and share my knowledge with a wider audience. I also write for top financial journals and show up as a guest analyst on financial news shows. I like to travel, spend time with my family, and keep active by playing different sports when I'm not buried in market research.

My goal is to enable people to choose wisely and consciously in their investments, so taking charge of their financial futures. By my work, I hope to create a community of informed and self-assured investors prepared to take advantage of the chances presented by the stock market.

Contact Dylan Bailey privately here. Or send an email with ATTN: Dylan Bailey as the subject to contact@investorshangout.com.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.