OceanaGold Philippines earnings drop in Q2 as production declines

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Oceanagold Mining Notícia

Gold,Mining

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Listed miner OceanaGold Inc. saw a decline in its earnings during the second quarter of the year as it produced lower gold and copper during the period, but is optimistic to boost gold production moving forward.In a regulatory filing, OGPI said its net income slipped to $14.2 million in the second quarter, down from $20.3 million in the same period of 2023, equivalent to $0.01 per share from $0.04 per share last year. Revenues fell to $68.8 million from $88.3 million.

“We are also continuing to invest in exploration, both near-mine and regionally, and look forward to sharing results in the future,” she added.The latest figures brought the year-to-date net income to $25.7 million, down from $42.6 million last year. Revenues fell to $160.9 million from $180.8 million.OGPI listed on the Philippine Stock Exchange in the second quarter, raising P6.08 million from the sale of 456 million secondary shares.

 

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