OceanaGold (Philippines), Inc. reported their full-year 2025 gold production of 90,700 ounces and copper output of 13,300 tonnes, meeting its production guidance for the year.
The company generated USD 438.8 million in revenue in 2025, supported by higher gold prices. Net income reached USD 76.5 million, while free cash flow hit a record USD 130.2 million. OceanaGold ended the year with an USD 84 million net cash position and no outstanding debt.
In the fourth quarter alone, gold production totaled 23,800 ounces, up from the previous quarter, while free cash flow reached USD 43.5 million.
The board declared a fourth-quarter dividend of USD 38 million, equivalent to USD 0.0167 per share or approximately PHP 0.983 per share. Total dividends declared for 2025 reached USD 112 million, bringing cumulative dividends since its May 2024 listing to USD 181 million.
All-in sustaining cost (AISC) averaged USD 1,255 per ounce for the full year, 10% higher than 2024 due to lower gold sales volumes and increased sustaining capital. In the fourth quarter, AISC stood at USD 1,422 per ounce.
As of December 31, 2025, mineral reserves at the Didipio mine stood at 1.13 million ounces of gold and 0.13 million tonnes of copper, reflecting depletion from ongoing mining.
For 2026, the company expects gold production of 85,000 to 105,000 ounces and copper output of 13,000 to 15,000 tonnes. All-in sustaining costs are projected between USD 975 and USD 1,100 per ounce, with total capital expenditures estimated at USD 65 million.
With strong cash generation and continued dividend payouts, can OceanaGold sustain this momentum as it heads into 2026?
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