OceanaGold

OceanaGold has lodged an application for the “Macraes Phase 4” project under the Fast-track Approvals Act 2024 to extend the life of the Macraes mine from its current reserves-based horizon to the late 2030s. The application covers completion of the mining plan, development of the Southern Pit Innes Mills (SPIM) open pit, expansion of the Golden Point underground mine and the option to include additional resources. The company expects full approval by mid-2027, subject to appeals, further permits and positive technical and economic reviews. The goal is to keep Macraes producing more than 100,000 ounces a year into the late 2030s; an updated technical report is due in early 2028. » More on de.investing.com

OceanaGold has announced an agreement to acquire all Ausgold shares via a scheme of arrangement; the deal has an equity value of about 776m AUD. Ausgold shareholders will receive 0.03365 OceanaGold ordinary shares per Ausgold share (worth 1.36 AUD) or, alternatively, a cash consideration capped at a total of 194m AUD; the offer represents a 28% premium to the last closing price. The takeover secures the Katanning gold project in Western Australia for OceanaGold, with planned production starting in 2029; completion, subject to shareholder and regulatory approvals, is expected in December 2026. » More on de.investing.com

OceanaGold reported Q2 earnings per share of $0.99 and revenue of $647 million; the adjusted EBITDA margin reached a record 61%. Free-cash-flow yield for the last twelve months was 12% and InvestingPro rates the company as significantly undervalued (P/E 7.98). Management says it is on track for the full-year guidance but expects costs at the upper end of the range. Despite the strong figures, the stock fell about 2.2% in trading. » More on de.investing.com