OceanaGold Receives Regulatory Approval for IPO and Provides First Quarter 2024 Operating Results for Didipio
www.oceanagold.com
April 15, 2024 News Release
OceanaGold Receives Regulatory Approval for IPO and Provides First
Quarter 2024 Operating Results for Didipio
(VANCOUVER) OceanaGold Corporation (TSX:OGC, OTCQX:OCANF) (“OceanaGold” or the “Company”)
is pleased to announce that its wholly owned subsidiary, OceanaGold Philippines, Inc. (“OGPI”), has
received preliminary regulatory approvals from the Philippine Securities and Exchange Commission
(“SEC”) and the Philippine Stock Exchange, Inc. (“PSE”) in relation to the initial public offering of 20% of
the outstanding common shares of OGPI (the “Offering”). Completion of the Offering remains subject to
fulfillment of certain conditions including receipt of the final permit to sell. OGPI holds the Company’s
interest in the Didipio Mine and pursuant to the terms of the renewed Financial or Technical Assistance
Agreement (“FTAA”) is required to list its common shares on the PSE. The Offering is expected to be
completed in May 2024.
The Offering is a secondary offering of OGPI’s common shares, with the proceeds from the offering, net of
taxes and listing expenses, to be applied by OceanaGold towards the repayment of the Company’s debt.
The Company had drawn bank debt of $135M at December 31, 2023.
OceanaGold is also providing preliminary First Quarter 2024 operating results for the Didipio mine for
inclusion in the prospectus for the Offering. For the quarter ending March 31, 2024, the Didipio mine
produced 26,312 ounces of gold and 3,015 tonnes of copper, which is in-line with its full-year plan and 2024
guidance. Gold sales for the quarter totalled 31,863 ounces of gold and 3,180 tonnes of copper.
Didipio remains on track to deliver its 2024 guidance, with the mine expected to produce between 120,000
and 135,000 ounces of gold and 12,000 to 14,000 tonnes of copper at an All in Sustaining Cost of between
$750 and $850 per ounce.
About OceanaGold
OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly
maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our
shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in the United States of
America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.
www.oceanagold.com
For further information please contact:
Investor Relations:
Rebecca Harris, Director, Investor Relations
Tel: +1 604-678-4095
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved
by P. Sharpe, a qualified person under NI 43-101, who is the Company’s Executive Vice President, Chief
Operating Officer, Asia-Pacific.
Cautionary Statement Regarding Forward-Looking Information
Certain information contained in this news release may be deemed “forward-looking” within the meaning of
applicable securities laws. All statements other than statements of historical facts included in this news
release constitute forward-looking statements, including but not limited to, the terms and details of the
Offering, completion of the Offering, information relating to future performance and reflect the Company’s
expectations regarding the generation of free cash flow, execution of business strategy, future growth,
future production, estimated costs, results of oper ations, business prospects and opportunities of the
Company and its related subsidiaries. Any statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is
expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain
actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not
statements of historical fact and are forward-looki ng statements. Forward-looking statements are subject
to a variety of risks and uncertainties which could cause actual events or results to differ materially from
those expressed in the forward-looking statements and information. They include, among others, the
accuracy of Mineral Reserve and Mineral Resource estimates and related assumptions, inherent operating
risks and those risk factors identified in the Company’s most recent Annual Information Form prepared and
filed with securities regulators which is available on SEDAR+ at www.sedarplus.com under the Company’s
name. There are no assurances the Company can fulfil forward-looking statements and information. Such
forward-looking statements and information are only predictions based on current information available to
management as at the date that such predictions are made; actual events or results may differ materially
as a result of risks facing the Company, some of which are beyond the Company's control. Although the
Company believes that any forward-looking statements and information contained in this news release are
based on reasonable assumptions, readers cannot be assured that actual outcomes or results will be
consistent with such statements. Accordingly, readers should not place undue reliance on forward-looking
www.oceanagold.com
statements and information. The Company expressly disclaims any intention or obligation to update or
revise any forward-looking statements and information, whether as a result of new information, events or
otherwise, except as required by applicable securities laws.
THIS DOCUMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES OR
ELSEWHERE. THE SECURITIES OF OGPI ARE NOT BEING REGISTERED UNDER THE U.S.
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND MAY NOT BE OFFERED
OR SOLD IN THE UNITED STATES UNLESS REGISTERED UNDER THE SECURITIES ACT OR
PURSUANT TO AN EXEMPTION FROM SUCH REGISTRATION. THERE WILL BE NO PUBLIC
OFFERING OF THE SECURITIES OF OGPI IN THE UNITED STATES. NO MONEY, SECURITIES OR
OTHER CONSIDERATION IS BEING SOLICITED BY THIS NEWS RELEASE OR THE INFORMATION
CONTAINED HEREIN AND, IF SENT IN RESPONSE TO THIS DOCUMENT OR THE INFORMATION
CONTAINED HEREIN, WILL NOT BE ACCEPTED.
A REGISTRATION STATEMENT RELATING TO OGPI’S SHARES HAS BEEN FILED WITH THE
PHILIPPINE SECURITIES AND EXCHANGE COMMISSION, BUT HAS NOT YET BECOME EFFECTIVE.
THESE SHARES MAY NOT BE SOLD NOR OFFERS TO BUY THEM BE ACCEPTED PRIOR TO THE
TIME THE REGISTRATION STATEMENT IS RENDERED EFFECTIVE. THIS COMMUNICATION SHALL
NOT CONSTITUTE AN OFFER TO SELL OR BE CONSIDERED A SOLICITATION TO BUY.
THIS PRESS RELEASE IS NOT FOR PUBLICATION OR DISTRIBUTION IN THE UNITED
STATES, JAPAN OR AUSTRALIA