OceanaGold Corporation

OceanaGold reported new drilling results from its Wharekirauponga project in New Zealand in late September 2026, highlighting multiple wide, high-grade gold intercepts that reinforce the continuity of the southern high-grade EG Vein and associated hanging-wall structures. Drilling has accelerated with five active rigs, and promising intercepts outside the current resource model point to a potentially larger, better-defined mineralized system that could influence future resource classification and project planning. The company's narrative projects $2.2 billion in revenue and $764.2 million in earnings by 2028, requiring 12.7% yearly revenue growth and a $388.4 million earnings increase from $375.8 million today. The update comes as OceanaGold plans the April 2027 retirement of CEO Gerard Bond, who is set to stay on as a Special Advisor for six months. Before this Wharekirauponga update, the most pessimistic analysts were still penciling in about US$2.6 billion of revenue and US$1.4 billion of earnings by 2029.

OceanaGold has signed a definitive scheme implementation deed to acquire all issued shares of Ausgold for a transaction equity value of around A$776m, or $549m. Ausgold shareholders will be offered 0.03365 OceanaGold shares for each Ausgold share held, equating to A$1.36 per share based on OceanaGold's closing price on 14 August 2026, with a cash alternative capped at A$194m. The Ausgold Board has unanimously recommended the scheme, and Dundee, a major shareholder with 7.7% of Ausgold shares, has signalled support. The acquisition adds the Katanning Gold Project in Western Australia, forecast to yield more than 100,000oz of gold annually with first production in 2029, and is expected to close by December 2026 pending shareholder and regulatory approvals.

OceanaGold Corp. reported second-quarter net income of $222.2 million, or $0.99 per share, up from $114.1 million, or $0.49 per share, in the same period last year. Adjusted earnings, which exclude certain items, came to $221.2 million, or $0.98 per share. Revenue rose 49.7% to $647.3 million from $432.4 million a year earlier.

OceanaGold Corp. has received Toronto Stock Exchange approval to renew its share buyback program. Under the Normal Course Issuer Bid, the company may repurchase up to 22 million common shares, representing about 10% of its public float, between July 24, 2026 and July 23, 2027. OceanaGold had 222,447,523 common shares issued and outstanding as of July 21, and may buy back up to 209,812 shares per day. The board approved up to $350 million in repurchases for 2026, with $134 million completed year to date, following $270 million repurchased over the prior 12 months. Since July 2024, the company has returned more than $325 million to shareholders, and has entered an automatic share purchase plan to allow repurchases during blackout periods, with all bought-back shares to be cancelled.