OceanaGold (OGC) Reports High-Grade Haile Gold Drill Results

Jeff Lewis

Tue, May 19, 2026 at 3:53 PM EDT 2 min read

OceanaGold Corporation (NYSE:OGC) is one of the

8 Best Debt Free Gold Stocks to Buy.

On May 12, 2026, OceanaGold Corporation (NYSE:OGC) announced additional high-grade drilling results from its ongoing exploration and resource conversion program at the Haile Gold Mine in the United States. President and CEO Gerard Bond said the latest drilling results continue to demonstrate Haile’s potential for reserve growth and resource expansion. Bond noted that mineralization at Horseshoe remains open in multiple directions, while Ledbetter drilling continues to improve confidence in down-plunge resource conversion. The company also said the new intercept at Clydesdale supports its emergence as a potentially significant new target area.

Pixabay/Public Domain

On May 6, 2026, OceanaGold Corporation (NYSE:OGC) reported operational and financial results for the first quarter of 2026. The company produced 130,100 ounces of gold and 3,200 tonnes of copper during the quarter, broadly in line with plans, with all-in sustaining costs of $2,094 per ounce. OceanaGold generated record quarterly revenue of $715M at an average realized gold price of $4,894 per ounce. EBITDA margin reached 58%, while net profit totaled $228M and EPS came in at $1.01. Operating cash flow reached a record $382M, generating free cash flow of $255M during the quarter. The company ended Q1 with a cash balance of $620M, up 30% sequentially, while maintaining no debt and leaving its revolving credit facility undrawn. During the quarter, OceanaGold also repurchased $77M worth of shares under its previously announced $350M buyback program for 2026. CEO Gerard Bond said the company entered 2026 with strong operational momentum, supported by record operating cash flow, continued capital returns to shareholders, and encouraging exploration results at Wharekirauponga.

OceanaGold Corporation (NYSE:OGC) explores, develops, and operates gold and gold-copper mining assets in the United States, the Philippines, and New Zealand.

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