Trade the News: OGP expects 2024 production at lower range — Free Report!

NOTE: This is a Premium-exclusive stock report, originally for our Premium Access members, but we’re giving this to you free! To view other FREE stock reports, just click here. To get full access to all Premium-exclusive reports, simply upgrade to Premium Access today for as low as P399.00 a month!

OceanaGold Philippines (OGP) said it remains optimistic about achieving its 2024 production and revenue goals despite a slower-than-expected performance in the second quarter.

“We certainly expect Q3 and then Q4 to be stronger than Q2… Even with a slightly weaker second quarter, one of the real positives out of Didipio [is that] we were able to declare a dividend within the six-week period that we’ve been listed–a $15-million dividend in six weeks,” said OceanGold Corp. chief operating officer for Asia-Pacific Peter Sharpe.

Sharpe acknowledged the difficulties faced in the second quarter such as the unplanned downtime in the processing plant and a change in the underground mine sequence due to a geotechnical review impacted mine output in the second quarter.

OGP expects its gold and copper ore production for the year to be at the lower end of its annual guidance, hitting most likely the lower end of its output guidance of 120,000 ounces of gold and about 14,000 metric tons of copper.

(News excerpt from Manila Standard)

NOTE: This is a Premium-exclusive stock report, originally for our Premium Access members, but we’re giving this to you free! To view other FREE stock reports, just click here. To get full access to all Premium-exclusive reports, simply upgrade to Premium Access today for as low as P399.00 a month!

This report is prepared by PinoyInvestor’s partner broker below. Find out more about our partner brokers and sign up to avail their complete trading brokerage services.