OceanaGold (Philippines) Inc. reported a net income of $34.7 million in the first quarter of 2026, driven by strong gold prices and steady production from its Didipio gold-copper mine in Nueva Vizcaya.
In a disclosure to the Philippine Stock Exchange, the company said revenue for the January-to-March period reached $158.4 million, nearly double the $79.3 million recorded in the same period last year. Earnings per share rose to $0.015 from $0.003 a year earlier.
The company produced 20,400 ounces of gold and 3,200 tonnes of copper during the quarter, broadly in line with its production guidance. All-in sustaining costs were reported at $1,298 per ounce of gold sold.
OceanaGold Philippines also generated free cash flow of $80.1 million during the quarter, sharply higher than the $8 million recorded in the first quarter of 2025.
The company declared a first-quarter dividend of $44.7 million, equivalent to $0.0196 per common share. Shareholders on record as of May 21, 2026, will receive the dividend payment on June 17, 2026. The dividend will be paid in Philippine pesos based on the prevailing exchange rate at the time of payment.
OceanaGold Philippines President Joan Adaci-Cattiling said the company benefited from strong metal prices and stable operations during the quarter.
“During the first quarter, we safely and responsibly produced gold and copper in line with our guidance,” Adaci-Cattiling said. “With today’s strong gold prices and solid production results we generated $80M of Free Cash Flow during the quarter and announced another healthy quarterly dividend for our shareholders.”
She added that exploration drilling had resumed in the lower levels of the Didipio mine, while near-mine drilling activities continued at the True Blue target area.
OceanaGold Philippines operates the Didipio gold-copper mine in Luzon under a Financial or Technical Assistance Agreement. The company said it remains focused on maximizing free cash flow generation and delivering returns to shareholders.
