OceanaGold Hits 97.2 g/t Gold Over 6.3m at Wharekirauponga, Eyes Plant Expansion
OGC sits 43% above its 52-week low of $19.55.
Summary
OceanaGold reported exceptional drill results from Wharekirauponga, including 6.3m @ 97.2 g/t Au, confirming high-grade continuity and up-dip extension of the southern zone outside current reserves. The company also advanced the Waihi North Project with decline development at 350m and ventilation shaft construction underway. Management is evaluating a processing plant expansion to 1.2 Mtpa, up from 0.8 Mtpa, to support concurrent mining at Martha and Wharekirauponga. An updated NI 43-101 technical report is planned for January 2027, expected to show increased reserves. These results strengthen the growth pipeline and support the investment thesis for the Waihi District.
At the time of this announcement, OGC was trading at $27.90 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $6.2B. The 52-week trading range was $19.55 to $43.33. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.