LISTED mining firm OceanaGold (Philippines) Inc. (OGP) saw net income in the first six months of 2024 drop by around 17 percent to $25.7 million, from $42.5 million last year, due to lower gold and copper production at its Didipio mine.
LISTED mining firm OceanaGold Inc. saw net income in the first six months of 2024 drop by around 17 percent to $25.7 million, from $42.5 million last year, due to lower gold and copper production at its Didipio mine.In a disclosure, the company said it expected production to increase in the second half 'based on slope sequence and the addition of new underground equipment.
In May, OGP completed a secondary offering and public listing of 20 percent of its outstanding common shares on the Philippine Stock Exchange, raising net proceeds of $100.5 million.OGP will be allocating $15 million for an initial post-listing dividend and will pay $0.0066 per common share to shareholders on record as of August 14. Payment will be made in Philippine pesos on September 11, based on the prevailing exchange rate on that day.
PH 1St Half Net Drops 17% To $25.7M
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