Oceana Gold Corp.

Oceana Gold Corp. is a mid-tier gold producer headquartered in Vancouver, Canada, operating primarily in USA and Australia. The company's portfolio consists of 4 operating mines. Key assets include Haile and Waihi. The business model centers on being an intermediate producer with integrated open pit and underground mining operations. The operational approach utilizes conventional truck-and-excavator methods in open pits and longhole open stoping for underground extraction, supported by specialized skills in permitting, geology, and metallurgy. Processing capabilities are diverse, encompassing conventional flotation and cyanide leaching, carbon-in-leach and carbon-in-pulp circuits, pressure oxidation for refractory material, and semi-autogenous grinding–ball mill-pebble crusher circuits. This technological flexibility allows for the treatment of varied mineralization types. The enterprise competes for quality properties and skilled personnel, leveraging its technical expertise as a key differentiator. Business activities are subject to commodity price cycles, which influences operational planning and economic viability. The organization's structure supports both wholly-owned operations and majority-owned ventures, with a focus on optimizing asset performance through established technical and operational systems.

Strategic direction is centered on maximizing free cash flow and delivering sustainable shareholder returns. Capital allocation priorities are demonstrated through a formal dividend policy, which was doubled in early 2025 to a quarterly payment schedule, and a Normal Course Issuer Bid approved in 2024 for the repurchase of up to 5% of outstanding common shares. The enterprise focuses on organic growth by advancing development projects through established permitting pathways, including leveraging fast-track approval processes where available. Core strategic pillars include increasing resources and reserves cost-effectively, maintaining financial strength, and achieving a premium rating within the investment community. Financial management was enhanced through the 2023 refinancing of a revolving credit facility, which resulted in decreased interest margins and more favorable terms. The business strategy also emphasizes a commitment to a caring, inclusive, and high-performance culture as a foundation for operational delivery and value creation.

Executive leadership is headed by a President and Chief Executive Officer appointed in 2022, who previously served as Chief Financial Officer at Newcrest Mining and held senior executive roles at BHP. The board of directors is composed of 8 members, 3 of whom are female, representing 37.5% female representation. Governance is structured through 5 dedicated board committees: Audit and Risk; Governance and Nominations; Remuneration, People and Culture; Sustainability; and Technical. The Audit and Risk Committee consists of 4 independent, financially literate directors and operates under a formal charter to oversee financial reporting, risk management, and internal controls. The organization's leadership philosophy is guided by a formal Code of Conduct and a set of core values—Care, Respect, Integrity, Performance, and Teamwork—which are intended to inform decision-making across all levels. As of early 2025, the executive leadership team of 9 members includes 3 female executives, achieving 33.3% female representation.

The sustainability approach is governed by a Responsible Mining Framework and an integrated management system independently verified to meet ISO 14001:2015 (Environment) and ISO 45001:2018 (Health and Safety) standards. The organization's systems and processes are aligned with the World Gold Council’s Responsible Gold Mining Principles, with conformance subject to annual independent assurance. A dedicated Board Sustainability Committee provides oversight of strategy, performance, and compliance. Key initiatives include the 'OurSafe Behaviours' program, which promotes a workforce-led safety culture with the goal of achieving a workplace free of fatalities and life-altering injuries. The commitment to diversity and inclusion is supported by formal policies and has resulted in 37.5% female representation on the board of directors and 33.3% on the executive leadership team as of early 2025. Environmental management is guided by specific standards for water, mine closure, biodiversity, tailings management, and climate change. Stakeholder engagement is formalized through required engagement plans and grievance mechanisms at all operations.

In May 2024, the corporate structure was modified through the initial public offering of 20% of the common shares of its Philippine subsidiary, OceanaGold (Philippines), Inc. (OGPI), on the Philippine Stock Exchange. This transaction, which reduced the company's holding to 80%, was undertaken to comply with the terms of a renewed Financial or Technical Assistance Agreement. In June 2024, the company completed the divestiture of its interest in the Blackwater project through a sale to Tasman Mining Limited. A notable ownership arrangement involves a group of claimowners entitled to an 8% free carried interest in OGPI and a 2% net smelter return royalty on a specific area of interest, subject to the resolution of ongoing legal proceedings. The current corporate form is also a result of the 2015 acquisition of Romarco Minerals Inc. The company utilizes a Normal Course Issuer Bid, approved in July 2024, to repurchase and cancel its common shares, further influencing its capital structure.