04:14 PM EDT, 10/28/2021 (MT Newswires) -- OceanaGold (OGC.TO) on Thursday said it returned to a profit in the third-quarter on higher gold sales and lower costs.
The company said it made US$44.9 million, or C$0.06 per share, in the period, compared with a loss of US$96.8 million, or US$0.16, in the third quarter of 2020, which included more than US$70 million in net charges.
OceanaGold's revenue more than doubled to US$204.6 million from US$97.9 million, as its gold sales rose 60% to 79,200 ounces while its average gold price climbed 12% to US$1,797 per ounce.
The company's all-in sustaining costs fell 29% to US$1,200 per ounce. It reiterated 2021 production guidance of around 360,000 ounces, with all-in sustaining costs of between US$1,200 and US$1,250 per ounce.
This is the blurb most have time or patience to read: and it reads ok.