No 1 source of global mining news and opinion
OceanaGold said on Monday that it has obtained preliminary regulatory approval for an initial public offering of its Philippines-based subsidiary, through which it holds the Didipio mine.for the IPO of OceanaGold Philippines Inc., with 20% of its equity capital being offered to the public. At the maximum offering price, the offering would have a value of 7.9 billion Philippine pesos .
CEO Gerard Bond said at the time that the IPO is aimed to tap new Filipino and international shareholders through “robust cash flow and dividend payments” from its gold and copper mine located approximately 270 northeast of Manila. As of year-end 2023, the mine had 1.1 million oz. of gold and 140,000 tonnes of copper in total open-pit and underground reserves , which will be mined over its remaining life of 10 years.
in 2024, around 28,000 metres of resource conversion and expansion drilling is being planned at Didipio underground, focusing on the Napartan target located 9 km northwest of the mine and another pegmatite target similar the Balut Dyke mined at Didipio.Also on Monday, OceanaGold provided its first quarter 2024 operating results for the Didipio mine.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Reddit's IPO May Open Doors for Tech CompaniesIf a rush of companies ends up going public in coming months, they might want to thank Reddit for helping pave the path. The market for initial public offerings has been all but closed to tech companies over the last two years.
Read more »
Zeekr Restarts U.S. IPO Plans, Hopes To Raise $500 MillionThe carmaker initially intended to go public last year, but paused these plans in November
Read more »
Puig Plans to Apply for IPO in SpainPuig has revealed plans to apply for an IPO in Spain
Read more »
China Topic A as Biden welcomes Japanese, Philippine leaders for summitsWashington will be abuzz with summitry this week as President Biden welcomes two key Asian allies, Japanese Prime Minister Fumio Kishida and Philippine President Ferdinand Marcos Jr., to the White House for a string of bilateral and trilateral meetings that will likely feature China as the main topic of conversation.
Read more »
Biden to meet with Japanese and Philippine leaders to strengthen defense cooperationPresident Biden is set to host the leaders of Japan and the Philippines later this week, where they will look to strengthen their defense cooperation.
Read more »
Sierra Space CEO unveils new satellite product ahead of Dream Chaser launch, possible IPOCEO Tom Vice tells CNBC that the company’s NASA-contracted space plane Dream Chaser is on pace to make its first flight in the fourth quarter.
Read more »