OceanaGold (Philippines), Inc. reported a full-year net income of $77 million for 2025, more than double the $30.3 million earned in 2024, as strong gold prices and steady production drove record revenue.

The company said in a stock exchange report on Thursday that it generated $438.8 million in annual revenue, supported by a record average realized gold price of $3,494 per ounce.

Earnings per share reached $0.03, while free cash flow hit $130.2 million for the year.

“We are pleased to close 2025 with another year of safe and responsible operations, delivering gold and copper production in line with plan,” Brian Martin, Chair of the Board of OceanaGold Philippines, said.

“Looking ahead to 2026, our focus remains on maximizing underground productivity, advancing underground and near mine exploration, and driving initiatives that enhance efficiencies,” Martin said.

This year, the company expects to produce 85,000 to 105,000 ounces of gold and 13,000 to 15,000 tonnes of copper, with all-in sustaining costs projected to be between $975 and $1,100 per ounce.

OceanaGold Philippines produced 90,700 ounces of gold and 13,300 tonnes of copper last year, in line with its production guidance. The company’s all-in sustaining cost averaged $1,255 per ounce for the year.

The company ended the year debt-free with a net cash position of $84 million. A fourth-quarter dividend of $38 million was declared, bringing total 2025 dividends to $112 million.