OceanaGold: good news from the mine

[skid]

Those who have put sell orders in for 391-394 better jerk them out quick--its like throwing money down the drain.

[BlackPeter]

Those who have put sell orders in for 391-394 better jerk them out quick--its like throwing money down the drain.

No need to withdraw orders - the market mechanism will sort out the entry price by itself ... low offer price means just higher chance to sell, not lower price to receive.

[GR8DAY]

.....gold price holding well and poised for the next run as the Chinese return from their holidays? As a cashed up investor myself, the global uncertainty surrounding the markets combined with unprecedented low bank returns (negative in some countries) leaves me thinking GOLD may be the only safe haven with a bright future........this may well be the combined impetus to propel the GP to historical highs. OGC is in a very very good position if this actually happens and should benefit immensely. But what would I know........just my gut feeling........may happen, may not. Hope so.

[Joshuatree]

Prob the biggest drop of the goldies today down re 11%.Even BDR (cap raise) didn't drop that much.Weird scenes inside the Goldmine. No ideas?

[GR8DAY]

.......NOTE OGC down a mere 6c on the TSX overnight. Underlying growth prospects should underpin OCEANIA while others are subject to further profit taking perhaps. (note local selloff yesterday though) Taking a medium/longterm view on OGC as a middleweight producer that should grow to heavyweight status at some stage. Happy to hold and buy into any lows.

[elZorro]

The OGC ticker is getting some attention from London.


29/2/2016 — General (NZResources)London market website warms to OceanaGold

A London website on the international mining stock market has cited OceanaGold Corporation as one of the new “best-of-breed” gold miners.
Market Oracle said OceanaGold operates several gold mines, and recently acquired a great new gold project in South Carolina.
“While not widely known yet by American investors, OceanaGold eventually will be,” (The company’s performance was recognised at last year’s Diggers & Dealers Forum in Kalgoorlie – Australia’s biggest mining conference – by winning the Diggers Award).
The company started mining gold at the existing Macraes mine in southern New Zealand, which had been owned by OceanaGold’s predecessor company. Though mining started at Macraes way back in 1990, it’s still in production today thanks to a major underground expansion commissioned in 2008.
The website said Macraes has generated great cash flows over the years. This mine helped the company to buy the Didipio project in the northern Philippines through a merger in 2006. Didipio’s development had to be mothballed after the 2008 market panic but was commissioned as a high grade gold-copper mine in 2012.
“Despite the gold-mining sector’s dark times in recent years, OceanaGold never stopped expanding,” the website said.
It Romarco Minerals deal with its “incredible” Haile gold project in South Carolina was cited. That mine is under construction with commercial production to start in early 2017. Also late last year, OceanaGold bought the Waihi gold mine on NZ’s North Island from Newmont Mining.
Growth has given OceanaGold a diversified portfolio. Production from Macraes, Didipio, and Waihi runs around 150,000 ounces, 140,000 oz, and 120,200 oz annually, respectively.
Last year the company produced 419,200 oz of gold and 23,100 tonnes of copper.
Market Oracle said it’s not OceanaGold’s production that makes it extraordinary, but it’s incredibly low costs thanks to Didipio. In 2015 OceanaGold reported cash costs of just $US458/oz gold sold.
The company could have survived a “full-blown gold apocalypse” and been among the last gold companies standing.
Market Oracle said an important mining cost measure is all-in sustaining costs (AISC), which were just introduced by the World Gold Council in 2013. This takes in direct cash costs, all the corporate-level administration, exploration, mine development and construction, remediation, and reclamation.
OceanaGold reported “stunning” AISC of $US709/oz sold in 2015 - among the lowest in the world thanks to Didipio.
The website said OceanaGold has the honor of being included in the leading GDX Market Vectors Gold Miners ETF, which contains the world’s best gold miners. Latest costs were way under the GDX averages.
OceanaGold expects a 2016 production near mid-point levels of 405,000 oz at an AISC of about $US725/oz.
“So it will continue to generate large operating cash flows this year no matter what gold does. And as gold continues to mean revert higher in its overdue major new upleg, and OceanaGold’s cash generated will swell dramatically,” Market Oracle said.
The Haile mine was expected to produce about 150,000 oz pa at AISC of near $US600/oz.
“This truly is an extraordinary gold miner with epic fundamentals, which are readily evident in financial-market terms too,” it said.
At the end of 2015 OceanaGold had a cash balance of $US185 M. Strong cash flow last year of $US171 M helped build “an impressive war chest.” Long term liabilities of $US269 M were seen as substantial but not excessive to the company’s cash flow, even at 2015’s depressed gold prices.
Source: marketoracle.co.uk

[GR8DAY]

.....great find ELZ and WOW! what an endorsement ah, does it actually get any better than that?? I particularly like the part where the report infers that OGC would still be standing (operating profitably) even "if" there was the worst GP calamity!! (or words to that effect)

"THIS TRULY IS AN EXTRAORDINARY GOLD MINER WITH EPIC FUNDAMENTALS" end quote.............nothing more needs saying really does it........except maybe ELZ we could both say in unison "TOLD YOU SO!!!" LOL

And it's very early days I believe in this unfolding growth story.........to the extent that they OGC could be? rapidliy rising to TAKEOVER STATUS by one of the majors?? (hope not for a while yet)


Pleased to be part of this and will continue to buy into it further as the fundamentals/SP/GP etc continue to aline.

[Joshuatree]

Yes indeed thanks elZ. I also am really impressed with management and their track record.So many other Goldies i track they stuff up on their decision making whilst rewarding themselves free/low hurdle options and salary increases and are disingenuous and less than transparent.. And i like being in a stock under the radar of most with very little chatter;on H/C. Reminds meof the expression"Silence is Golden.... and duct tape is Silver":t_up:

[Joshuatree]

Download Document (http://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTkQD5w y%2Fpm%2BBo5lJ2%2Fk%3D) Update on haile Project and Exploration at Haile and waihi. No spin just facts and good results.

[Joshuatree]

Finally through $4; 5 year high. Pullback on the cards of course but higher highs ,looking strong.

[mistymountain]

Patience is always a virtue but as new income streams kick in through 2016 / 2017 its hard to be...

[Joshuatree]

As usual a very transparent, detailed thorough look through view. Patience is easier with having the confidence in management steering the Oceania to a lowest cost lowest debt sleep easy investment. OceanaGold 2016 Analyst Day Presentation (https://www.nzx.com/files/attachments/231752.pdf)

Int re only 3 % retail holders

[limmy]

Good company.

[mistymountain]

Great to see that prudent use of debt. Low cost structure implies a conservative management strategy while maintaining an obvious aggressive company growth philosophy. Best of both worlds.

[GR8DAY]

........great knowing that almost no matter the Price of Gold , OGC will remain profitable.........is there actually another miner on the planet that can claim this status??

Superbly managed and superbly positioned.

[BlackPeter]

........great knowing that almost no matter the Price of Gold , OGC will remain profitable.........is there actually another miner on the planet that can claim this status??

Superbly managed and superbly positioned.

Agree - however, there are still mines with a lower ASIC around. TRY claims for its new mine in Guyana a lower ASIC (from memory below US$500 / oz) than OGC ... however - it is at this stage basically a one trick pony, i.e. you get higher rewards, if everything goes to plan, but take a higher risk if anything goes wrong ...

Discl: hold a bit of both (OGC and TRY)

[elZorro]

Agree - however, there are still mines with a lower ASIC around. TRY claims for its new mine in Guyana a lower ASIC (from memory below US$500 / oz) than OGC ... however - it is at this stage basically a one trick pony, i.e. you get higher rewards, if everything goes to plan, but take a higher risk if anything goes wrong ...

Discl: hold a bit of both (OGC and TRY)

We should have tried North Star. OGC has just put out a massive comparison report (http://www.oceanagold.com/wp-content/uploads/160229-Company-Growth-Update-Release-TSX.pdf)and followed up with heaps of exploration and mining cross-sections. There's also a bit of a compliment for the effort GEL put into WKP (effort, not too much cash) in that OGC intend to drill it again in 2016.

[JBmurc]

Great to see OGC to continue to invest in New Zealand ...with many other sectors under pressure ...an increase in high pay Mining jobs be great for many communities

[mistymountain]

Short term looks encouraging for rest of 2016...

http://www.mining.com/the-feds-just-kicked-gold-price-back-into-bull-market/

[GR8DAY]

https://www.nzx.com/files/attachments/233410.pdf

.......yet further expansion moves from OGC. Do these guys ever sleep??

[BlackPeter]

Well, maybe not their acquisition team, their shareholder relations team is however less switched on. They couldn't care less and don't even bother to respond to emails from angry share holders.

Anybody else annoyed about their new policy to pay the dividend just in US$ into US based accounts? If yes - how did you go with your complaints? I wrote to the the share holder relations director (Sam Pazuki) who, if he exists, does not bother to respond to share holders.

Maybe he does not know that their are humans outside of the US?

Tried to get Computer share (another quite hopeless bunch) to pay the dividend into my (NZ based) OMCA account, but they say they can't. Sure - they will send plebs like us (i.e. US aliens) a US$-cheque, but I assume the bank fee to cash it in will be larger than the dividend.

Ridiculous service for a company listed on the NZX. Started to look for "goldies" with a more thoughtful share holder service. Any suggestions?

[Joshuatree]

Try ringing them and you will go to the head of the queue; why make yourself low priority with an angry email?
Really happy with the company and their progress. Under the radar compared to other Goldies with little posting(on H/C etc) and yet they are steadily growing into a top tier company.

[kerryo]

Well, maybe not their acquisition team, their shareholder relations team is however less switched on. They couldn't care less and don't even bother to respond to emails from angry share holders.

Anybody else annoyed about their new policy to pay the dividend just in US$ into US based accounts? If yes - how did you go with your complaints? I wrote to the the share holder relations director (Sam Pazuki) who, if he exists, does not bother to respond to share holders.

Maybe he does not know that their are humans outside of the US?

Tried to get Computer share (another quite hopeless bunch) to pay the dividend into my (NZ based) OMCA account, but they say they can't. Sure - they will send plebs like us (i.e. US aliens) a US$-cheque, but I assume the bank fee to cash it in will be larger than the dividend.

Ridiculous service for a company listed on the NZX. Started to look for "goldies" with a more thoughtful share holder service. Any suggestions?

For many years I have deposited AUD cheques into my BNZ acct for free, Westpac want 25.00 for the same privilege. I don't know about USD could be worth your while to check. Cheers.

[GR8DAY]

Well, maybe not their acquisition team, their shareholder relations team is however less switched on. They couldn't care less and don't even bother to respond to emails from angry share holders.

Anybody else annoyed about their new policy to pay the dividend just in US$ into US based accounts? If yes - how did you go with your complaints? I wrote to the the share holder relations director (Sam Pazuki) who, if he exists, does not bother to respond to share holders.

Maybe he does not know that their are humans outside of the US?

Tried to get Computer share (another quite hopeless bunch) to pay the dividend into my (NZ based) OMCA account, but they say they can't. Sure - they will send plebs like us (i.e. US aliens) a US$-cheque, but I assume the bank fee to cash it in will be larger than the dividend.

Ridiculous service for a company listed on the NZX. Started to look for "goldies" with a more thoughtful share holder service. Any suggestions?

Doesnt sound great BP.... BUT........couldnt really give a toss how they pay their dividends..........this is a growth story after all........and growing they are at a rate of knots!!

[BlackPeter]

Try ringing them and you will go to the head of the queue; why make yourself low priority with an angry email?
Really happy with the company and their progress. Under the radar compared to other Goldies with little posting(on H/C etc) and yet they are steadily growing into a top tier company.

Fair enough ... though I didn't said that I sent them an angry email. I said an email from an angry share holder. Different thing. My emails are always polite.

Not sure, though how successful calling them would be. I spent last week nearly one working day just being ping ponged by Computershare (their registrar) who don't seem to be internally clear whether NZX listed OGC shares are hold buy the Australian or the New Zealand branch of Computershare and subsequently which of their branches is responsible for communicating with OGC share holders in NZ, and which rules apply.

Last information after being referred three times from NZ to Australia and than back seems to be that I need to talk with the Australian people for NZ listed OGC shares, but unfortunately there is nothing they can do for me unless I have a US based US$ account.

Maybe I call Sam Pazuki one day ... if I have another spare working day to waste. Just wondering, though - am I the only OGC share holder annoyed by the stance and unresponsiveness of this company re dividend payments?

[BlackPeter]

cheers kerryo.

Just out of interest - does anybody know a bank in NZ accepting deposits of US$ cheques without charging ridiculous fees?

[Joshuatree]

Calling always works way better as long as one has done their homework and got their questions ready and are courteous. I have my Investment stocks with a full service broker so any overseas divs are automatically credited to my various cash management accounts and sent out in statements for me to pass on to my Accountant.

[GR8DAY]

........well what a day,week month, year for OGC! As Air NZ continues its FREEFALL to new lows OGC soars to new heights!! As of today OGC is worth more by Market Cap than AirNZ........who would have believed?.........and soon to break through the $3b mark by Market Cap. I can truly see the shares going through the $5 mark should things continue to fall into place as they are. A beautifully well managed company by all standards. Regardless of the Gold Price I still maintain OGC is a "buy and hold" stock........dangerous call to trade out in my humble opinion.......as tempting as it may be at times. Good luck to all holders.

[Joshuatree]

OGC Achieves Record Quarterly Gold Production In Q1 2016-

OGC.AX (http://hotcopper.com.au/threads/2758007/)OceanaGold Q1 2016 Financial Statement-OGC.AX (http://hotcopper.com.au/threads/2758006/)


OceanaGold Q1 2016 MDA-OGC.AX (http://hotcopper.com.au/threads/2758013/)


OceanaGold Q1 2016 Results Presentation-OGC.AX (http://hotcopper.com.au/threads/2758474/)

[Hectorplains]

OGC Achieves Record Quarterly Gold Production In Q1 2016-

OGC.AX (http://hotcopper.com.au/threads/2758007/)OceanaGold Q1 2016 Financial Statement-OGC.AX (http://hotcopper.com.au/threads/2758006/)


OceanaGold Q1 2016 MDA-OGC.AX (http://hotcopper.com.au/threads/2758013/)


OceanaGold Q1 2016 Results Presentation-OGC.AX (http://hotcopper.com.au/threads/2758474/)


Great result, huh! How much is already built into the sp thou, JT?

[Joshuatree]

Don't know that; most Goldies going up atm from prospectors to developers to producers. ;holding not buying. Their two investments in GSV and Nu Legacy have doubled already and Gold price up again atm. Production and prices up (for Copper too),AISC pretty much the same forecast to drop to sub $600 oz.

Haile ramping up to full production early 2017; lets hope so.

$18.3 mill loss on hedging!!!? will that reverse next qtr?

[GR8DAY]

........well what a day,week month, year for OGC! As Air NZ continues its FREEFALL to new lows OGC soars to new heights!! As of today OGC is worth more by Market Cap than AirNZ........who would have believed?.........and soon to break through the $3b mark by Market Cap. I can truly see the shares going through the $5 mark should things continue to fall into place as they are. A beautifully well managed company by all standards. Regardless of the Gold Price I still maintain OGC is a "buy and hold" stock........dangerous call to trade out in my humble opinion.......as tempting as it may be at times. Good luck to all holders.


.........OOPS! Just re-read my friday post. I actually meant the $6 mark NOT $5 (honestly) LOL Five buks was clearly going to happen shortly (this morning in fact). So just to re-iterate (or more specifically re-RATE), I wont be surprised to see a 6 in front of the SP in the not-too-distant future......IMHO.

[elZorro]

.........OOPS! Just re-read my friday post. I actually meant the $6 mark NOT $5 (honestly) LOL Five buks was clearly going to happen shortly (this morning in fact). So just to re-iterate (or more specifically re-RATE), I wont be surprised to see a 6 in front of the SP in the not-too-distant future......IMHO.

Interesting 4-month chart of US$Gold against OGC. Read: OGC hasn't done anything startling for four months.

[Joshuatree]

I have heard re problems in the ramp up of Haile but can't substantiate it with any detail or whether it is in fact accurate.Glitches are normal;whether this is something bigger and costly i just don't know. They have mentioned mining and processing "enhancements" .$3.72 3 months ago $4.42 today.

[GR8DAY]

Interesting 4-month chart of US$Gold against OGC. Read: OGC hasn't done anything startling for four months.


......SP was showing the beginnings of something "startling" ELZ just the other day (touched $5.20 was it?) Anyway such are Gold Stocks. I remain in the camp that regardless of the GP , Oceana is "well positioned" for a re-rate once Haille comes into production and should the GP be around or above where it is now as well..........perfect storm. With global uncertainty on the rise ( re: markets/terrorism/global warming/USA elections and the Trump/chump factor etc) Im picking Gold to continue north over-all with dips in between....as we seeing now. But then what the hell would I know.

[Joshuatree]

Been some dips alright GR8DAY!. Good announcement out . 42 km drilling done this year so far ,more to come.lots of good grades everywhere but some are narrow vein and should be am i right?.
Download Document (http://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvFDZpiw zEv0uwueh2%2BNxNT7rJHYsdXBJjP1HhlFA%3D)

[Joshuatree]

Im being a bit cautious re exposure to the Phillipines and new govt and environment minister who hates mining . So took profits today and diversified into a bunch of others last friday. I see Newcrest have a J/V with NTL at Oceanias doorstep in the Waihi area!

[Joshuatree]

Am watching the hew president of the Phillipines being sworn is atm. I heard that He has stated that he will be interviewed by the media at the END of his term , not during.

[mistymountain]

SP Cracked that $6 mark.

Next set of Results not too far off.

SP $10 by Jan 2017 ?... famous last words.... maybe not...

[theace]

SP Cracked that $6 mark.

Next set of Results not too far off.

SP $10 by Jan 2017 ?... famous last words.... maybe not...

Yes, have been seeing this .... have contemplated offloading what I have, then buying again when it dips. Bit will it (dip)?

[elZorro]

Yes, have been seeing this .... have contemplated offloading what I have, then buying again when it dips. But will it (dip)?

It dipped bigtime around the last GFC, and then a lot of trading went on, and it became an 18-bagger over the next 2 years in the recovery phase. It's still highly linked to the PoG otherwise, so if gold keeps going up, so will the OGC price, unless something bigger and scarier happens. It used to be a $1bill company, now it's over $3.5bill MCAP, during the GFC it crashed to about $40mill, a crazy figure. It's not the same company now, but that dip was a massive opportunity for savvy investors. I wasn't one of them, not properly.

[mistymountain]

Some very interesting positive factors now supporting OGC growth across partial takeovers and acquisitions.

Add this to the mix:

http://www.gold.org/supply-and-demand/gold-demand-trends

and patient investors could be rewarded as the World ramps up its money printing and negative interest rate regime

[BlackPeter]

Some very interesting positive factors now supporting OGC growth across partial takeovers and acquisitions.

Add this to the mix:

http://www.gold.org/supply-and-demand/gold-demand-trends

and patient investors could be rewarded as the World ramps up its money printing and negative interest rate regime

Gold may go up or may go down or move sideways - as it always does. However - if you are betting on gold, than OGC might not be your best option to do that, given that their flagship gold field (Dipidio) is sitting in the Philippines and the new Philippine president is cracking down on (legal) mining http://fortune.com/2016/08/24/philippines-miners-rodrigo-duterte/ but strongly supporting extrajudicial killings (http://www.aljazeera.com/news/2016/08/philippines-police-chief-1900-killed-anti-drug-war-160823070010316.html).

A president ignoring not just the laws of the land but agreed international law and opposing mining might not be the best base for a stable investment environment I would have thought.

[BlackPeter]

Uncertainty rules - OGC waiting for the outcome of the recent mining audit ... and not everybody seems to be happy with them mining there ...

http://www.philstar.com/business/2016/08/24/1616792/oceanagold-sees-no-reason-withdrawal-dipidio-exploration-permit

[Aaron]

Thanks for the article Blackpeter. The comments at the end of the article don't really show an outpouring of hate towards OGC and they aren't talking about stopping current operations just additional exploration. Hard not to get worried when you read about the Phillipines new leader though.

[BlackPeter]

Thanks for the article Blackpeter. The comments at the end of the article don't really show an outpouring of hate towards OGC and they aren't talking about stopping current operations just additional exploration. Hard not to get worried when you read about the Phillipines new leader though.

You are right, no outpouring of hate ... but certainly not of happiness either. Newer article in the Malaya indicates that DENR is clearly targeting Dipidio: http://www.malaya.com.ph/business-news/business/denr-runs-after-oceanagold.

Obviously - we (well, me for certain) don't know whats behind the allegation:


the residents and the provincial governor claimed that the mining company is dumping minetailings on farmlands.


What concerns me more is that in the current climate in the Philippines it might not matter whether this allegation is true or not. The authorities over there are currently happily killing people for alleged drug offences (without due process), so why do we think it might be better with mining operations?

[mouse]

Does anyone have ideas on the Philippine situation where the President has told companies and aid agencies to get out due to security concerns? Does this apply to OceanaGold. If it does, what is the effect on the value of the Company?

Further information now is that The Philippines are stopping 'joint naval patrols' with America. Plus sourcing their weapons in future, maybe, from China and Russia.
There seems to be an international realignment. Any ideas?

[elZorro]

Does anyone have ideas on the Philippine situation where the President has told companies and aid agencies to get out due to security concerns? Does this apply to OceanaGold. If it does, what is the effect on the value of the Company?

Further information now is that The Philippines are stopping 'joint naval patrols' with America. Plus sourcing their weapons in future, maybe, from China and Russia.
There seems to be an international realignment. Any ideas?

Haven't been following the political situation, sorry. I think OGC has worked hard with the locals over there though.

Latest report:
http://oceanagold.cmail20.com/t/ViewEmail/r/2FC76DE201CC8EE02540EF23F30FEDED/442A2E961AFE0C324415EB25BE999822

They have done a lot of drilling, 5 rigs in Waihi alone, and in the last part of 2016 they'll be drilling WKP north of Waihi again, the best/biggest Glass Earth or Antipodes Gold prospect, which they got for a song. I helped subsidise that price, along with the other shareholders..

[mouse]

Haven't been following the political situation, sorry. I think OGC has worked hard with the locals over there though.

Latest report:
http://oceanagold.cmail20.com/t/ViewEmail/r/2FC76DE201CC8EE02540EF23F30FEDED/442A2E961AFE0C324415EB25BE999822

They have done a lot of drilling, 5 rigs in Waihi alone, and in the last part of 2016 they'll be drilling WKP north of Waihi again, the best/biggest Glass Earth or Antipodes Gold prospect, which they got for a song. I helped subsidise that price, along with the other shareholders..

Many thanks for the link. I just wonder if they should slow down a little on the Philippines mine investment. It looks a bit uncertain there. But the Philippines has always been uncertain.

[BlackPeter]

Interesting post on hotcopper ... http://hotcopper.com.au/threads/the-sovereign-risk-alarm-is-now-flashing-red.2902931/#.V9sRZ5h97IU

It appears not all of the locals are happy with OGC's operation there ...

[GR8DAY]

Interesting post on hotcopper ... http://hotcopper.com.au/threads/the-sovereign-risk-alarm-is-now-flashing-red.2902931/#.V9sRZ5h97IU

It appears not all of the locals are happy with OGC's operation there ...

........I read that as "dirty chinese miners". I dont think OGC falls into this category? This could actually be good for OGC as they flush out these "dirty" miners in favour of the environmentally (and socially) "clean" ones.........like OGC. Hope so.

[BlackPeter]

........I read that as "dirty chinese miners". I dont think OGC falls into this category? This could actually be good for OGC as they flush out these "dirty" miners in favour of the environmentally (and socially) "clean" ones.........like OGC. Hope so.

Maybe you should look at some of the pictures and read the posters the demonstrators are carrying ...

"OCEANA LANDGRABBER GOTO MELBOURNE GO AWAY" does not sound specifically targeting dirty Chinese miners, doesn't it?

Some others read "OCEANA STOP DESTROYING OUR LANDS ENVIRONMENT" and "STOP OCEANA GOLD". Good for OGC? Well, I don't know.

The photo showing the environmental scars created by the mine creates is not pretty either.

And sure - the demonstration might just be a "rent a crowd" ... but in the current political climate in the Philippines any attention foreign miners might attract is bad. Remember - the current president is happy to encourage extrajudicial killings as long as he isn't too busy in affronting foreign heads of states. He is certainly not worried about due process if he does not like a foreign company.

[GR8DAY]

.......didnt see those photos sorry. I do understand OGC to be as environmentally and socially aware as any miner so I hope this holds them in good stead. Lets hope heads dont roll..........so to speak.

[cyclist]

Ugly day today for OGC. An announcement to the market about the uncertainty. I suspect, except for small groups like here, it was mostly off people's radar until now. (Thanks BP, and previously JT, for the early warning).

I've been holding on hoping for a jump in the gold price before I sold. My plan was to sell after the recent fed announcement, as I figured that would generate a short term peak (which it did). But I didn't sell enough ....

Note to self: Don't be greedy and stick with the plan.

Anyway, lightened up considerably today. Still been a very worthwhile investment, and will be keeping a keen eye on the outcome. This was acting as very nice hedge to my NZX portfolio. Shame to say (mostly) goodbye.

[Joshuatree]

Goodluck anyone still holding.It has been a slow train wreck (didipo)with plenty of time to bail out.

[Aaron]

Goodluck anyone still holding.It has been a slow train wreck (didipo)with plenty of time to bail out.
I sold yesterday. Should have taken note when Blackpeter first brought it up and not tried to be optimistic. Purely a speculation for me though never understood the company except that Didipio is a big part of the company.
Bought around October last year out of frustration with central banks ongoing success keeping everything buoyant and needing to do something/anything as the rest of the world got wealthier while I waited for the crash. Only a small speculation but 40% gain in twelve months better than most of my forays in the stock market. Could have been closer to 70% gain but my reasoning for the speculation was that Central Banks will destroy people's faith in currency before they let the financial markets deflate/crash and that is a longer term gamble. Got spooked when I heard Oceania was on a bureaucrats list. The Phillipine's president sounds like a Trump and a bit of a loose cannon which might flow through the bureaucracy.

[BlackPeter]

Interesting market reaction to a quite "content free" update: https://www.nzx.com/files/attachments/245155.pdf

Investors probably reading between the lines ... SP down 12%!

[Aaron]

More likely a nearly 3% drop in the price of gold overnight was responsible for most of the drop.

[BlackPeter]

More likely a nearly 3% drop in the price of gold overnight was responsible for most of the drop.

You think so?

Which other gold stock dropped today by nearly 14%? NCM (just an example) went down 5.5% at the time of writing and TRY (just another example) by 7.4%; So, yes the drop of PoG was a factor, but certainly not the most significant one for OGC to tank.

[Aaron]

Evn 7.9%
rms 8.4%
nst 9.7%
For the sake of argument on average gold miners have gone down 7.78% today probably just over half of 14%. That makes whatever is affecting all miners prices slightly more significant than OGCs company specific problem.
Maybe it is an opportunity if OGC is as squeaky clean as they say.

[BlackPeter]

Evn 7.9%
rms 8.4%
nst 9.7%

Well, yes - so all of them tanked less than OGC.

[Aaron]

Evn 7.9%
rms 8.4%
nst 9.7%
For the sake of argument on average gold miners have gone down 7.78% today probably just over half of 14%. That makes whatever is affecting all miners prices slightly more significant than OGCs company specific problem.
Maybe it is an opportunity if OGC is as squeaky clean as they say.
Sorry was editing as you replied.

[BlackPeter]

Evn 7.9%
rms 8.4%
nst 9.7%
For the sake of argument on average gold miners have gone down 7.78% today probably just over half of 14%. That makes whatever is affecting all miners prices slightly more significant than OGCs company specific problem.
Maybe it is an opportunity if OGC is as squeaky clean as they say.

Well, it sure is ... IF they are squeaky clean and IF they manage to get on the right side of the people in power.

Re environmental issues - I think that OGC clearly belongs to the better miners in class. Whether this means that they are squeaky clean - I don't know.

Re getting into the good books of the people currently in power ... given that the current government seems to make up the laws as they please, am I not quite sure whether this is a process they have under their control.

I guess it is just bad luck that they operate their flag ship project in the Philippines under a vigilante like Duterte. I certainly hope that they manage to find an acceptable arrangement with the government, assume however that this will (even best case) reduce their margin one way or another.

I suppose that's what the markets think as well.

[smalltrader]

http://www.manilatimes.net/suspended-miners-recommended-presidential-award-mgb/290354/
OCG is shortlised for an "environmental awards"...this would definitely help with the decision from DENR...:t_up:

[cyclist]

http://www.manilatimes.net/suspended-miners-recommended-presidential-award-mgb/290354/
OCG is shortlised for an "environmental awards"...this would definitely help with the decision from DENR...:t_up:

And a reasonably positive update to the market today: https://www.nzx.com/files/attachments/246124.pdf

Nice to see a little bit of good news.

[mistymountain]

Encouraging news today and a credit to this well run, growth mindset company. Good stuff!

[Sideshow Bob]

https://www.odt.co.nz/business/oceanagold-delist-nzx-trim-compliance-costs

delisting from NZX - another gonnnnneeeee.....

[peat]

https://www.odt.co.nz/business/oceanagold-delist-nzx-trim-compliance-costs

delisting from NZX - another gonnnnneeeee.....

yeh this sucks, our only decent gold stock.
Still it will be on ASX, I spose thats good enough (he said begrudgingly)

[mistymountain]

So the delisting from NZX is a curveball.

Rationale makes sense. Emotion can take over at times though.

May have to start a new OGC thread on the ASX...

[mistymountain]

Those mid year political dramas regarding Didipio seem like distant memories now....
http://www.businessmirror.com.ph/2016-another-grand-slam-year-for-oceanagold/

2017 is shaping up nicely now.

[Lewylewylewy]

Are there any tax implications of investing in this now it's not in the NZX?

[BlackPeter]

Are there any tax implications of investing in this now it's not in the NZX?

No change - OGC always counted for the IRD as foreign stock ... it doesn't matter whether they are listed here, if their head office and main operations are overseas.

[mistymountain]

Given the last OGC thread had the word "trouble" in it and since then the SP has gone from 0.18 to 3.25 in 16 months I thought I'd be bold and start a new thread to reflect:

1. OGC resource upgrades
2. Mined gold being sold on spot market
3. Gold selling above US$1100
4. Record gold production
5. A dimming down of the GFC
6. The SP appreciation

Trouble at the Mine doesn't quite fit.

A key question I have is:

based on fundamentals of gold prices at this level and current mining production is the SP a fair price or are we going to expect continued price appreciation?

Some analysis as opposed to opinionating would be appreciated

Seems apt to sign this thread out now OGC now being an ASX listed company only now.

Apt too that they announced the commencement of mining at Halie today.

In reflection:

POG still in that $1100 - 1200 range.

Gold resource has increased.

Two dividends paid (2014 / 2015)

SP now approx. NZ$4

Sovereign debt still lurks....

The next 5 years for OGC, I think, will be a continuation of the "good news" that this excellent company has delivered to date....

That 2008/2009 SP of $0.18 seems a long time ago now...

[BlackPeter]

Big extension opportunity identified in Waihi ...

https://www.asx.com.au/asxpdf/20200716/pdf/44klhl15b48f65.pdf

Timeline to 2036 ... would add three hundred additional jobs to their workforce, some hundred million dollar investment (i.e. plenty more indirect new jobs).

Obviously - depending on consents. Will be interesting how the current government sees these opportunities in a post Covid environment ...

[Getty]

Crusher Collins has just announced that if she's in power, she will not reform the Resource Management Act, she will scrap it completely!
If so, that should get NZ moving again.

[Curly]

Well thats not going to happen then is it.

[nztx]

Well thats not going to happen then is it.

Well the "that's not going to happen" almost didn't happen in last election for the merry floundering trio of Dizzy, Dopey & Dozier -
Let's not have short memories or temporary amnesia about how the current mob got parachuted in prepared or most likely not .. ;)

[elZorro]

Big extension opportunity identified in Waihi ...

https://www.asx.com.au/asxpdf/20200716/pdf/44klhl15b48f65.pdf

Timeline to 2036 ... would add three hundred additional jobs to their workforce, some hundred million dollar investment (i.e. plenty more indirect new jobs).

Obviously - depending on consents. Will be interesting how the current government sees these opportunities in a post Covid environment ...

Yes, well spotted BlackPeter, I found this report interesting. Oceana Gold is going to run out of easy ore near their processing facility in a few years and seem to be keen on mining out WKP from underground, entering the DOC area from a decline on private land. I think it'll be pretty tidy. I also noted that the East Graben structure, first noted by Glass Earth after some limited JV drilling in 2012, is the best prospect seen there, with some eye-watering grades and thick veins. OGC will add to their processing capacity in Waihi, process the new ore and it'll be a big part of their operation for a few years. The mineralisation is apparently similar to that seen in Waihi.

To get to this point, they've drilled another 35,000 mtrs at WKP, which would have cost about $35mill. Out of the league of GEL or AXG, but it does show that GEL weren't that far wrong all along. GEL made the classic mistake of getting into a business they didn't know much about - alluvial mining - with shareholders funds. So by the time this has come to pass, GEL is long gone, but maybe Newmont had a big part to play in that with their delays in WKP drilling. But maybe they were slow because GEL didn't have the cash for their part in the JV, and they were eyeing up leaving NZ.

[Getty]

Someone likes what they see, up 6.9% already after only 1 and a half hours trading, on strong volume, best of the goldies I've checked it against.

[GR8DAY]

Has been in a clear up trend for a few weeks now..... been holding for a number of years. I still consider OGC (Au and TSX) to be one of the best. .... but I'm still about 6k in the red with this one (was about 12k down). ...4.50 break even. Happy to hold for SP to return to this level..... when not if.

[BlackPeter]

Has been in a clear up trend for a few weeks now..... been holding for a number of years. I still consider OGC (Au and TSX) to be one of the best. .... but I'm still about 6k in the red with this one (was about 12k down). ...4.50 break even. Happy to hold for SP to return to this level..... when not if.

Well, yes - I think looking at their overall exploration results and the handling of technical issues they are one of the better miners. Not so sure though about the "political intelligence" of their management, if I look at the handling of the Didipio saga so far. Here is hoping.

Discl: hold and in the money :t_up:;

[GR8DAY]

......gr8 news yesterday and matched with a 30% SP rebound. This will be just the start of it IMHO with Didipio saga about to be sorted on the back of rising GP PLUS Martha Hill extension just approved also last week. Should see SP now run back to over $4.......nice little xmas pressie. Go you good thing!

[BlackPeter]

......gr8 news yesterday and matched with a 30% SP rebound. This will be just the start of it IMHO with Didipio saga about to be sorted on the back of rising GP PLUS Martha Hill extension just approved also last week. Should see SP now run back to over $4.......nice little xmas pressie. Go you good thing!

Well, yes - this was a nice surprise, wasn't it? FWIW - analyst consensus for OGC was around $3.50 with Didipio zero-rated. Wondering what the underlying value is now with their lowest ASIC mine now ascending like Phoenix from the ashes?

I guess it all depends on the next moves of the Philippine government, but if all goes well, a $5 handle by end of next year might well be possible, wouldn't it?

Add to that the potential for further rising gold prices (I guess at some stage the Covid recession has to bite) - and only the sky is the limit ...

Discl: holding and potentially overexcited :) - DYOR;

[Getty]

......gr8 news yesterday and matched with a 30% SP rebound. This will be just the start of it IMHO with Didipio saga about to be sorted on the back of rising GP PLUS Martha Hill extension just approved also last week. Should see SP now run back to over $4.......nice little xmas pressie. Go you good thing!

Just a correction, it was Macraes which has had extension appro, not Martha Hill.

The MH proposed developments are huge, and may take @ 2 years to full appro & commencement

[GR8DAY]

Just a correction, it was Macraes which has had extension appro, not Martha Hill.

The MH proposed developments are huge, and may take @ 2 years to full appro & commencement

.....indeed thanks Getty, i stand corrected. (getty ing a little excited like BP about the new prospects) !!

[mfd]

As a reward to local shareholders who have suffered through the Didipio debacle and are awaiting a re-rating as gold flows from the Philippines once more, OGC are going to delist from the ASX. Fantastic.

[clearasmud]

As a reward to local shareholders who have suffered through the Didipio debacle and are awaiting a re-rating as gold flows from the Philippines once more, OGC are going to delist from the ASX. Fantastic.
What are you going to do?

[mfd]

What are you going to do?

Nothing at the moment. The ASX price has plummeted on the news after the TSX was flat and the Q2 results look decent.

If the ASX calms down and gets back to parity with the TSX I might sell on market, otherwise I will probably take the voluntary sale option. Looks like OGC will sell my shares on the TSX on my behalf, pay my fees, and pay me in NZD (possibly with a horrible exchange rate?).

Could also transfer shares to the TSX if I can find a broker but keen to avoid that hassle.

[limmy]

I believe it went from an NZX company to an ASX company and now it's moving on to become a TSX. I wonder why ?

[Walter]

They claim more than 90% of the trading is happening in Canada and that the Australian listing is just a cost with few benefits. As a shareholder I disagree.

[limmy]

It's probably because there are compliance costs for the company to continue listing on the ASX, however delisting means that shareholders will have difficulty selling these shares once they move to the TSX, which explains the recent drop in share price as people rush to exit the stock.

They claim more than 90% of the trading is happening in Canada and that the Australian listing is just a cost with few benefits. As a shareholder I disagree.

[NADZAB]

Has anyone found a viable option how to hold the shares on the TSX when they transfer. I thought my US account at Charles Schwab would be a viable option but after investigation apparently not. Seems Canada is paranoid about AML and after some googling nothing is jumping out at me to find a online broker that accepts non Canadian.

[Relaxed]

Has anyone found a viable option how to hold the shares on the TSX when they transfer. I thought my US account at Charles Schwab would be a viable option but after investigation apparently not. Seems Canada is paranoid about AML and after some googling nothing is jumping out at me to find a online broker that accepts non Canadian.

Interactive Brokers allow you to trade on many different markets in many different currencies

[Chippie]

I hope a few people did hold onto their OGC shares. Up from around CAN$2.00 to CAN$3.40 since October.

It sucks for people who felt compelled to sell because they were unsure of finding a broker.