OceanaGold: good news from the mine

**Vtrader** · 15-09-2010, 06:04 AM

+_)(*&^%$#!~
Need to learn to count to 5.
V.

**mistymountain** · 15-09-2010, 06:54 AM

POG spiked last night...

I wonder how this will affect SP today

**elZorro** · 15-09-2010, 07:23 AM

Hi MM, nice gold price. About buy-ins, it looks more like OGC management are wanting to focus on getting all their NZ prospects and the balance sheet in order, and that is a tactic that could be aimed more at garnering interest from bigger players. Very hard to tell though. In any case, it's a safe policy, a win-win.

Vtrader: were those expletives about EWT? I saw gold spiking a bit early last night but didn't expect this result. I'm still underweight with OGC, lack of more funds, but still made some good moolah on paper yesterday.

OGC still heading up on the TSX, should break $4.00, again on high volume, up 5%.

**GR8DAY** · 15-09-2010, 09:58 AM

misty think the SP will crash big time today..........just so I and VT can buy back in.........I hate OGC!

**elZorro** · 15-09-2010, 12:19 PM

Little doubt that the Aussies are still keen this morning, PoG up because the dollar is weakening as expected. Good buying pressure on gold bullion as well. Gr8day, what if the rally for gold continues for a few days? you may as well swap some OGC with your HGD shares..

**GR8DAY** · 15-09-2010, 03:02 PM

......if I did that Elz you cud put money on HGD taking off the next day!! I wud never have held OGC thru this amazing run anyway, Im just too damned short sighted and love to bank a profit............maybe a lesson here for me if I can take it on board for next time?

**elZorro** · 15-09-2010, 04:13 PM

Originally Posted by GR8DAY

......if I did that Elz you cud put money on HGD taking off the next day!! I wud never have held OGC thru this amazing run anyway, Im just too damned short sighted and love to bank a profit............maybe a lesson here for me if I can take it on board for next time?

GD, your buy-in timing was near perfect, you got plenty of mine back then. Anyway you did make a profit, reset to stop losses of 20% as Mr P suggested. I wonder if he's still holding..and why don't we have a flash chart of this phenomenal capital growth? OGC has plenty of upside surprises left, so until gold heads south in a big way you'd be fairly safe holding.
IMHO, DYOR etc...

**elZorro** · 15-09-2010, 08:56 PM

GD: This looks like a good article, if you're still not sure about ongoing capital gains from high priced goldminers - we haven't seen it all yet.

And, Simon Hartley must have written this before gold raced up..

Simon Hartley — 15 September 2010

Shares in OceanaGold Corporation (TSX, NZX & ASX: OGC) passed through $5 for the first time yesterday after having been added to three more Standard & Poor's rating agency indexes, including the influential ASX 200 Index on the Australian Securities Exchange.
Oceana shares, which hit a record $4.94 last week, yesterday traded up more than 4% and gained 20c to hit $5 -- a far cry from the 22c per share New Zealand's largest gold miner had slumped to 21-months ago.
The stocks of miners have seen some revival in fortunes, following the dampening of the proposed Australian Government's mining tax, plus some resurgence of interest in delivery of raw materials to China.
While global spot gold prices have softened to around $US1,245/ounce ($NZ1,705/oz), from a record $US1,265/oz in June, investors are keeping in touch with gold as a safe haven investment -- underpinned by China and India's seasonal demand of bullion for weddings and jewellery.
Oceana announced on Monday it had been added to the international rating agency Standard & Poor's ASX 200 Index, and in Toronto on to the S&P TSX Composite Index and S&P TSX Small Caps Index.
In mid-June it was placed on S&P's TSX Global Gold Index and its TSX Global Mining Index.
Inclusion on the ASX 200 attracts more scrutiny from large, institutional investors, many of which must carry a swathe of ASX 200 companies within their respective portfolios, said Craigs Investment Partners broker Peter McIntyre.
“Their inclusion will see a lot more interest taken by larger players,'' McIntyre said.
He said overall annual gold production was down; underpinning some demand and China was rebuilding its own gold inventory.
“Gold has always been considered a hedge against inflation and it has become more mainstream for institutions and governments to hold gold,'' he said.
Forsyth Barr broker Suzanne Kinnaird said investor sentiment in Oceana is positive following their strong, recent, share price gains, bolstered by this week's inclusion on the three additional S&P indices.
“This [inclusion] can create demand from both index tracking funds, as well as speculators trying to benefit short-term from these fund managers' demand,” she said.
Kinnaird noted that triple-listed Oceana's primary listing is on the Toronto stock exchange in Canada and the respective share prices were “trading in-line” as expected. On Monday its Toronto share-price closed at $C3.78, which equated to $NZ5.03, Kinnaird said.
*Simon Hartley is a senior business reporter with the Otago Daily Times.

**elZorro** · 16-09-2010, 07:36 AM

Here's something for MistyMountain: a possible Didipio partner?

Having the biggest Phillipines miner on board (Philex) might be a very good idea. Note they have much larger projects over there to look at, but don't seem to be too knowledgeable about the super-big gear. So maybe Didipio is a good fit, certainly well inside their budget. The article is not well-written, might need to do some more research.

Here's another take:

Philex eyes Oceana Gold's Vizcaya project
By Marianne V. Go (The Philippine Star) Updated September 16, 2010 12:00 AM Comments (0) MANILA, Philippines - Aside from the Tampakan project of Xstrata, Philex Mining Corp. is also looking at Oceana Gold’s Didipio gold project in Nueva Vizcaya.

This was revealed yesterday by Jose Ernesto Villaluna Jr., president and chief operating officer of Philex on the sidelines of a three-day conference and exhibition on mining at the Manila Hotel.

Villaluna said Philex is now conducting studies and may soon undertake a due diligence for the acquisition of Australian Indophil’s 37.5-percent stake in Sagitarrius Mines Inc. (SMI) which is the Philippine subsidiary controlled by Swiss-based Xstrata (62.5 percent).

In addition to this, Villaluna said Philex is also looking at other projects including Didipio.
“We are conducting studies on these projects to find fatal flaws and possible opportunities,” he said.
Both the Tampakan and Didipio projects are facing problems.

The Tampakan project which straddes South Cotabato, Davao del Sur and Sultan Kudarat is faced with an open pit mining ban passed by the provincial board of South Cotabato.
Chinese firm Zijin had made an offer for Indophil’s stake in SMI, but backed out following the approval by the South Cotabato provincial board of the open pit mining ban.

The Didipio project of Oceana Gold has been moribund since 2008 after encountering security problems. Oceana Gold has been trying for a couple of years now to attract a strategic investor in the project.

Meanwhile, Villaluna said Philex is continuing to undertake the developing of its Bulawan project in Negros as well as its Silangan project in Mindanao.

Security problems? or cash? The meaning might have been lost in translation.