I don't currently hold this stock, but im interested to hear from those that do, or follow it closely, was the recent SP increase caused by A. The recent worldwide equity weakness and the potential therefore for stocks to tumble and gold to potentially gain B. Just another of the many rollercoaster rides we see with OGC that surely make it one of the best trading stocks in the NZX or C. Something else?
I don't currently hold this stock, but im interested to hear from those that do, or follow it closely, was the recent SP increase caused by A. The recent worldwide equity weakness and the potential therefore for stocks to tumble and gold to potentially gain B. Just another of the many rollercoaster rides we see with OGC that surely make it one of the best trading stocks in the NZX or C. Something else?
I don't hold OGC currently either, but it certainly is one to watch. It can be a manipulated share, but over the short term it follows the US$ gold price.That's what it has done for the last couple of months. During the 2008 GFC, OGC plumbed new lows, but in 2009 onwards it recovered 800% from there, and more recently has strengthened steadily against the gold price, as the company completed the Didipio startup, and more recently took over Newmont's assets in Waihi.
Newmont had a global strategy of retrenching over the last 2-3 years, and had decimated their exploration team at Waihi, just when Glass Earth needed a shot in the arm with the joint Waihi West permit exploration. The Quattro vein might be significant shorter term for OGC, but also there is other gold near the Martha pit they are looking at, plus the largely undrilled vast WKP area, safely up in the remote hills, but close to their main processing plant.
Historically, goldmines in the Waihi area weren't bothered with, unless they held grades of 1oz to 2oz a ton in big seams. Those are bonanza grades now, and mines can be profitable and tidy environmentally, with much lower grades.
Wow. OGC went up 9.3% today, following the US gold price rise and OGC on the TSX overnight. Looking at the trends of OGC vs U.S. gold, they aren't as strong as usual, over the last few months. OGC has generally held its value, and now any bit of gold price rise is bumping it up.
Gold @ US$1168.20 oz now ,up 10.08% ytd .OGC A$3.43 up 28%. ytd. It does look to my uncharting eye like Gold has some legs on it(says he hopefully). Holding OGC,MML,BDR
Should get a big kick again today. Randgold resources up another 10% today in the UK (In fact it's up 50% since late December).
Yep, OGC is at about CAD$3.70 now, following gold with interest. $35 in US$ for gold over a few hours is getting back into the days that pushed gold to $1800 odd. OGC should go over $4.00 in NZ today.
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