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.
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/philip...drigo-duterte/ but strongly supporting extrajudicial killings (http://www.aljazeera.com/news/2016/0...070010316.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.
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"Prediction is very difficult, especially about the future" (Niels Bohr)
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.
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-ne...ter-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?
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"Prediction is very difficult, especially about the future" (Niels Bohr)
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?
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.
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..
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.
Originally Posted by theace
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