OceanaGold: good news from the mine

[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/202007...hl15b48f65.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/202007...hl15b48f65.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.