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Oceana Gold, OGC



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By Bobwins

Posted: Wednesday Oct 13 7:58:14AM 2010

OGC.to/ocanf.pk +.24 to C$3.96 Oceana had a selloff after the recent surge to C$4. Coming back today. No news but gold is strong at $1373 and OGC is producing about 290K oz this year. Now that hedges are gone, cashflow is huge. Assume 72,000 oz of gold per qtr and $500 cash costs. With $1300 gold, you get cashflow of 57million per qtr! This still has room to double triple from here. Solid producer that will be showing big gains in cashflow and eps in the next few reports. With that much cashflow, they can fund Didipio project by themselves. Could be in production by 2013 and add another 100K in gold and millions of pounds of copper to OGC production.

By Bobwins

Posted: Thursday Jun 17 6:22:33AM 2010

OGC.to/OCANF.pk C$3.29 Oceana is my biggest gold holding. I have been in and out of it for a couple of years. Last year OGC did a big financing and bought out their ugly gold hedges that paid them only $700 per oz of gold. Production has been substantial at 280-300K oz for several years. Production is from New Zealand so politically very stable. 3 mines and very aggressive exploration program to increase ozs. Since removing the hedges, ogc has marched steadily upwards. I expect good improvements in eps and cashflow. Q2 should be good with improvements in the second half of 2010. With the PP, share count has climbed but 280K oz of gold generates tremendous revenues. $84million gross per qtr. http://www.oceanagold.com/images/documents/presentations/100503_may_2010_ogc_corporate_presentation.pdf I still think there is big upside to Oceana. Bought for relatives this week.

By elephant

Posted: Friday Jul 31 1:04:47PM 2009

I see.You are very well inform too. I have some concerns about the latest management change... Why? Maybe we will know something later... Stock options could have been very lucrative for him but he prefer to quit for other business opportunities...why?? very strange...

By Bobwins

Posted: Thursday Jul 30 10:35:46AM 2009

OGC.to/OCANF.pk +.10 to C$.98, recovering recent losses. Q2 results Sold 75,319 oz of gold, 156,412 for 6 months Cashflow of 20.4 million vs 24 in Q1 Big hedging gains of 50 million before taxes EPS .21 with hedging gains after taxes EPS .028 without hedging gains. Still dirt cheap for a profitable producer

By Bobwins

Posted: Tuesday Jul 21 7:41:55AM 2009

OGC had a nice run to C$1.11 but......... they issued a PP for 24.2 million shares at A$1. Going to use the money for exploration around two of their New Zealand mines to increase reserves and mine life with unhedged oz. They also posted a preliminary of Q2 Production 74K oz Cashflow 20 million Cash Costs ~$420 These compare unfavorably to Q1 numbers of: Production of 84K oz Cashflow of 23 million Cash Costs $279 Mine was shut down for 3 weeks for maintenance so company is confident they will hit 300K oz for 2009. Cash costs up due to strength of NZ$. Cashflow should still be around .09-.10, which is very cheap for a medium producer selling at C$1.04. Production should move back towards Q1 levels without production interruptions. Bobwins

By Bobwins

Posted: Wednesday Jul 8 10:52:32AM 2009

OGC.to has been weak lately and today dropped big. Down to C$.87 or -.10 at the worst. Silver stocks also weak, with SLW and FR.to down more than 5%. FIU.to continues to fall. Looks like fear is coming back into the market. Bobwins

By Bobwins

Posted: Tuesday Jun 2 7:17:14PM 2009

US dollar sagging. Gold stocks strong. OGC.to popped to C$1.25 today in Canada and up .14 more in Australia tonight. Lots more upside for OGC. .05 eps and .12 cashflow in Q1 should lead to a C$5 to C$6 price if OGC continues on that same kind of pace. Lots of room left but, of course, OGC, needs to continue that breakout performance from Q1. Bobwins

By Bobwins

Posted: Tuesday May 26 12:13:27PM 2009

Here is an Australian news article about the CEO leaving. Difference of opinion with the board was probably over how to handle remaining big partly developed project. He probably wanted to finish it and the board may have wanted to sell part or all of it, rather than dilute the shares to finance the much bigger costs that have developed. Bobwins http://business.brisbanetimes.com.au/business/best-results-not-good-enough-for-oceanagold-20090525-bkun.html

By Bobwins

Posted: Monday May 25 7:39:01AM 2009

Ugh! OGC.to -.09 to C$.97. Company posted PR saying that CEO is leaving at the end of June. No explanation why. Big selloff at the open down to .82. Only 83K traded. Company looking at restarting big copper/gold project in Philippines with lower capex. Bobwins

By Bobwins

Posted: Thursday May 21 1:06:00PM 2009

Wow!~ +.20 to C$1.09 Looks like somebody did a little painting the tape at the close but still a great day! Still undervalued. .05 eps and .12 cashflow for Q1

By Bobwins

Posted: Wednesday May 20 9:12:07PM 2009

OGC.ax up .14 to A$1.065 on 1.24 million shares in Australia overnight. Hoping for something similar in Canada tomorrow. Bobwins

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