OceanaGold (OGC-T)

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Thu, Oct 13, 2011 - 12:28am
mouser
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Some minor news on OGC

13 October 2011

OCEANAGOLD ENTERS INTO AGREEMENT ON SAMS CREEK PROJECT

(MELBOURNE) OceanaGold Corporation (ASX: OGC, TSX: OGC, NZX: OGC) (“the Company”) is pleased

to announce that it has entered into an agreement with MOD Resources (ASX:MOD) on the OceanaGold

100% owned Sams Creek Project located near Takaka in the South Island of New Zealand.

2
The Sams Creek permit covers 30.6 km and contains a JORC compliant inferred resource of 13.5 million

tonnes @ 1.78 g/t Au for 770,000 oz Au. Sams Creek was discovered in 1974 by CRA Exploration (now

Rio Tinto), which conducted extensive exploration in the 1980s, including 46 diamond holes for 5,847

drilled metres. In 1991, CRA Exploration sold its New Zealand gold exploration assets, including Sams

Creek, to an entity now owned by the Company. The last drilling program undertaken at Sams Creek was

in 2004.

Under the terms of the agreement, a 100% subsidiary of MOD may earn up to 80% interest in the project

by solely funding staged exploration programs. Additionally, subject to certain future outcomes and

appropriate approvals, MOD will also issue either 10 or 17 million ASX listed ordinary shares of MOD to

OceanaGold Corporation for nil consideration. At the October 10th closing price, this equates to script

valued at A$1.6 million (on a 10 million share placement) or A$2.72 million (on a 17 million share

placement).

Mick Wilkes, Managing Director and CEO commented, “We are pleased to be partnering with MOD on

Sams Creek and will work with them as they advance the exploration programs. Undertaking this

transaction is consistent with our strategy to unlock value within our current tenement holdings and to

maintain our exploration focus on the two most significant gold districts in the South Island, Macraes and

Reefton.”

- ENDS -

For further information please contact:

Ms Nova Young

Investor Relations Officer

Tel: +61(3) 9656 5300

or

Mr Darren Klinck

Head of Business Development

1

Thu, Oct 27, 2011 - 2:33am
mouser
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Oceana earns 10.9 MILLION $ US in Q3

https://www.kitco.com/pr/2225/article_10272011012825.pdf

An improvement over last Q and looks as tho OGC will produce about 240,000 - 250,000 ozs of gold this year from their New Zealand operations. High cash costs nearing 1000$ an oz.

Profitable, at these prices. Didipio will improve their overall picture substantially as the estimate is for negative cash costs for gold there after copper credits. Seems OGC not getting a lot of value just yet for that growth. I do not see many profitable gold miners with over 200,000 ozs of gold produced annually trading under a billion $ never mind under 700 million.

Thu, Oct 27, 2011 - 6:28pm
Stoxxman
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We stream OGC every day

https://pennystockjournal.blogspot.com/2011/07/oceanagold-corporation-ogct.html

OceanaGold Corporation - OGC.t is a gold producer from 3 mines on the South Island of New Zealand and is developing the Didipio gold-copper project, located in northern Luzon, Philippines.
Thu, Oct 27, 2011 - 9:48pm
kjm
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Profitable or not, I wouldn't

Profitable or not, I wouldn't even consider investing in a company with cash costs like that. And its not like its just a one time thing........their quarterly costs are trending up and their production is trending down.

Here's a little blurb on them.....just scroll down a bit

https://incakolanews.blogspot.com/

Fri, Oct 28, 2011 - 1:00pm
LongGoldLongSilver
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Not good, still great

Oceana has major leverage to the price of gold despite high cash costs. They have $200 million in cash and make a net profit each quarter.


https://www.economicfreefall.com/2011/10/oceana-releases-third-quarters.html

Fri, Oct 28, 2011 - 1:22pm (Reply to #26)
mouser
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Trending down

I guess you must have missed the part about DIDIPIO coming online?

They will be adding 100,ooo ozs of gold and 60,000 tonnes of copper production from there within the next year, AND at negative cash costs for gold. As far as the NZ operations go, they have trended down in the past year, BUT are still on track to produce 240,000 ozs of gold this year.

Very short term outlook saying their production is trending down.

Compare them to the likes of LSG , or a host of other with similar market caps, who dont have the resources and reserves , production, or good profits. OGC still trading at a very reasonable multiple to earnings and growth.

How many 240,000 oz gold producer who make 10 million a Q and have that kind of growth coming onliine can you list , that are under a 700 million $ market cap?

Mon, Oct 31, 2011 - 9:42am
LongGoldLongSilver
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A No Brainer!

...Not many, but I guess you weren't asking me?;)

https://www.economicfreefall.com/

Oceana Gold has been showing strength lately and is back above the 200-day moving average. It's still in a broader consolidation pattern though and needs to break out to the upside to get some real momentum going. The long-term chart displays a 5-year cup and handle in the making and as gold continues to perform the odds are in favour of OGC rocketing higher in the future.

randomness