RE: monday--up again
Althogh OceanaGold has been creeping up slowly in the last few months, it is nowhere near another comparable gold producer Semafo. Semafo's market capitalization based on the Saturday close was $2.2 billion, where as OceanaGold's was only $ 782 million. Semafo is, thus currently trading at 3 times greater than that of OCeanaGold, although OceanaGold's results are likely to be way ahead of Semafo in all major comparable items in the current quarter (the 1st quarter, when OceanaGold does not have to consider hedge loss) - Earnings, Production and Cash Cost of Production. It is surprising that Oceanagold has not moved ahead much in spite of it being included in the S&P TSX Global Gold and Mining index in the last week. It appears investors have still not have forgotten the way OceanaGold has been mismanaged by the previous CEO. Currently OceanaGold has been trading 7 cents less than it closed in Australian Exchange (AUD $ 3.89) today.