OceanaGold Corp T.OGC

Alternate Symbol(s): OCANF

Metals & Mining Gold

OceanaGold Corporation is an intermediate gold and copper producer. It has a portfolio of four operating mines: the Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand. The gold, copper, and silver it produces are essential to the renewable energy and transport sectors, life-saving medical devices and technology which connects communities around the world. The Didipio gold and copper mine is in Luzon, Philippines. It produces gold and silver as dore bars and copper in concentrate. The Macraes Operation on the South Island of New Zealand is an active gold producing mine. The operation includes a large-scale surface mine, an underground mine, and an adjacent process plant inclusive of an autoclave for pressure oxidation of the ore. Its Waihi Operation in the North Island of New Zealand is an underground operation. The Haile Gold Mine, located in Kershaw, South Carolina, is a gold mine on the East Coast.

TSX:OGC - Post by User

OceanaGold Corp

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Post by bucky32on Mar 02, 2011 3:54pm

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Post# 18221125

Gold Report

I have owned a gold stock called OceanaGold Corp. (TSX:OGC; ASX:OGC) for a fairly long time. In early 2009, I got in at around
.40, and I still own a very large position in it. The stock has not been doing very well over the past few months because the company raised money to build a Philippine mine, and the market didn't take it well. That brought down the stock quite significantly in just a few months.

I have been adding a little more stock to my already large position, partly because they have a very stable 270,000 oz. (Koz.) per year operation in New Zealand. Potentially, the cash costs can come down next year, but at current gold prices they are generating a huge cash flow. Plus, it has this new mine in the Philippines coming on, and the company can dramatically increase its gold production and reduce costs because the cash cost is below zero if it's getting credit for the copper.