Net zero emissions from operations by 2050??? How do you come up with that when you can't even figure out what your next quarterly earnings will be. You told us that the 3rd & 4th quarter earnings would be better that the second quarter, and instead delivered a record net loss of $96.8 million!! In 2050 the majority of management, and Board of Directors will likely not be with the company, and, given the way Oceana is presently being run, the company itself may not exist by then. Given the company's own projections (*see below) I feel I can safely make that prediction.
Company shares are presently trading half of the book value. Why? Because everybody wants out. No one trusts the present management to deliver. With a gold price around US$1900, the company consistently losing money, company shares losing 2% a day, you just don't know how to run business.
But there is a solution for everything, including this badly run company. Concentrate on selling all assets of the company separately for cash, and distribute proceeds to the owners of the company, the shareholders. Shareholders would receive double the amount of the present share value, and the real kicker is YOU save the climate, no more pollution, no more emissions, a perfect world, and happy shareholders who will not be saddled with having to pay salaries, bankers, directors, productive and unemployed workers, short sellers, governments of the Philippines and El Salvador and the list goes on.
P.S. Just wonder, as an Australian company and Canadia listed, why are there no mines in either mining friendly jurisdiction?
*The following is Oceana Gold's own assessment to be considered by future and existing investors.
The Didipio operation may not recommence production
There is no assurance that the Company will continue to successfully produce gold, that the Company will be able to meet any gold production forecasts, or that it will be able to successfully bring new gold and/or gold-copper mines into production.
The suspension order on the Didipio operation may be executed
Haile's performance may continue to be adversely impacted by heavy precipitation, hurricane and similar weather events
The conduct and results of the 2020 Presidential election in the United States may affect the gold price, as well as financial markets more broadly, and could result in political uncertainty, instability or possibly civil unrest
The Company may not achieve its production estimates, forecasts or guidance
The Company may not be able to generate sufficient cash to service all of its indebtedness
The Company's business requires substantial capital investment and the Company may be unable to raise additional funding on favourable terms
Capital and operating cost estimates may not be accurate
Changes in the market price of gold and copper, which in the past have exhibited high volatility, will affect the profitability of the Company's operations and its financial condition
The figures for the Company's Mineral Reserves and Mineral Resources are estimates based on interpretation and assumptions and may yield less mineral production under actual conditions than is currently estimated
Mining operations involve a high degree of risk and numerous inherent hazards
There is no assurance that exploration and development activities will be successful
Currency fluctuations may affect the Company's costs and margins
Conflicts of interest may arise between directors and officers of the Company
The impacts of climate change may adversely affect the Company's operations and/or result in increased costs to comply with changes in regulation