Post by
Elvis436 on May 14, 2022 2:23am
Gold crash spoils OGC
OGC has recently made a signifikant high around 3,40 CAD, some indicators marked a top valid for 3 to 6 years - according to my analysis so long we won't see new highs. Even in the case of a stable gold price the net profit for the next two quarters will fall due to lower grades with higher AISC. On top of this the oil price is at risc to double from current prices. As if all this won't be enough, the chart pattern for gold is very negative. At best it will hold support at around 1670 US $, but maybe we will see a drawdown like in 2012 to 1350 US$. So again this stock will disappoint. Compare this to the lackluster outlook presented us, "after some pain it will get better". PAD-problem at Haile solved? No. WKP permission? Keep on dreaming. The lackluster outlook seems to be for the dustbin. The new CEO should have done hedging at 1900 and oil at 90, as we will later see would have been the best.
Comment by
DirkStHouse on May 14, 2022 9:33am
underground mines run on electricity, not diesel.