Oceanagold delivers Q3 profit!

  1. 5.1k
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    Highlights of OGC Q3 '21

    Didipio's Financial or Technical Assistance Agreement ("FTAA") renewed for 25 years.

    Total Recordable Injury Frequency Rate ("TRIFR") increased from 3.7 to 3.9 per million hours worked.

    Year-to-date ('YTD') consolidated gold production of 256,216 ounces at All-In Sustaining Costs ("AISC") of $1,218 per ounce on gold sales of 276,226 ounces.

    Consolidated third quarter gold production of 79,177 ounces at AISC of $1,200 per ounce on gold sales of 97,445 ounces, including 19,151 ounces of gold sold at Didipio.

    YTD revenue of $536.1 million with adjusted Earnings before Interest, Depreciation and Amortisation ("EBITDA") of $259.2 million and adjusted net profit of $111.7 million or $0.16 per share

    Third quarter revenue of $204.6 million with adjusted EBITDA of $97.3 million and adjusted net profit of $53.0 million or $0.07 per share.

    Total immediate available liquidity of $143.2 million, including $113.2 million in cash and $30.0 million in available undrawn credit facilities as at September 30, 2021.

    Successfully completed transport of Didipio gold-copper concentrate in inventory early in the fourth quarter.

    Commenced underground mining at Didipio, one month ahead of schedule and delivery of underground ore underway.

    Paul Benson appointed Chairman of the Board effective from 1 October 2021.

    Full year 2021 production guidance of 350,000 to 370,000 gold ounces at AISC of $1,200 to $1,250 per ounce sold reaffirmed.

    Scott Sullivan, Chief Operating Officer & Acting CEO of OceanaGold said, "I am very pleased with the financial performance of the business driven by strong EBITDA and profits.

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    Can't believe OGC was thinly traded after releasing yesterday's Q3 results

    OceanaGold Corp (OGC) :

    Q3 NET PROFIT A$53.0 MILLION
    CONSOLIDATED Q3 GOLD PRODUCTION OF 79,177 OUNCES
    Q3 REVENUE OF A$204.6 MILLION
    FULL YEAR 2021 PRODUCTION GUIDANCE OF 350,000 TO 370,000 GOLD OUNCES
    Q3 ADJUSTED NET PROFIT OF A$53.0 MILLION
    EXPECTS A STRONGER Q4 AND 2022
    EXPECTS MACRAES' GOLD PRODUCTION FOR FULL YEAR BETWEEN 138,000 -143,000 OUNCES OF GOLD
    RAMPING UP DIDIPIO COPPER MINE OUTPUT DURING REMAINDER OF 2021/22

    "Patience is a virtue" as they say..

    Cheers tela

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    two motives come to mind

    those with cash reserves being ultra-cautious ( putting any money into the market )

    the other is several gold producers are expanding/accelerating their projects and available cash might be a little thin

    to me the market seems to have a lot of 'churn ' in the last 3 years ( hinting more traders and fewer investors participating )

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    OGC: Outlook Improving On Didipio Restart
    Oct. 31, 2021 1:20 AM SeekingAlpha article

    Summary:

    OceanaGold released its Q3 results last week, reporting quarterly production of ~79,200 ounces at all-in sustaining costs of $1,200/oz.

    The major news was the restart of mining at Didipio, following a 25-year renewal of the Financial or Technical Assistance Agreement.

    With significant contribution from Didipio once it reaches full production, and operations continuing to improve at Haile with a focus on free cash flow, the outlook is improving considerably.

    Given OceanaGold's path towards higher production at significantly lower costs starting in 2023, I would view any pullbacks below US$1.60 as low-risk buying opportunities.

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    release 04/11/21 @ 16:20

    OceanaGold OGC Announces Start of Processing at Didipio !

    Download/read this announcement available on link below

    https://www.marketindex.com.au/asx/ogc

    Cheers tela :)

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  6. 411
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    CleanSpace CSX "Cup and handle" chart pattern on the 6 month chart. Handle now complete....CSX is ready to blow!!!

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    Nice move up with OGC trading @ $2.66 +5.98%

    Reckon 1 year "cup & handle" on chart beginning to play out imo

    https://asx.swingtradebot.com/equities/OGC:ASX

    Cheers tela :)

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    OGC doing nicely @ $2.75 +5.36%

    https://asx.swingtradebot.com/equities/OGC:ASX

    Cheers tela :)

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    OGC resistance wall at $2.80 is crumbling.. then $3+ coming soon! :) dyor

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    Gold up overnight to US$1,852 +1.16% equates to AUD$2,519 +1.46%

    OGC headed to $3+ in quick time! :)

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    AUD Gold up +1.25% overnight :)

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  12. 120
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    tela,

    DEG could be one to watch if it can penetrate it's triple high resistance area.

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    Thanks DH Karlos re: DEG as I'll check it out/added to watchlist.

    To return the favour, watch RRL as seems "quite undervalued" compared to it's larger peer's within Gold sector. Don't see much downside whatsoever imo around the $2 level dyor

    https://asx.swingtradebot.com/equities/RRL:ASX

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  14. 81.7k
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    i already have a fair few ( for me ) RRL

    i would need a price below $1.80 .. say $1.75 to tempt me to buy extra

    ( not saying you are wrong tela , i just need it cheaper to open up the wallet again )

    cheers and good luck

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    I haven't owned any DEG for a long time but I did very well in it's original run-up. I didn't participate in it's second run-up but I'm watching to see if it can have a third one.
    The price would need to make a 3rd higher high which at this stage is asking a lot. I think it would take a market crash or something similar.

    I have never been interested in trying to buy anything cheap just because I like it. It's much more important to like what the market likes and that is shown when you see a long length of higher highs and higher lows on a chart. Quite often a buy signal is given. This can be as simple as a 3rd bounce up from an ascending trend line and preferably on good volume.
    So you buy into something that is happening now, rather than what you think will happen later. If you cant wait, then there are other sectors to consider. Lithium for example but I have noticed that red rodent's ID on this so don't listen to him or this Karlos 68 person who sucks up to him and that includes his sock puppet Puss 'n Boots.

    I prefer silver to gold but the US "Federal" Reserve choose that because it's thinly traded, so they send their principal dealer, JP Morgan Chase, to the futures markets to short it and because they hold a monumental amount in both bullion and coins, they can claim they are hedging. You have probably heard trendlines talk about this on this forum before. I wonder where he has gone. A very knowledgeable mentor to follow but I'll admit I'm biased.

    Will there ever be a successful silver squeeze? Will people ever see Santa Claus climbing up and down chimneys? I say no to both.

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    i haven't found an attractive ( to me ) silver play unless you count S32 , most of my silver producer exposure is as a by-product of miners focusing on a different resource

    i guess i will keep to physical silver in the foreseeable future

    watch the production costs , the big players need to keep the prices low because of the leverage they play with ( only industry and a few retail holders want the real thing )

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  17. 120
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    Yes, as I have said before, the silver mined in Australia is a by-product of copper. lead, zinc and gold and I suggested if people think silver has a future but consider holding bullion is too conservative, and I am one of those, then they could look at Canadian companies who have their projects in Mexico.
    You will find that the Canadian Billionaire Eric Sprott has financed some of these companies. From what I can see he seems to make a success of the things he invests in. He is into uranium now and is succeeding, but the volatility in these stocks is enormous and therefore there is no way to even have a trailing stop loss without being whipsawed out of positions, even sometimes on a daily basis. Also I like to trade using basic TA and that's impossible to do in a situation like that.

    I bought one of the silver companies Sprott finances, SLVR, Mainly just to see how it went. I have sold it now as I believe it's not the right time to buy PMs. Too many of these "gurus" like Schiff, Rickards, Malone, Morgan, (not JP) Wagner and others sell the stuff or have a financial interest in seeing the price go higher.
    Look elsewhere till if and when, at least that resistance line on silver gets penetrated. $31+ p/oz should be ok and even then you need to choose companies that are not too effected when that parasite called the Federal Reserve manipulates the markets. In my opinion it's not worth it, especially when there are other choices available now.

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    i like my physical REALLY close

    now sure i have some old coins and cutlery ( and some other stuff ) ( a buddy prefers bullion )

    but i try not to have a 'pot of money ' a government can target ( like put the squeeze on the storage facility , and banks with safety deposit boxes )

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    something to watch will be if industry finds a silver substitute if prices rocket ( remember safety concerns made some industries use silver instead of lead over the last 50 years )

    maybe elevated spot prices would cause some to shift from silver

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    i have been carefully buying producers as i expect the currencies to fall in relation to resource prices but of course that is investing NOT asset protection ( which physical gold and silver can be )

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    Lovely bullish "hammer candlestick" made yesterday & AUD Gold @ $2,510 +1% overnight

    https://asx.swingtradebot.com/equities/OGC:ASX

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