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Rio Alto (RIO.v) looking strong
Ramping up production now with a very good forecast.
Looking good!
:)
/g
Even though they produce at 70% at EVBC, the gold feed grade is lower (compared to the 43-101) since the lower grade skarn accounts for ~90% of the ore mined (instead of ~70%). I think Agne mentioned that during the presentation. So produced gold is not 70k oz at the moment, hard to say how much though since we don't have the exact numbers.
And I also believe they said UMZ will need another couple of months to reach target.
Don't get me wrong here, I think it will be fine, but it might take a little bit longer than expected.
Best,
/t
Orv conf call:
They needed some money because of delayed cash flow from UMZ. Didn't want to do a PP at these leves. UMZ up and running now and EVBC running according to plan (late may).
CF starts in July.
Phew...;)
Orv.to getting killed today
I never thought we would see these levels again. Lucky to have a small buffer. Overreaction imho.
Good things do come to those who wait.
Re: mining companies
Orvana's numbers are strong to say the least. I met them recently and in ~6 months they will produce around 100k oz au, 250k oz ag and 8M lb cu. They are looking to increase both production and reserves and are also looking to aquire another 100k gold project to increase production further. Haywood estimated an eps of 0.60 for 2011 and 0.79 for 2012. SP today is 2.59. And then we have Copperwood...
Gets my vote.
imho
/g
OGC.ax/OGC.to/OCANF.pk - some thoughts for the weekend :)
I'd like to share some of my thoughts about Oceana. I assume you all know the basics. (For those of you who havn't seen their Denver presentation, you should. Jim Askew (chairman) makes a very inspiring presentation including some future plans.)
1) They still maintain their production and cash cost estimate for the year. That means that their production should be slightly higher during H2 compared to H1 (they produced 133k oz H1 which means they should produce around 150k oz H2). But the most interesting past is the cash cost. Since their cash cost was around usd 557 for H1 and they maintain their estimate of usd 455-495 for the year (Jim says at the higher end) it means that cash cost for H2 should be around usd 430! With those numbers, Oceana will be a fat money maker this fall.
2) They're gonna drill 25000 m during 2010 to increase reserves and they aim to reach a reserve base of 7-8 years for their 3 NZ mines. One is alread there, and the other two on the way. This means that they have a solid LOM for all their 3 NZ mines. (Maybe not a surprise, but still nice to hear.)
3) Their recent Didipio update also gives us the growth and some amazing numbers. During the first 6 years of production, it has a negative cash cost of usd 331 thanks to copper credits. This means that the cash cost of their ENTIRE production will drop to ~usd 330 and their production will move to around 350-400k oz starting at 2013. That's very impressive numbers folks.
Oceana has it all, it's a producer and will make a LOT of money in the near future because it benefits from the current high prices of gold. But with Didipio
it also has an attractive growth profile with stunningly low cash cost.
I have a hard time finding something with a better risk/reward ratio at the moment.
I wish you all a great weekend ladies and gentlemen.
:)
/g
Re OGC:
Lol, they'll be producing gold at around USD 1600/oz with that cash "cost". Should boost their figures some. :)
Re Orvana: Haywood rec today, 3.8 CAD...(eom)
Re OGC.to
u bet!
Re orv.v
It's still undervalued though I'm not sure whether it's a good time to enter right now since it's been doing quite good lately.
Still a lot of upside in a years time.
imho
/g
Assuming gold prices remain strong, OGC.TO
Cheap compared to peers.
imho
/g
Re OGC results, my 5 cents
EPS is lower than I thought, but the tax seems unusually high here, maybe some hedge issue? OK prod, CC high, though their production guidance for the full year still is maintained (as you write), recovery very good.
All in all a decent report (especially considering the recent selling pressure), though we'll have to wait for H2 for the great numbers.
A good entry point here imho.
Best,
/g
Re OGC.TO; Baker Steel is selling
They claim to be too heavily invested in OGC and need to balance their portfolio.
Time will tell.
/g
Orvana Minerals; ORV.TO signs financing deal
They now have the money (and more) for the EVBC gold project in Spain. This one is seriously undervalued when you plug the numbers in imho.
link
/g
Orvana Minerals; ORV.TO. Good 43-101 Technical Report
Pretty good numbers (IRR 158%) imho.
link
OGC included in S&P/TSX GLOBAL GOLD INDEX
& S&P/TSX GLOBAL MINING INDEX effective on June 21st.
link
Very positive of course, also worth to mention is that SMF (Semafo) was added about a year ago with a share price around C$2...
OGC: New presentation
cheap cheap
link
Sodra raises price of pulp
Swedish forest products group Sodra raises the price of pulp (NBSK) with 20 USD per ton to 980 USD per ton effective from 1st of June.
“The pulp market continues to show strong demand and the pulp inventories are still low."
Swedish paper strike: The parties have agreed on a deal.
No more strike that is. :)
Swedish paper strike extended Monday 26th now affecting 12 mills in total.
Swedish paper workers on strike in Sweden starting today (Friday 16th).
Affecting six paper and pulp mills immediately. If the parties can’t agree on a deal, the strike will be extended on April 26th to another 6 mills. Sweden accounts for around 8% of global pulp production.
OGC closes out hedgebook.
www.newswire.ca/en/releases/archive/March2010/31/c6793.html
OT: New to the board
Have been here for a short time reading, and must say I really like what I've seen so far. Very good information combined with a humorous/warm tone. I hope I can contribute with something as well.
GL to you all and have a great weekend.
:)
/g
OGC: PP approved.
PP approved