Great write up BW.
I just want to add that OGC has multiple mines, one open pit and two underground. It also has a very near term producing mine, Didipio. I talked to the miner who built Grassberg. He told me from what he saw, Didipio really looks like another Grasberg at its young age. The area around Didipio was not explored at all and the geology there is very similar to Grasberg. The company talked about exploration in the nearby area in the CC. Didipio itself probably worth at least 100-200 million IMO, that's more than OGC market cap.
I think in a take over event, a major can buy OGC for 10 CAD and still get a very good bargain, since it can produce 400-450 K oz of gold within 6 months by starting up Didipio.
As for AGT, the Grey Fox will be the major milestone. Without Grey Fox, Black Fox is a good mine, but not great. Its mine life is about 8.5 years probably extend to 10-15 years with inferred. But open pit will only about 5-7 years. Grey Fox supposed to have better historical results. If Grey Fox result is as good as I hope, I don't think AGT will be an independent company by the end of the year unless its stock goes to 2 dollars.
I agree with you OGC looks more undervalued than AGT. AGT and OGC reminded me of my nickle pair, RNO and LIM.to. I owned more RNO simply because it is traded on Amex, same reason for AGT. At the end LIM performed better, may be the same this time as well.
As for GORO, it is a great company, great management. I just don't know the market has accepted news that they will delay the mine and raise more money. Maybe better entry point later this year? Another entry point could be after they finish the first mine. It suppose to be one year only. Look at SGR, it takes years to develop the successful underground mine. Could be the same for GORO. Then the better entry point could be around 2011-12.
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