Ann: OGC Announces Second Quarter 2012 Results , page-2

re: Ann: OGC Announces Second Quarter 2012 Re... Another pathetic quarter from their NZ operations with no real net cash generated as it was all sunk back into new plant and equipment.
So the bank balance went south during the quarter by $50mil to finance the development of Didipio in the Philippines.
Management needs a big shake up here - even the 19% increase in the construction cost of Didipio within a year of the estimate being given is unacceptable especially in a place like the Philippines that doesn't have the same cost/labour pressures as Australian mining operations.
No wonder this shareprice is down.