$2.31 gap was a reasonable place to park, but i added more at $2.34 to be safe.
LGL rejection of NCM and POG moving up $10/oz, plus OGC announcement that being unhegded will result in cash operating margins increasing by approximately 200% compared
to recent margins.
So everything aligned at once for todays surge.
Based on 300koz /pa
US$1080/oz revenue
US$465/oz cost
AUD$ 0.92
I estimate EPS at approx 49.4 cents.
Applying PE of 10 is not unreasonable, hence my share price target $4.90.
Also lets not forget Didipio (as posted by hammerhead1) "Mark Cadzow also reportedly said that several companies had expressed interest in a joint venture on Didipio but no move would be made until Oceana has completed an evaluation on the project."
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