Ann: OceanaGold Full Year 2019 Results Presentation, page-3

Yes, Didipio really screwed OGC. I think even putting the mine into C&M is not cheap, apart from long lead time of bringing back the mine back to production, they would have to fork out a fortune to lay off the team. Phillipines government is very corrupted, they might be aming at kick OGC out and re-assign the mine to their own mates. At this stage I feel the mine is pretty much a dead duck to OGC.

BTW, I calculate the gross margin by 448400 x (1360-1061) = US$134 million, way off from EBITDA OF us$214.2. What was the major contribution of the descrepancy?

Also Q4 gold price $1,404 is lower than Q3 $1,414. Why?

No mention of outstanding hedging positions. Anyone in light cares to share?

Lood forward to 2020, with less gold prouction, still high CAPEX without the vision of how much more needed, and cash bleeding in Phillipines, it seems the SP is still dangerous at this point, unless POG rises significantly.