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$2.20 oceanagold corporation

Ann: Trading Halt, page-16

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rae915

4,683 Posts.

169

01/10/20

11:09

Post #: 47770058
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Originally posted by ozner31: ↑

There is more to this, hastily arranged gold prepayment and now a capital raise at a deep discount. Selling up to 83.95m shares at C$2.06 to raise as much as A$181m, on top of the $103m from the gold prepayment. Almost $300m, coincidentally the level of debt.
Feels like production issues at Haile are worse than indicated in the August update. In August OGC indicated production at Haile would be 135-175k oz (wide range). Perhaps they are at the low end of the range? This would take OGC production to the low end of the production guidance of 295k oz. Ouch in terms of cashflow at a time of higher capital expenditure.
Might have a look under $2.20.

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hardly a deep discount to the last share price sale of $2.20
$2.06 CAD = $2.16 AUD
But it does explain the continuous fall in price no matter how much the Gold price fluctuates

OGC Price at posting: $2.36 Sentiment: Hold Disclosure: Not Held
2 Upvote

0 Great analysis

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