Still trading at a massive discount to book value. I can understand the discount when the balance sheet was weakening heavily but now it has stabilised and will for the next year strengthen, I see massive upside potential
Does anyone know how much cash is needed to get their o/s mine into production?
If i was a member of the board I would keep the current strategy in place, continue to strengthen the balance sheet and look to get o/s mine into production in a years time when sp is higher (capital raising at a premium to current sp) or use debt when credit markets have eased. Mix of both would be good.
OGC Price at posting:
82.5¢ Sentiment: LT Buy Disclosure: Held