re: Ann: OceanaGold Announces Third Quarter 2...
Everything I could find on winds and rainfall this morning point to OGC’s Dipidio mine being in a part of the Philippines fortunate enough to escape the worst of what turned out to be a very strong typhoon which has now passed through the Philippines and is on its way to Vietnam. It is now being reported as possibly in the top 10-15 strongest this century.
Very interesting and surprising to see that despite the POG getting hit like that last night, the HUI and the GDXJ both finished on their highs and both actually finished up on the previous days closes by 0.6% and 0.7% respectively. Perhaps the market is expecting that the POG has just put in another near term low and is ready for another rally again. It's currently neither in uptrend nor down trend but rather it's formed a trading range and is now near support so more likely to recover again from here or at least that appears to be what the market expects judging by the HUI and GDXJ strong intraday recoveries and closes.
Hopefully OGC follows the HUI's lead and finishes up, possibly after a weaker open. It might even outperform the HUI significantly on relief of the typhoons centre staying well away from Dipidio.
OGC Price at posting:
$1.83 Sentiment: Buy Disclosure: Held
