I presume this change of heart by the President is due to a waning of Chinese government influence on him.
OGC's sacking of its workforce may also have played a part in this decision.
I bought a small holding this morning. Its a pure spec play on the assumption that the mine does re-open otherwise I am out.
As I said a while ago, OGC has a lot of debt and capex ahead of it, and we know that the Haile mine has been struggling due to COVID and other issues. There will be some re-start costs at Dipidio, but its been a highly profitable mine and the net cashflow from it would be a contributor in turning OGC's financial position around.
I am not sure if the local governor will still hinder the transport of goods into/out of the mine.
GLA.
loki
OGC Price at posting:
$2.34 Sentiment: None Disclosure: Held