The last quarter represented a perfect storm of negative factors for OGC and so a simple calculation using run rates would indeed suggest over valuation. Shutdowns in NZ operations, together with COVID impacted effect at Haille caused an awful last quarter - the question we are all asking as shareholders is can the promised correction in Q4 be relied upon which will boost revenue and reduce AISC even without Didipio. For me the share price has fully factored in the closure of Didipio but I know others think differently. This management team had an unblemished record of making guidance until recently so for me they deserve the benefit of the doubt....sceptics out there (or shortest) promote a different point of view.
OGC Price at posting:
$1.85 Sentiment: Buy Disclosure: Held
