My view on the present situation is that the market response so far is okay without it being outstanding. What you have to remember is that OGC's share price on the ASX got down to a low of about $1.86 or thereabouts. several months ago (In fact $1.80 on Tuesday 2 March 2021). It then began a slow climb during the first half of the month before going into decline again and reaching a low of $1.84 on 31st March. From that point it began a fairly steady rise to reach a new peak of $2.38 by 22 April. In my view a lot of that rise was related to more positive comments about the status and progress with FTAA negotiations which had passed through the first major hoop and was being passed up the line towards the President's Office. So yes there should be a bit of a rise today on the ASX now that the FTAA has been officially confirmed but a lot of the rise through April was recognition that things were proceeding positively albeit very slowly. So a FTAA renewal was being factored in during that April/May period as OGC's share price improved from the March lows. What needs to happen now is news coming out in the next few months of better than expected progress on getting things back in place at Didipio and some indication on what gold and copper production they are getting from the stockpiled material that they can now start dealing with. The other thing would be a good increase in the POG. That would then see OGC's share price appreciate upwards towards $3 at least. All IMHO
OGC Price at posting:
$2.46 Sentiment: Buy Disclosure: Held
