re: Ann: OGC announces Didipio Gold Copper Pr... Australia's second largest gold producer on an unhedged basis is another beneficiary of the rising price for the yellow metal.
The growth resulted ni the NZ focused gold miners addition to the ASX200 this past week, which means it will attract plenty of attention from institutional investors in the future.
Austock Securities analyst Anna Kassianos believes there is a strong propspect of OGC adding to its reserves and extending the life of its Reefton and Macaes operations in NZ.
"If it can deliver on our reserve growth expections, the stock will re-rate even furher" Kassianos said.
OGC expects to produce between 270,000 and 290,000 ounces of gold at a cash cost of $475 and $495 and ounce.
Kassianos expects the miner to finish the year with $122.6 million in cash.
Kassianos has a "buy" rating on the stock and a price target of $4.65 (until it re-rates further with new growth announcements that is).
Article by Luke Forrestal, FINANCIAL REVIEW.
OGC is rated by Financial Review as the 5th best performer on the ASX this year.
NM.
re: Ann: OGC announces Didipio Gold Copper Pr... Australia's...
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