It will be a good quarter as to tonnes mined as there is no evidence of any mining issues.
However, there was a reline in the quarter that took around two weeks or 16% of the quarter so actual gold poured must be down by at least 10% I would guess. This is required every two years so that is behind us.
A combination of lower NZ gold price, reduced production and some higher input costs such as deisel probably means Q1 will not be matched.
Still gold grades should be better than average and the extent of the higher grade + thickness new U/G seam should be further quantified.
With the size and cost of production of OGC with a major project with sunk capital ready to take to production OGC at these prices must be on the radar.
OGC Price at posting:
$1.12 Sentiment: Hold Disclosure: Held
