Legume...OGC reports "Cash Operating Cost" and "Total Operating...

Legume...

OGC reports "Cash Operating Cost" and "Total Operating Cost"

Cash Operating Cost is the equivalent to RMS quoting "Cash Cost"

OGC cash cost was reported as US$473 and US$485 for Qtr 3 and Qtr 4.

Total cost is depreciation and amortisation included, which is assists from a tax perspective.

Todays sell down is no different to any company that has done a capital raising. Also US raising rates 0.25 casted a gloom over the market. POG got hit.

Am i happy about the capital raising,,,no, but with only 185mil shares on issue it can accommodate it.

Capital raising for those that are interested was primarily for strengthening the Companys balance sheet.

The price got smashed? yes, but over what period?

SP 1st Feb hi $1.83 lo $1.66
SP 8th Feb hi $2.02 lo $1.98
SP 4th Jan hi $1.86 lo $1.795
SP 1st Oct hi $1.09 lo $1.035

The spike over $2.20 was never sustainable, good luck to those that took profits above that mark.

Hedge removal and the taking dilution into account, using current FX rates and POG will add approx 17.0 to EPS, for a total of approx 0.49 apply a PE of 8= $3.92 price target.

Note: i am guessing the amount shares to be issued at a total 70mil, as i don't know what Macquarie Private Clients are going to take up.