today's share price drop, page-20

$2.31 gap was a reasonable place to park, but i added more at $2.34 to be safe.

LGL rejection of NCM and POG moving up $10/oz, plus OGC announcement that being unhegded will result in cash operating margins increasing by approximately 200% compared
to recent margins.

So everything aligned at once for todays surge.

Based on 300koz /pa
US$1080/oz revenue
US$465/oz cost
AUD$ 0.92

I estimate EPS at approx 49.4 cents.

Applying PE of 10 is not unreasonable, hence my share price target $4.90.

Also lets not forget Didipio (as posted by hammerhead1) "Mark Cadzow also reportedly said that several companies had expressed interest in a joint venture on Didipio but no move would be made until Oceana has completed an evaluation on the project."