"So just work on Value of 3 producing assetsDefinitely worth $1 billion AUD in my mind"
Exactly what I wanted to comment on. Actully OGC has 700m shares on float. If that's the case, Col you are talking about valuation of A$1.50/share, which is a long way down to go!
But when I did a rough calculation, based on the latest quarterly and disregard Didipio, the 3 mines production will be:
prod (koz)
aisc (US$)
haile
36.8
1106
waihi
15.3
778
macraes
37.6
1262
Annualised total production 358.8koz, with weighted AISC US$1115/oz. Given sale price of $1400 (OGC has a lot of hedging if memory is right), EBITDA is US$102m, give a PE of 10 would be ~US$700m, equals AU$1b.
This is pretty rudimentary valuation, but indeed gives me a stark view if without Didipio and the other mines are not progressing as forecast.
Why the Philipines injuction appeal takes so long?
OGC Price at posting:
$2.79 Sentiment: None Disclosure: Held