OGC is good value - why such a lagger, page-13

Thanks loki. I checked the annual report and you’re right about the Didipio tax arrangement (although they can claim various deductions against the 60%). I’d have to look into the mining numbers to understand what the AISC could be once they go underground (I assume there is a feasibility study somewhere, perhaps Sedar).

I’m in the same boat as you in that I find it difficult to value OGC due to the state of flux across operations. I view it more as a trading opportunity on a rally or good (or even ok) quarterly report.

Would be good if they were a bit more upfront about the Phillipines operations. It should be quantified in the presentations. The analysts know it but we shouldn’t have to look at the annual report.