Saw this Intersuisse report, thought I'd post it for all the canny investors out there...
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INTERSUISSE MORNING NOTES
NCM, OGC, ADU Buy your own pot of Gold – our top three recommendations
Thar’s Gold in them hills! Friday 13 November 2009
With the Gold price moving over US$1,100 an ounce and talk of much higher figures after major buying by India’s Central Bank and China possibly diversifying its reserves, where do you look for your own pot of gold on ASX?
Of the major Australian gold producers, unhedged Newcrest (NCM) is a stand out with reserves of 42.8 million ounces and annual production of 1.6 million ounces at a cash cost, after copper credits, of $450 per ounce. With expected increases in the price of gold and copper this company is a must.
Of the middle order, Oceanagold (OGC), which had a set back with the development of the Didipio copper and gold project placed on hold in the Philippines, tables reserves of 3.1 million ounces and has also recently announced a significant upgrade of resources at its Macreas project in New Zealand. Together with low cash costs of US$473 per ounce and a recent half yearly profit of nearly US$50 million this is also a buy.
In West Africa consideration should be given to Adamus Resources (ADU) which has compiled a reserve of over one million ounces at its Southern Ashanti project in Ghana. Close to infrastructure this junior is in good company within a world class gold province.
ADU Price at posting:
43.0¢ Sentiment: Buy Disclosure: Held
