Ann: OGC Announces Robust Financial Results, Declares Dividend, page-6

What a great set of results. The conference call was so good I listened to it twice. FD I am way overweight.
My view on con call highlights. While the stock has rerated somewhat it is still strong value with a number of upcoming catalysts which are not yet incorporated in current models or sentiment including :-
1. All clear at Didipio with MW indicating that with very positive feedback on the audit that they are very confident that the process will see OGC in the clear with expected formal news not far away. ie the current news reports are accurate. Continued ramp up of Didipio underground.
2. Updated resource and drilling update for Waihi expected shortly. 10 year mine life and they have very high confidence in extensive Waihi resources. MW suggested that the resources at Waihi are " a lot more than the street attributes".
3. Expansion of Haile and permitting which would raise Haile to 200,000 pa producer
4. Macrae mine life extension beyond 2021. Again high confidence.
5. Continuing positive news and results from WKP project (not in valuations).


Management- Came through very strongly as confident, professional and in full control of the operation and direction. Good team dynamics.Some excerpts
" only starting to see the share price performance (rerating) " .
"We have a desire to return portion of profits to shareholders- a balanced business" means more and I suspect larger dividends.
" We are operating in prolific gold belts"
"OGC has one of the highest FCF yield of any gold companies".