There few things on the horizon affecting sentiment.
Strong Aussie dollar is one of them, that is why it was a clever move to pay large sum of the profits from the fourth quarter alone to reduce debts and strengthen the balance sheet.
The market wanted confirmation that the guidance would be achieved and Haile is a commercially profitable mine and they have got what they wanted.
The rise on the Canadian stock exchange was modest because the big news tonight about the US government debts and likelihood oh government shutdown. I think it will be sorted out, but gold is consolidating for the next leg up $1400 plus.
We are still waiting on the announcement of petroyuan.
Finally, the Chinese New Year next month and will coincide with the audited results announcement and that will drive OGC further up.
All I am saying, the uncertainty about OGC is gone and a bright future to $6 is on the card.
Cheers, my 5 cents worth for the day.
Enjoy the Green Day.
Sydney
OGC Price at posting:
$3.23 Sentiment: Buy Disclosure: Held