Oceanagold Corporation Going Places

As we can see from the above chart this stock has been making pretty good progress of late, as each news release brings more good cheer to their investors.

For example 18 January 2010:

(MELBOURNE) OceanaGold Corporation (OGC) is pleased to announce an increase of 259,000 ounces of gold to the mineral reserve inventory at the Macraes mine in Otago, New Zealand, which extends the mine life out to at least 2016.

These reserves are in addition to the Company’s December 2009 announcement of an increase of 495,000 ounces of reserves. When combined, this brings the total additional gold reserves at the Macraes mine to 754,000 ounces.

The Company’s assets encompass New Zealand’s largest gold mining operation at the Macraes goldfield in Otago which is made up of the Macraes open pit and the Frasers Underground mines. Additionally on the west coast of the South Island, the Company operates the Reefton open-pit mine. OceanaGold expects to produce approximately 300,000 ounces of gold from the New Zealand operations in 2009. The Company also owns the Didipio Gold-Copper Project in northern Luzon, Philippines.

OceanaGold Corporation (OGC) is a significant Pacific Rim gold producer, with a diverse portfolio of operating, development and exploration assets. Assets are located on the South Island of New Zealand and the Philippines.

This company has a market capitalization of $397.78 million, with a 185.88 million shares outstanding, a 52 week low of $0.28 and a high of $2.14 and a P/E of 8.14.

Don't that you cant find it they are appearing on a screen near you, OceanaGold Corporation trades on the Toronto Stock Exchange as OGC and the same on the Australian Stock Exchange and the New Zealand Stock Exchange.

We don't own it yet but we are taking an interest and looking for a suitable entry point, however you cant always get a 'dip' just when you want one.


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Comments

[Gold Prices]

OceanaGold today released its Fourth Quarter Production Report for the quarter ended 31 Dec 2009 and updated Resource & Reserve Statement.

Gold sales of 72,140 ounces for the quarter brought the total for FY2009 to a record 300,044 ounces, a 14% increase over FY2008. Gold reserves in New Zealand now total 1.94 million ounces with total resources of 3.78 million ounces (measured and indicated) and 3.01 million ounces of inferred.