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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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From: diddlysquatz2/19/2009 12:12:10 PM
   of 78419
 
OGC.V.... from my back of envelope math it looks like this company is trading at just over 1 time annualized Q4 cash flow.

oceanagold.com

HIGHLIGHTS

- Sold a Life of Mines record 74,816 ounces of gold during the fourth quarter, a 19% increase over the previous quarter (Q3 2008).
- Increased annual gold sales by 49% to 264,124 ounces compared to FY2007.
- Achieved EBITDA (earnings before interest, taxes, depreciation and amortisation but excluding gain/loss on undesignated hedges) of $24.3 million for the fourth quarter and $66.1 million for FY2008. This compares to FY2007 EBITDA of $8.7 million.
- Reduced cash costs in the fourth quarter to $416 ($307 after year end adjustments) per ounce which represents the lowest quarterly cash costs for the 2008 year and was due primarily to increased gold sales and declining consumable costs.
- Commissioned the Frasers Underground mine - the Company's second new gold mine in New Zealand (NZ) in the past two years.
- Exceeded design throughput rates at the Reefton operation and processed 27% more ore than plan in the fourth quarter.
- Completed 60% of the bulk earthworks and detailed design for Didipio before temporarily placing the project into care & maintenance pending completion of a project redesign to reduce capital requirements.

* All statistics are compared to the corresponding 2007 period unless otherwise stated. OceanaGold has adopted USD as its presentation currency, the financial statements are presented in USD and all numbers in this document are expressed in USD unless otherwise stated.
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