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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: LoneClone who wrote (77813)	4/29/2022 2:59:45 PM
From: LoneClone	of 78405

Oceanagold aka OGC has been on a tear lately, and with the release of their Q1 results we find out why. Halle in the US, Didpio in the Philippines, and Macraes in New Zealand all exceeded expectations, Halle very much so, leading to Q1 production of 134k oz Au & 3.5kt Cu, well above expectations, with costs coming in well below expectations. As a results they generated $63M in free cash flow and $79M in profits, allowing them to substantially pay down their debt while increasing their cash stash by over $60M to $195M. OGC also reiterated their annual guidance, which since they outperformed in Q1 means they are either planning on under-promising and over-delivering or that they expect some difficulties later this year. I suspect it is a combination. Message 33823004 FWIW, BMO as a result kept OGC at Outperform but raised their target by 50 cents to $3.75, while RBC kept them at Outperform but raised their target to $4. Alas, I never did get around to adding to my OGC shares while they were down in the dumps, something I now regret.

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