OGD oceana gold limited

a nice quarterly

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    A quicky look at the qtly. OGD has, once again it seems, juggled it’s hedge book to it’s advantage. I wonder what it cost to do it ? Anyway, no doubt the hedge book will be used significantly going forward to take advantage of the higher prices around. I like the merger and believe it will be very positive for all. We must watch the costs as an 18% increase is only good when covered by higher gold prices. This could be fatal if gold falls and oil, gas and electricity don’t. ie Running costs up and not so much gain from gold. Unlikely but worth remembering. More reports like this and 64 cents is gonna look silly. When OGD was in the hands of GRD the management imo always understated and over delivered. I do not see any reason for the culture to have changed just cos GRD is no longer fairy godmother. A very conservative bunch. This OGD report is very likely going to get a lot better. We’re in good and very capable hands. Relax and look forward to a run up to 80 cents. aimho but I may stay on for the ride and not quit with my holiday profits lol. I very much liked what I read. Macraes Mining was one of my initial investments in Ozzy/NZ back 1991 and I did very well thank you very much thro to/with GRD. Could well happen again. Be nice, wouldn’t it ?

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Currently unlisted public company.

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