Ben Kramer-Miller
Gold & precious metals, macro, research analyst, deep value

Buy Oceanagold For Its Didipio Mine

This article is about Oceanagold Corp. (OTCPK:OCANF). Oceanagold Corp. is a gold mining company with a market capitalization of just under $500 million. It currently operates three mines - Macraes, Reefton, and Didipio - in New Zealand and in the Philippines.

The company trades at a very low multiple to its estimated cash flow (between 4 and 7 depending on the company's costs and total gold production). However there is a good reason for this. Its two New Zealand properties are seeing declines in production, and they are expected to stop operating in a few years.

Ultimately if the company is able to reverse its production declines through either acquisitions or through exploration then it should be...

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