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The total loss of Didipio was probably priced in back in August. The company is worth much more even without it. Compare revenue loss with price of stock loss. This is a win if Didipio never comes back, and big win when they do. The stock is on sale and may be even further reduced due to black swan (or B.S.)
@Taylor Dart. I took a small position in Oceana few days ago (slightly below $2 (CAN), however I thought AISC would come below their actual results. Since gold cooperates and the company is highly leveraged to the gold prices I consider it as a trading position for now. Good objective, article. Regards.
another well written article Taylor...do you think the gold mining shares are getting hit with the fall in the other shares on the stock markets?? gold has been rallying but the gold shares have been sideways to weak imho...I see overnight that the dow, oil, copper are selling hard and the virus appears to be spreading faster....will margin calls cause selling in gold which is up right now near 1700? very shaky times....
Early 2019 this was one of my favourite miners but I sold my holdings mid-year when it appeared Didipio was going to close. However, I've recently bought back a smaller stake as a value play - based on the greater leverage as a 'high cost' operator and the potential bonus of a Didipio re-opening. High risk but a potential double.

I note that last month the company raised cash by selling nearly all its stake in Gold Standard Ventures (40m shares yielding C$32.7m) and borrowed via a 'gold pre-payment facility' ($78.5m against delivery of 48koz gold this year). The Waihi district PEA and Q1 results will likely indicate if the company has the value I hope!
Lucky to of jumped ship before Didipio got closed down...worth another look If it ever reopens, thanks Taylor,t
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