Hi Pat: Could I have your opinion on four junior gold and silver stocks I hold? They are OceanaGold, Silvercorp, Eco Oro Minerals and Evolving Gold. Thank you.
OceanaGold Corp., $2.40, symbol OGC on Toronto (Shares outstanding: 262.7 million; Market cap: $630.5 million; www.oceanagold.com), has projects on New Zealand’s South Island and in the Philippines.
The company owns the Macraes goldfield in the South Island’s Otago region. This project, which is New Zealand’s largest gold mining operation, consists of two mines: Macraes (open pit) and Frasers (underground). The company also operates the Reefton open pit mine, on the west coast of the South Island. OceanaGold’s New Zealand mines produce 230,000 to 250,000 ounces of gold per year.
In the three months ended December 31, 2011, the company’s revenue rose 3%, to $106.6 million from $103.5 million a year earlier. (All figures except share price and market cap in U.S. dollars.) Earnings rose 31.4%, to $14.3 million from $10.9 million. Earnings per share rose 25%, to $0.05 from $0.04, on more shares outstanding.
OceanaGold also owns the Didipio project in northern Luzon, Philippines. Didipio is now under construction, and is expected to…
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