7 Gold Stocks - OGC, RSG, GOR, SLR, DCN, EVN, SBM

  • Jul 30, 2018 AEST
  • Team Kalkine
7 Gold Stocks - OGC, RSG, GOR, SLR, DCN, EVN, SBM

The latest reports from gold stocks have shown that with better gold exploration, mine operations and production, various safe haven investments have supported the market widely. Some key stocks of the category are discussed hereinbelow while production going forward looks at a lower level for some of these.

OceanaGold Corporation (ASX: OGC) was seen to be trading at a market price of $4.09 (as at early trade on July 30, 2018) and has seen a price change of $0.130 and a percentage change of 3.325% as at July 27, 2018. The company lately lifted 2018 consolidated gold production guidance at 500,000 to 540,000 ounces finding support from robust operating performance and improvements at the Didipio Operation. Distribution of $0.02 per common share with ex-dividend date as 7 AUG 2018 (TSX) / 8 AUG 2018 (ASX) and record date as 9 AUG 2018 and the payment date of 14 Sep 2018, has been noted. Its robust operation led to report a growth of 45% in net profit after tax of $89.1 million in the first half 2018 with a significant cash balance lift. In last three months, the stock has moved up by 16.1%.

Resolute Mining Limited (ASX: RSG) traded at a market price of $1.300 (as at early trade on July 30, 2018), and the daily price change or a decline of -$0.020 and -1.504% as a percentage change was noted a day before. Adoption of an optimized mining and processing schedule has been allowed after the successful receipt of all required government approvals. Resolute achieved significant returns and earlier indicated for 14.3Moz of gold Reserves & Resources. The company has a production guidance of 300 Koz at Australian dollar $1,280 / oz for Fiscal year 2019.

Gold Road Resources Limited (ASX: GOR), currently led by Mr. Ian Murray who is the CEO, was trading at a market price of $0.710 (as at early trade on July 30, 2018), and the company has seen a performance change of positive 4.4% over the past 12 months. The company is embracing innovation to continuously improve their chances of success. The company’s latest acquisition was South Yamarna Joint venture with transaction value of $5.54 million with announced date as Feb 05, 2018 has been a key highlight. The group has been aiming for the first gold pour in June 2019 quarter at the back of Operational Plan for Gruyere that indicated the Project’s Ore Reserve of an average annualised production of 270,000 ounces for at least 13 years.

Silver Lake Resources Limited (ASX: SLR) was trading at a market price of $0.545 as at July 30, 2018, market open, and has seen a daily price change of -0.005 or a decline in percentage of -0.909% as at July 27, 2018. The company’s Aldiss mining center is operational with overburden removal commenced and infrastructure projects on track for first ore to the mill in 2Q 2019. Maiden JORC 2012 Karonie Ore Reserve increased Aldiss mining center ore reserves by 75% to 203,000 oz. For FY 19, the gold sales guidance is at 140,000-150,000 ounces. This is reflecting the impact of non-cash stock movement expense associated with stockpile treatment in 1H FY19 and the relative low grade of stockpiles prior to the introduction of Harry’s Hill ore in 2Q FY19. The stock has been up 45% this year to date.

Dacian Gold Limited (ASX: DCN) is under metals and mining sector, and was trading at a market price of $2.840 as at July 30, 2018, market open, and has seen a price change of $0.040 or a percentage change of 1.439% in positive a day before. The company’s 100% owned Mt Morgans Gold Project has witnessed strong shallow and deeper drilling results demonstrating growing potential of the Cameron Well discovery. Thus, sometimes investors should look beyond the macro pictures while evaluating equities that can provide decent returns over different time frames. In fresh equity, the company is seeking to raise $45 million. Followed by a share purchase plan to existing investors, the group was seeking to raise up to $40 million in an institutional placement. The group has been putting efforts to become the next Australian mid-tier gold miner, that can deliver higher production at about 200,000oz per annum for at least 10 years.

Evolution Mining Limited (ASX: EVN) traded at a market price of $2.895 post market open on July 30, 2018, with a percentage change of -4.605% or a daily price change of -0.140 as at July 27, 2018. Lately JP Morgan and Citi were in the market seeking buyers for a $257 million parcel of Evolution Mining shares. The stock was expected to be sold to institutional investors at $2.79, a share which was around 8.2 per cent discount to last close of Evolution. It is noteworthy that the stock has fallen about 16.4% in last one month as EVN guided for FY19 gold production of 720,000 to 770,000 ounces at an All-in sustaining cost of A$850 to A$900 per ounce of gold while its FY18 production was at 801,187 ounces of gold at an AISC of A$797 per ounce.

St Barbara Limited (ASX: SBM) traded at a market price of $4.16, as at July 30, 2018 (post market open) against $4.370 as at July 27, 2018. The company delivered stock price returns of 57% over the past one year while it was down 10% in last one month. The company has a record annual production at its key operations and Simberi mine life extension to FY21 has been indicated. St. Barbara exceeded FY18 increased guidance of 375 to 392 koz while FY19 consolidated guidance is production of 350 to 375 koz, AISC A$1,030/oz to A$1,100/oz, sustaining capex A$58 to A$65 and growth capex A$60 to A$64 M.

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