OceanaGold gains backing
"When you are on the development curve, there are different investors who take different risks, so when Didipio is fully bedded down there will be another set of investors, longer-term investors, who will join the party," he told BusinessDay last November.
Around that time, the world's biggest mining investor, BlackRock, revealed that OceanaGold was increasingly on its radar and could be worth a punt if the troublesome Didipio was successfully delivered.
"As the ramp-up of Didipio moves forward, then it will become more and more in focus for us," said Catherine Raw, who works with BlackRock's Evy Hambro.
A year on, both parties appear to have made good on their promises, after BlackRock emerged as a big shareholder in the Melbourne-based goldminer on Friday.
The investment is a boost for OceanaGold and Didipio, now considered the lowest-cost goldmine on earth.
Citi rates OceanaGold as a buy and believes it is poised to increase free cash flow in the near term.
Frequently Asked Questions about this Article…
The successful ramp-up of the Didipio mine in the Philippines has increased interest in OceanaGold, attracting high-caliber institutions like BlackRock to become significant shareholders.
OceanaGold's investment appeal has been boosted by BlackRock emerging as a significant shareholder, following the successful ramp-up of the Didipio mine in the Philippines.
The Didipio mine is significant for OceanaGold because it is now considered the lowest-cost goldmine on earth, which has boosted the company's profile and attracted major investors.
The Didipio mine is significant for OceanaGold because it is now considered the lowest-cost goldmine on earth, which enhances the company's profitability and attractiveness to investors.
BlackRock's involvement as a big shareholder has provided a significant boost to OceanaGold, signaling confidence in the company's operations and future prospects.
BlackRock's involvement has positively impacted OceanaGold by providing a vote of confidence from the world's biggest mining investor, which can attract more long-term investors to the company.
OceanaGold's CEO, Mick Wilkes, promised that high-caliber institutions would join the company's share registry if the Didipio mine proved successful, which has now been fulfilled with BlackRock's investment.
OceanaGold CEO Mick Wilkes promised that high-caliber institutions would join the company's share registry if the Didipio mine proved successful, which has been fulfilled with BlackRock's investment.
Citi rates OceanaGold as a 'buy,' indicating confidence in the company's potential to increase free cash flow in the near term.
Citi currently rates OceanaGold as a 'buy,' indicating confidence in the company's potential to increase free cash flow in the near term.
As OceanaGold progresses along the development curve, different types of investors become interested, with longer-term investors joining as the Didipio mine becomes fully operational.
The development curve affects investor interest by attracting different types of investors at various stages. As Didipio becomes fully operational, it draws longer-term investors seeking stable returns.
Catherine Raw, working with BlackRock's Evy Hambro, highlighted the increasing focus on OceanaGold as the Didipio mine ramped up, contributing to BlackRock's decision to invest.
Catherine Raw, working with BlackRock's Evy Hambro, indicated that the successful ramp-up of Didipio would bring OceanaGold more into focus for BlackRock, leading to their significant investment.
The outlook for OceanaGold's financial performance is positive, with expectations of increased free cash flow in the near term, supported by the successful operation of the Didipio mine.
The successful delivery of the Didipio mine means that OceanaGold can now attract major investors like BlackRock, enhancing its market position and financial stability.
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