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 in its resources investment team in London.
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 attracted significant interest from investors, including BlackRock, the world's biggest mining investor.
The successful ramp-up of the Didipio mine in the Philippines has attracted significant interest from high-caliber institutions, including BlackRock, which has become a major shareholder.
BlackRock is interested in OceanaGold due to the successful delivery and ramp-up of the Didipio mine, which is now considered the lowest-cost goldmine on earth.
The Didipio mine is significant because it is now considered the lowest-cost goldmine on earth, which enhances OceanaGold's financial prospects and investor appeal.
The Didipio mine has significantly boosted OceanaGold's investment appeal by proving to be a successful and low-cost operation, attracting high-caliber institutional investors like BlackRock.
BlackRock's involvement as a big shareholder has boosted OceanaGold's credibility and market presence, signaling confidence in the company's operations and future growth.
BlackRock becoming a shareholder in OceanaGold is significant as it reflects confidence in the company's operations and potential for growth, particularly with the Didipio mine's success.
Citi rates OceanaGold as a buy, indicating a positive investment outlook and the potential for increased free cash flow in the near term.
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 been fulfilled with BlackRock's investment.
Mick Wilkes, the chief executive of OceanaGold, promised that high-caliber institutions would invest if the Didipio mine proved successful, a promise that 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.
Different investors take different risks at various stages of a company's development. As OceanaGold's Didipio mine becomes fully operational, it attracts longer-term investors seeking stability and growth.
The Didipio mine plays a crucial role in OceanaGold's strategy by being a low-cost operation that enhances the company's investment appeal and attracts long-term investors.
The Didipio mine's status as the lowest-cost goldmine on earth makes it an attractive investment, offering potential for high returns and reduced operational risks.
The Didipio mine is currently considered the lowest-cost goldmine on earth, having successfully ramped up operations and attracting significant investor interest.
Over the past year, OceanaGold has strengthened its market position by successfully ramping up the Didipio mine, attracting major investors like BlackRock, and receiving a buy rating from Citi.
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