OGC - Oceana Gold

[roysolder]

sadly i,ll bailed so synical as i had to buy my ex out.
still heavy in krl 600,000 shares so hoping for that to run soon.
i have to say ogc was good for me buying in at 16 cents mate.
i feel it still has a long way to run at at 2.75 it is still a bargain
good luck to all the holders and remember didipio will be their next project

 

[JTLP]

sadly i,ll bailed so synical as i had to buy my ex out.
still heavy in krl 600,000 shares so hoping for that to run soon.
i have to say ogc was good for me buying in at 16 cents mate.
i feel it still has a long way to run at at 2.75 it is still a bargain
good luck to all the holders and remember didipio will be their next project

Roy you have been on the money mate!

This one closed today up nearly 16% to 3.55...from 16 cents to 3.55...I think I want to kick my butt so hard!

What's causing this run up? They bought out their hedgebook but that was a lot of mula...GAH...not enough headbangs

 

[roysolder]

hi jtc, they had a huge jump up on the 27th may up 50 odd cents then up again yesterday.whats causing it? can only be improved gold reserves, price of gold , production costs.and i really think didipio is the next big project with 120,000 ounces per year waiting for mining .
in 2008 when i bought they had price of oil ,gold and a strong dollar verses the us dollar and hedging against them so things are all in there favour now.
i still agree with explod that gold has a long way to run

 

[eunza]

Hi Guys,

New to this forum - I've been over at a few other Forums however they seem to lag on posts/content so thought I'd set up here instead

I'll be posting some of my Tech Analysis of the RCD method for swing trading (Reversal Convergence Method) on small % plays. Usually I aim for around 10%-15% on avg - of course depends on the stock / market however I will never buy and hold - usually out within the week.

So anyway onto OGC: ( JPG Attached)

30 Min Chart
1 - Price action : This instance falls under a possible SCR (suppression, consolidation, release) At current the 2.90 is a horizontal resistance/support level (reistance has been tested/broken as per the last candlestick) however the more important resistance (MACD level) has been broken - as below

2 - Quick overview - The Pink Range indicates increasing breakout possibility. The higher above the central line the less impact this will have - However when this pushs down towards and through the main centre point (blue dashed horizontal line) the higher the breakout possibility (as well as increasing the SP level). We can see this pattern has made 2 attempts at closing below the line - each time (including the 3rd - the most recent) it has pushed lower and increasing the 'Bullish' nature of the pattern. The further down this heads the faster the breakout will occur.

3 - RSI - As in this case the Stochastics should be showing an upwards trend - notice the last couple of clicks the last high has been moved up a notch.

4 - Volume - i haven't included the Volume amounts on this chart however if you bring up a 30 min you will see the Large sell off volume, Almost non existant Consolidation volume and now an increase on recent volume since the push up.

Lastly to confirm the pattern - the Price has broken above the last minor (2.90) high on the 29th. At this point it is possible for the breakout to continue.

Will post a longer term chart later however I've picked up a holding based on these factors. Will post on any major changes to the pattern.

 

[eunza]

Lets check out the 2 hr chart - We can see the swing pattern emerging - I've seperated these into 3 sections.

Overall we have a slight downtrend for the last few months. No problem as we'll just be scalping the momentum on the RCD.

On this particular chart the RCD swings are very clearly defined:
Blue upwards swings (bearish above centre line, Neutral below)
Pink Downward swings (Bullish BELOW centre line - neutral above)

The larger the upward blue swing the more chance of a bullish pink reversal. Ie. the momentum needs to be reversed.

On this chart each of the 3 downward pink bullish drops are preceded by solid blue bearish upswings. Check the swings compared to the price action and you can see the relevance. The RSI (bottom chart) which should be in an uptrend is also very clearly defined for these ranges. When the Pink / RSI break downwards this where you should consider the exits.

Now the centre cross over is where the big action happens. At the current speed this will occur in the next 2 or 3 2hr candles. Possible breakout or at least continuation of the SP upwards will occur. like we can see now these centre line crossovers are usually the best place to buy/topup.

 

[eunza]

A few factors have changed since my last post:

1. Price action has broken and closed above the 2.93 resistance area
2. RCD (pink) has been mapping below the green/black support line - From the start of the pattern it has tested the lower black line (bearish resistance) - I've marked each point this has occured. However we can see on the 5th attempt it has broken this level quite substantially
3. Continuation of RSI uptrend. We can see the 3rd bounce of the lower support line -
4. The volume concurs with the above indicators - large increase with the SP.

Overall the RCD chart is looking stronger.

 

[skyQuake]

Does look that way for now, but big aus seller still there form last week.
Got a push today with the other Canadian goldies on the kinross/red back takeover.

 

[Chargin8]

OGC better do well, I bought at $3.51 after a diggers and drillers tipoff and need it to get back up there hehe

 

[eunza]

Was looking a little shaky for the last couple of days - however the 2hr RCD is still managing to stay positive. Looking even better on the daily.

again would no see a reason to step out with the current movements however would keep a look out for possible weakness on the 1 / 2 hr charts over next few days.

 

[eunza]

Not looking so hot on the mid term RSCD charts:

On the 4 hr chart the action is looking weak however we have conflicting data on the 1hr chart which shows the potential for a turnaround however volume is low and I would usually lean more towards the longer term charts for accuracy.

I'd be out at least momentarily on this one - however would keep an eye on the short term turnaround for a potential reentry.

 

[metal_loz]

OGC looks like it has broken the downward channel and will begin trending upwards.

This has been strengthened with increasing volume over the past few days. Bought in on Friday at $3.37

 

[bigdog]

7/12/2010 9:09:00 AM 11 OGC announces Exploration Results from Reefton Goldfield

HIGHLIGHTS
• The “Globe Deeps” drilling program has successfully tested the Globe Progress shear beneath the current pit limits with significant mineralisation intersected up to 250m down plunge from the base of the current pit design (including RCD0008 17.8 metres @ 4.59g/t Au and RCD0110: 17.0 metres
@ 3.17g/t Au).

• At the Souvenir deposit, an infill and extension drill program was completed with significant mineralised intercepts (including RRC0088: 17.3 metres @ 11.98g/t Au and RRC0117: 13.2 metres @ 5.50g/t Au). This confirmed further down-dip continuation of mineralisation. An expanded pit shell and reserve is anticipated by year end.

• Drilling of several prospective near mine coincident geologic and geochemical targets (program still in progress) has returned encouraging intersections. This includes an intercept (hole RDD0081) of 22m @ 1.67g/t Au (estimated true thickness of 4.5m) at the newly discovered Fraternal prospect approximately 1.5km to the NW of the Globe pit (Fig. 1). Further drilling of the Fraternal prospect is scheduled to commence in January 2011.

• Extensions of high-grade mineralisation beneath the General Gordon West, General Gordon East and Empress 1 deposits were drill tested. Results from these programs (including RRC0098: 3.2m @ 4.91g/t Au and RRC0101: 7.1m @ 4.12g/t Au) are encouraging and reflect the potential of the area. A 2,900m follow-up drill program has been completed and results are pending.

Jim Askew, Executive Chairman commented, “The results from the exploration program at Reefton are very pleasing. The team was focused early in the year on identifying priority targets and these drill results are a strong follow-on to this work. Both the Globe Deeps and Fraternal results point to new areas of mineralisation in close proximity to the processing plant and these are being followed up with additional drilling and studies.”

 

[Wysiwyg]

Wondering if anyone has knowledge on the off market trading of shares recently. The off market trading has gapped the price down on market open every time. The trades are late trade cross trades and overseas cross trades.

 

[It's Snake Pliskin]

Nice gap down today but not for the account. I still hold but what is up with the price on this one? Why the gap action?

It seems fundamentally ok so is there a good buy opportunity to fill the gap present? Pondering thought.

 

[GumbyLearner]

Nice gap down today but not for the account. I still hold but what is up with the price on this one? Why the gap action?

It seems fundamentally ok so is there a good buy opportunity to fill the gap present? Pondering thought.

Here's one explanation Snake

http://www.odt.co.nz/news/business/144412/oceana-plans-year-development?page=0,0

 

[skyQuake]

Wondering if anyone has knowledge on the off market trading of shares recently. The off market trading has gapped the price down on market open every time. The trades are late trade cross trades and overseas cross trades.

Thats people trading the Canadian OGC (it trades both CN and AU)

In that case canada was the one that fell over and dragged AU down with it

 

[It's Snake Pliskin]

Here's one explanation Snake

Cheers Gumby, interesting read.
As I won't be able to manage it while travelling I got out. Will watch when back.

 

[Wysiwyg]

Thats people trading the Canadian OGC (it trades both CN and AU)

In that case canada was the one that fell over and dragged AU down with it

Thanks Quake. Coupled with the fall in POG too. I happened to purchase two days earlier. What goes around comes around I suppose.

 

[Wysiwyg]

Only one trade outside the hours this morning so price has manged a small gain today despite overall market sentiment. Maybe the Canadian sell off is over for the time being. POG breaking upward again would be helpful too. 1346 - 48 resistance at the moment.

 

[explod]

Back with you all last Thursday and looking like the bounce back is in.

The pretro dollar jitters in the Middle East will suport a rise in gold this week. I do not think it was far off anyway. Financial Review today talking of large smart money buying physical gold.

Would be good to see OGC move to test the old hurdle at $4. The financial fundamentals on the world stage would suggest the possiblity IMHO.