{"id":342,"date":"2010-09-16T12:39:19","date_gmt":"2010-09-16T01:39:19","guid":{"rendered":"http:\/\/www.australian-gold.com\/blog\/cga-mining-ltd-asxcga-the-next-andean\/"},"modified":"2010-09-16T12:39:19","modified_gmt":"2010-09-16T01:39:19","slug":"cga-mining-ltd-asxcga-the-next-andean","status":"publish","type":"post","link":"https:\/\/www.australian-gold.com\/blog\/cga-mining-ltd-asxcga-the-next-andean\/","title":{"rendered":"CGA Mining Ltd ASX:CGA : The Next Andean?"},"content":{"rendered":"<p><a href=\"http:\/\/www.australian-shares.com\/mining\/CGX \">CGA<\/a> has announced a marked increase in gold output and markedly increased profitability from 2009 &#8211; 2010 from their ^64% owned <strong>Philippines, Masbate mine<\/strong>. Total revenue for CGA was $US158 million, up from $US2.3 million a year earlier, with cash flows before taxes at $US75.2 million. CGA has a market cap ~AUD$870m and cash (June)>AUD$100m<br \/>\nCash cost per Oz = $580. <strong>Resource of >7m Ozs with exploration upside<\/strong> and is targeting production of around 100,000 ozs for 2010 and possible upside to 200,000 per annum in 20011.<\/p>\n<p>The company has also reported high grade drilling results from their 100% owned  Nigerian, Segilola project where a drill indicated gold mineralisation zone has been shown to exist for 950m along strike and to 150m in depth. The drilling to date suggests a grade in excess of 5g\/t will be available in any future operations.<\/p>\n<p>So a very strong cash balance a mid to low cash per oz price a relatively low market cap and the prospect of a  marked increase in price of gold sales achieved plus a large and ongoing increase in gold produced all seems to add up to an extraordinary opportunity&#8230; either as a long term profit maker or takeover target.<\/p>\n<p>See <a href=\"http:\/\/www.australian-shares.com\/mining\/CGX \">www.australian-shares.com\/mining\/CGX <\/a>for a summary and links.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CGA has announced a marked increase in gold output and markedly increased profitability from 2009 &#8211; 2010 from their ^64% owned Philippines, Masbate mine. Total revenue for CGA was $US158 million, up from $US2.3 million a year earlier, with cash flows before taxes at $US75.2 million. CGA has a market cap ~AUD$870m and cash (June)>AUD$100m [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-342","post","type-post","status-publish","format-standard","hentry","category-gold-blog"],"_links":{"self":[{"href":"https:\/\/www.australian-gold.com\/blog\/wp-json\/wp\/v2\/posts\/342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.australian-gold.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.australian-gold.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.australian-gold.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.australian-gold.com\/blog\/wp-json\/wp\/v2\/comments?post=342"}],"version-history":[{"count":0,"href":"https:\/\/www.australian-gold.com\/blog\/wp-json\/wp\/v2\/posts\/342\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.australian-gold.com\/blog\/wp-json\/wp\/v2\/media?parent=342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.australian-gold.com\/blog\/wp-json\/wp\/v2\/categories?post=342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.australian-gold.com\/blog\/wp-json\/wp\/v2\/tags?post=342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}