On September 27th 2016, just after the review and audit announced by the DENR enviro department of the government of The Philippines into a whole list of mining companies including the local subsidiaries of B2Gold (BTO.to) (BTG) and OceanaGold (OGC.to) (OGC.ax), this humble corner of cyberspace recommended a pair trade of going long BTO and short OGC.
Today we learned that The Philippines has given the B2Gold Masbate mine the all clear, but the OceanaGold Didipio mine has been ordered suspended.
- On September 27th, OGC closed at $4.05. Today it closed at $4.43, up 9.4%.
- On September 27th, BTO closed at $3.38. Today it closed at $4.14, up 22.5%