I believe MP has made the correct choice to buy more time. If the plant is not function to capacity and you are unsure what the problems is then you need to cut costs immediately and by standing all non essential staff, this has reduced our drain on capitol. I have worked on a number of mine sites over the years and not all commissioning goes to plan, to me this is just another extension of the commissioning period.
Singapore will not burn this one as they need the gold as much as we do. Clever thinking by Orinoco in hindsight.
3 Things we need,
1. Get the clowns out of the mining section and employ an experienced mining engineer. Easily done.
2. Assay on site so we can quickly fine tune the plant. May take time but again Easily done.
3. Prepare to move to cyanide extraction if required, we have the grades so it won't be cost prohibitive. This may take extra time with the government. But again Easily done.
This is not rocket science it is done all over the world.
2nd Theory, the development ore grade is actually much lower than assayed and not worth processing, this would explain the lower output.
There will be a stampede for the door on lifting of the suspension and I am tipping we will see 5c to that I will gladly grab another 1 million.
Don't worry I am feeling the pain and also and for the oppies holders. So in the mean time Just have a hot MILO and give the team some time and try not to panic. If they mention administration then give me the scotch.
OGX Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
