Everyone is entitled to there own opinion, that is for sure, you can look at Anglo as a vulture circling waiting to ponce and gobble us up, or see them as a guardian angel floating above us ready to step in and save the day if needed, and anywhere in-between. I think the face that management makes there money on the SP, as we all do, that we are unlikely to see a hostile takeover anytime soon, management will not allow it as they will not make the maximum on there payday, and neither will we, so if push comes to shove, I think there would be enough holders prepared to stand there ground and not sell.
Anyway, I think that is a ways of as yet, they need to prove up the value of the company first. The new management team walked into a train wreck, it is going to take more than a few months to put the train back on the rails. I would imagine trying to recruit the right people with the history of the company will take time, getting the right people with the relevant experience to support Richard must be a top priority at the moment. If they can come good on there plan to be cash-flow positive this month and produce 2000 oz next month, then a rerate will be on the cards. With the ground we have, it could even be sooner, this high grade zone they are into now could produce some spectacular grades IMO.
OGX Price at posting:
7.9¢ Sentiment: Buy Disclosure: Held
