Raising money when they did was probably sensible in hindsight - means the prospect of a capital raising isn't looming over the company. A lot of the cap raising stock will already have washed its way out so leaves room for upwards movement from here without that overhang as well. IF they were trying to orchestrate this then they've botched the order of things up completely - which makes me think its all a fairly honest unfolding of events and just a bit unfortunate.
I'm curious that they couldn't provide any niton info on the gold/silver content - depending on the model I thought some could detect gold/silver content - maybe they don't want to rely on anything it provides if it does give up nunbers.
Given the widths, strike and depth of these mineralised channels is unknown, and the grade of the remaining holes is also unknown I think theres no real way to try to put any numbers on this now - but the 8 out of 21 hit rate *IF* its hit high grade silver in them all (which we don't know) is still a positive hit rate.
OGX Price at posting:
19.8¢ Sentiment: None Disclosure: Held
