I am gobsmacked given they had over $16m and all they had to do was the permitting. By some accounts the last drilling campaign, while expensive was mostly just geo-technical and sterilization drilling for final pit/mine design. Ok so there was a cost blowout which was announced a LONG time after a mass exodus of what I now presume were insiders. And I did extensive research into the last three cost projections and was shocked by what I discovered some weeks in.
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You can check the resource figures before and after that drill campaign and see little changed.
The whole point of the permitting process from the shareholders point of view was that it would take one to two years hence it should have been submitted two years ago to the ducks would be in a line for this inevitable Zinc rise.
But no. Can that project. Reject the suggestion of low cost expl in the Yukon as there were bears about, sit on the $6m remaining cash for two years 'looking' at stuff while the share price goes from 16c to 1c and the cash falls to 1.7m then promise a massive chunk of OVR equity in exchange for an unexplored Au project in Columbia during the worst Gold price collapse in 30 years, and now what - are they REALLY thinking of re-activating the Yukon because Zinc is now making the run we all KNEW it would? Surely by the time it is permitted now the Zinc boom will be over for another 30 years?! Are we all just going through the motions?
What next? Cant be long until I am sued because I cant be shaken out.
Happy New Year.
OVR Price at posting:
1.1¢ Sentiment: None Disclosure: Held
