OGX 0.00% 0.3¢ orinoco gold limited

Ann: Quarterly Activities Report - September 2016-OGX.AX, page-5

  1. 1,402 Posts.
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    Un-flippin-believable! It looks like they recovered every last gram of lead from those blasting caps, but managed to let 18kg of gold slip through their fingers!
    To put 'possible gold theft' in a report means they must have more than an inkling that's a real possibility (18kg worth????) along with all the other 'issues'.
    While I can't (not being an experienced gold miner) say exactly what is and what isn't reasonable to expect of a mining company setting up that type of equipment, I do think it's reasonable to expect they should have foreseen some of these problems and been well on top of them before now. Have they really processed for 2 months and most of the gold is in the tailings? Surely other gold outfits have methods for dealing with lead from detonators...? Is there no security in place to stop someone slipping a handful of the good stuff into a pocket? They are too trusting and naive... and so am I.
    Here's hoping they get the right people who actually know what they're doing to sort this out - pronto.
    Another lesson learned for me.... don't put too much faith in those cheery "Where will we sit on the top ten UG Gold miners list?" preso's.

    Anyway, we have a bit under 300 days... let's hope we here some solid announcements about how they are going to recover. As for the options expiring, I totally agree they should do the right thing by those holder. I only have heads (apart from a very few options that came with a cap raising). Happy to add my holdings (not that I hold that much) to a list if that helps get the 5% you need to deal with them.

    Good luck all. Going to be a long 300 days!
 
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