I find all this very troubling
(Jakey.J):
"So what was really going on here during late Feb through the end of March? Statements made by mgt about what ore was being processed and how much they expected to run certainly seemed positive and so on.
19th Feb....
"Large hammer mill Installed and will mill high grade ore this week"
"Last week the mill ran waste rock material and high-grade ore will begin to be processed on Monday"
"Production ramp up is underway, the higher-grade ore that has been stockpiled underground is currently being hoisted to surface for processing through the new hammer mill"
9th March....
"We are currently processing 1,500 tonnes of ore and development ore that sits at surface through our Hammer Mill 3"
Then amended (13th March ann)....
"It is expected that we will process a minimum of 1,500 tonnes of ore through the plant this month"
etc etc etc
Clearly we had good reason to be positive regarding the HM3 development. High grade ore was being run through the new mill (apparently). They were hauling higher grade ore to surface for processing. And they looked set to achieve a healthy 1500 ton minimum for the month of March......positive stuff.
Then we see they have achieved something rather different:
"HM3 was fed with 640 tonnes of tailings, low and medium grade ores and mine development material producing an average 6.4 g/t grade and an estimated recovery of 83.9%"
"Higher grade run of mine ore to be processed as part of final commissioning"
I wrote to the company some weeks ago and warned them that using the description "shortly", and then not releasing news will create uncertainty that will benefit traders at the expense of longer term holders. I did not receive a reply.
Let me confirm again, I have not sold (or bought) a single share for months (more fool me).
"Shortly" was used for Elisio results more than a month ago and also for Cascsvel which went on for weeks. I vehemently disagree with those who say don't release bad news as it happens (at least once every two weeks if necessary). The alternative is fear and insider trading.
Don't be mistaken, I am very bullish on OGX, and I believe Antena-Xupe results will be positive as they have already been proven by the historical drill GRV476 AFACT (as posted on the other thread):
View attachment 1069774
Let's not forget Elisio already has gold mineralisation intercepts of
33m @ 4.2 g/t and
28m @ 3.9 g/t. Yes, you read that correctly ...amazing thickness! Where are these overdue results.
I've now also seen a number of comments (including on Twitter), referring to certain positive news imminent.
With the announcements that have proven to be inaccurate (euphemistic?) combined with the other info, including the subject of this thread, I would be apoplectic with rage if I had sold out on a contrived capitulation ...only to see the SP rebound.
We can develop a successful company without losing community trust and our social licence.
#Mark 79, we don't all disagree with everything you have said.
Cheers,
SJB
