I see your point on the potential of the tenements and that's true, there is potential. But there a lot of gold stocks on ASX that have potential too.
The fact is, a large percentage of shareholders (Possibly the majority) have invested into ogx with the expectation of investing in a GOLD MINING COMPANY.
Actually PRODUCING gold, but also exploring for it as well.
Everyone was certainly led to believe that they would be producing gold and certainly by now.
Can they really blame the fuel strike and weather for the past 7 months? 500 oz in 7 months?
I realise it would be difficult to define in what circumstances a shareholder should seriously consider selling their shares, but when would you think that time is? After a full exploration program has been completed on all tenements showing some economical viability or possibly after the next 2-3 cap raisings or when a year or two goes by with out having produced a significant amount of gold? What would the share price be at after any of these scenarios have occur.
In my opinion, there is a smell of desperation in the air for ogx. I have not seen this desperation (on face value) on any of the video's/ twitter's though maybe they should have that mind set. Everything seems a little too laid back. Even with their scheduling of announcement and news content being cloudy to say the least.
To me it only comes down to one thing.
PRODUCE THE GOLD!
No more excuses or blaming suppliers or anything else.
Another thing iv'e never understood is if the hammer mills were so cheap to bu ($25k) then why didn't they buy at least a few of them even as back ups? Forward thinking to reduce risk and ensure some efficiency. Purchasing of back-up parts most commonly braking down/ wearing out like hammers etc. They had the money after the cap raising.
Unfortunately, for me, I am kind of investing on what card will they play next.
OGX Price at posting:
4.8¢ Sentiment: Hold Disclosure: Held
