OGX (ASX) 4.3 cents and dropping

Originally posted by eshmun ↑

For mine people are already hanging at the end of the rope and are dying a slow death, lead to gallows by people singing the company’s praises day after day with ill-informed and bias opinions dressed up to look like expert views.

All exploration from here on means more money needs to be raised (pitty Anglo aren’t paying for it like was the original intention of the JV that slowly vanished into thin air with no real timely explanation).

The game is for Cartesian to recover 100cents in the dollar IMO and then they can sigh a breath of relief and be sitting free carried like a big fat monkey on OGX’s back.

The minimum quarterly royalty of 1,000ozs of gold (equivalent) should get them to about 32cents in the dollar by the end of Sept (as explained in the post below).

https://hotcopper.com.au/threads/way-oversold.4336478/page-39?post_id=34721466#.W4dzwBo_WhA

Does anyone know if Cartesian still hold the 2 million shares and 3.4 million options they got as a signing fee for amending the funding agreement in 2016?

I suppose if they haven’t sold these shares yet they could still sell them to recover another 0.8cents in the dollar (not worth very much now compared to the outstanding monies loaned).Esh

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Great analysis, logically thought out Eshmun
JG formerly worked at Cartesian and to deny the possibility there are massive conflicts of interest where paying back becomes the key priority you would be foolish to not consider imho.

The analogy of family... JG was in the Csrtesian family and had been for years. Loy as lties and friendships develop.
Same as a family, if I am a father of 2 children and a wife, we will call those 3 cartesian... but then I as the father need to also go to work every day a d make decisions on whether my family get a good life or eat well then my decisions will be biased to optimize the welfare of the family(cartesian)

Doing another CR is good for Cartesian to get their money owed back, and very very bad for existing holders where the shareprice plummets further like 90 percent of CRs.
So definitely another CR on the cards...

The only upside I can see at this point of OGX even surviving is a buy out from a large company like Anglo....

But I have seen time and time again ogx would be allowed to go to liquidation, and forced to sell mining assets at 5 c yo the dollar. Anglo would be best financially to wait until OGX get to this point to minimize the outlay to buy OGX and totally remove any bargaining power ogx mgmt would have

Down she goes