I'd like to make an alternate view about investors.
Back in Feb 2018 there was a strong campaign to drive awareness on the new back to basics and how they were delivering all these fantastic results of ramping up, of discovery, of cost cutting, of increasing recovery rates, etc.
Well since then, the share spiked at 13.5 cents, cr at 12.5 cents....
Now did all investors actually pay the monies owed? No!! They are still owed 1.6 million as per recent announcements.
This generally happens when an investor feels they have been told inform as tion that doesnt reflect actuals ..and this large investor holding out, was absolutely right.
That back to basics strategy is now failing. Costs are increasing again. Recovery rates are lower than last mgmt. 230 is for an entire quarter isnt the turn around they pitched us holders.
That investor had they paid 12.5 cents would have lost over 1 million of their 1.6 million investment in 6 months.
So the smart investor here is the one reneging that payment. What smart investors are you referring to? As the share price is still dropping... ie supply exceeds demand, more selling than buying this stock, supporting my view smart in investors are slowly exiting left.
OGX Price at posting:
4.3¢ Sentiment: Sell Disclosure: Not Held
