Management have made what is in my opinion a big call by forecasting May as being our FIRST EVER cash flow positive month, then doubling down with the aim of June being a 2000 oz month.
From the quarterly....
"KEY OBJECTIVES FOR JUNE 2018 QUARTER" Cascavel to be cashflow positive for the month of May.
• Commence bulk sampling at Cuca in late May.
• Commission Hammer Mill 4 with initial focus on high grade tailings.
• Aim for 2,000 ounces of production for the month of June.
• Complete initial drilling programme at Antena and begin drilling at Cascavel, Cuca and Sertao.
• Progress works at Eliseo with a further 10 sample pits (9 already complete & awaiting results).
• Complete Tintiero cobalt field work. Re-assays of 2012 rock chip samples graded up to 1.19%.
• Complete in pit optimisation studies at Antena and Sertao to assess viability to re-open given the significant mineralisation left in the pits.
I wonder how much wriggle room they have left themselves with these objectives, what are we thinking, can they do it?
OGX Price at posting:
8.8¢ Sentiment: Buy Disclosure: Held
