It is interesting to read how certain industry commentators are that ORE will not reach nameplate capacity in the next year. Which then raises the question, how much more funding will ORE require to stop the bleeding?
I hope for the sake of all ORE shareholders these new boilers result in a quantum leap in recovery efficiency, and quickly raise production to the "break-even" output of 650T/month. Even if this happens, production will still be 45% of nameplate.
The difference is that at 650T/month, ORE will at least regain some credibility, and 1,000T/month may appear deliverable. However, any setback to the 650 - 1000T/month guidance (within the next 3 months) and ORE will be in serious trouble.
I hope ORE is working with top notch process guys and not trying to figure things out as they go. The reference to "operator training" seemed to suggest that operations may have been a little sloppy.
ORE Price at posting:
$1.62 Sentiment: Hold Disclosure: Not Held
