100% anglo are interested in orinoco gold and it is what separates ogx from countless other gold microcaps on the ASX.They will not be interested in Cascavel as rumour has it Elisio is their target and they believe it may hold up to 5m oz of gold.
Clearly something is happening in the background if someone decided to invest half a million dollars and buy 41m shares on market.
It would be nice to see the broker data from that day as it will go a long way to shutting up the people who are just trying to mislead and spread fear with talk of $40m debt and a measly 333oz monthly re-payment.
Can anyone who has access to broker data upload this info?
A 70/30 JV will suit Anglo, but cartesian holding elisio as security over the royalty payments would have scuppered the previous JV deal which was negotiated when cartesian only had cascavel as security (which explains why cascavel was not included in the original JV terms)
Anglo could easily come in now and pay off all debts to secure Elisio etc leaving OGX with cascavel and some other prospective land or
If management continue to stuff up they could initiate a take over at rock bottom prices
or
If management finally spend the money required to make cascavel cash flow positive (ball mill&flash flotation cell and anything else rob riggir suggests) then there may be a positive turnaround.
So Anglo had a 70/30 JV negotiated with previous management
Cascavel was not performing and cartesian where faced with loosing their money so they rolled the board and changed the terms to include elisio etc as security over the royalty payments. They would have needed pinto for this and other large holders so what was in it for them?
Anglo have just sat back and watched the board make a complete mess of everything and are now in a position to negotiate a JV with the upper hand. A lot of things are starting to make sense now IMO
The only certainties at the moment are someone just invested half a million at these prices, directors just loaned the company 500k, anglo will not enter a JV with cartesian holding the land as security for royalty payments and negotiations with anglo have re-started.
Watch this space. Someone with $500k to spare thinks these prices are cheap and microcaps are always leaky boats.
