Well done Jimone for calling the clarification announcement, came sooner then we thought...
Let's see if they can get 3 announcements in a row without the need for clarification, talk about degrading investor confidence they are running a tight ship. Let's hope their Sydney lawyer is able to demonstrate more competence in negotiating terms then whoever keeps writing then clarifying every 2nd Ann
Other side to this could be they don't want to set any unrealistic terms to holders they cannot realistically meet by end of year, and that 5000oz gold a month could be entirely unrealistic.
Given the ongoing need for mining permits, the hanging JV 70 % with Anglo on anything outside of Cuscavel and the 20 percent oz to Cartesian they may be thinking getting to 5000 oz might be a bit of a stretch.
Market will see this very negatively imho. Removing an indication they can get to 5000 oz, which is where they need to get to to for a profitable operation, could indicate they will not be self sufficient this year
It could also indicate while they have the grades they are concerned about not having the volume? Although I find that hard to believe with the tailings.
Let's see
OGX Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
