We have been told results from hammer mill 3 are coming and they are contemplating doubling the capacity for the hammer mill 4.
I can't wait to see the results! It's like I am 5 years old again waiting to open my xmas presents... presents are coming to all holders.
I would have thought the share price would have increased with the additional cuca results and bonanza grades in addition to the lab results....
I guess the potential of a credit raise, uncertainty of cash burn rate vs what hammer mill is able to get in terms of oz is all weighing on the share price
If burn rate is say 4.5 million a quarter they need 1.5 million a month cash generation or roughly 900 ounces a month
Wow if these hammer mill 3 can generate close to 900-1000 ounces a month we are going to know what the g/tonnes for a larger sample AND if they can be self sufficient and not need a credit raise.... dodging the credit raise is going to be close
OGX Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held