OGX orinoco gold limited

Ann: Dispatch of Entitlements Issue Prospectus, page-7

  1. 2,599 Posts.
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    Hi Eshmun,

    I don't have any specific beef with you, but I think you are wrong with some assumptions.

    Companies are not permitted to sprout 'facts' without having a reasonable support for those facts, despite all the disclaimers in the world. Just ask the Commonwealth Bank. The video is still on the company website ...so its not as though the company can say we don't really meant it.

    In any case ...this is all moot until a lawyer has a good look at it.

    There are dozens of investors who will not buy the 60% discounted shares without reasonable production figures from the company. Doesn't that concern you?

    It is not my goal to bring down OGX, I just want them to give the shareholders the real information.

    I do not want to see the West Perth establishment take advantage of shareholders who lost so much.

    You may think that its fine that some shareholders are privy to special information ...but I do not.

    ASX trading rules are based on the premise of equality of investors price-sensitive information being available to all. It may have been fine for AGA to be doing due diligence on Cascavel, Sertao and the whole Faina tenements, but it is a different situation where they are set to take advantage of this massive 60% discount. Happy if my efforts help shine a light on activities to make sure they are fair -cause it feels opaque and nefarious at the moment. I have no doubt there are plenty of hardworking holders of all sizes who have been through the wringer with OGX. I'm sure many of them have been working hard behind the scenes and we are lucky to have their support whoever they may be.

    I have supported the job the new management have been doing in redeveloping the mine ...except for the part that they can't count and we have now run out of money before the gold arrives. Too bad ...just decimate the SP at a 60% discount.

    Its not good enough!

    If we were about to become insolvent, we should NOT have spent money on anything that was not absolutely essential, until the gold flowed. Millions of dollars have disappeared again. The tailings assay results clearly showed that the processing plant was already working fine with minimal gold in the tailings. All the money and effort spent on the processing plant, the assay lab, and probably half of the development work should have been delayed until after we had income from the most promising high grade area -not to mention buying the 30% partners out (who was this done for?). We again appear to have spent money like drunken sailors.

    I ask you who is to gain from this predicament?

    Great that we have Anglo, ...but do we want to give it to them on a platter -how about fair value after we prove some decent gold production and grow the size of the pie?

    I would prefer to see OGX succeed with as many original shareholders as possible avoiding this spectacular dilution. I suspect that we are still sitting on lots of gold and I will try to take up my entitlement if I am able -because I don't like being conned.

    As mentioned before I am concerned that we have adequate security at the mine after the heist at Sertao years ago, as well as the OGX report of possible theft last year -this is gold we are talking about -pretty easy to pick up a few kg lying around. We are not idiots here -how confirming that this has been addressed?

    Regarding any potential class action, it would be pointless to even consider unless it is clear that OGX have insurance, otherwise we would be just taking legal action against ourselves.

    Is it a potential option at some point in time ...definitely!

    Thanks for your words of support Eshmun, but I do not believe my efforts are in vain ...we need some real corporate governance and financial planning without emergencies and we need some confidence to be returned to shareholders & OGX.

    Cheers Harry,

    I just want some fairness, accountability and good management (a mining & gold production report too).


    SJB
 
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