This is dissapointing. If a company cannot stick to its announcements promises then what else can't they stick to?
The additional delay says to me they have struggled to get the 15 mill at 12 c OR oversubscribed, either way bad news on open with either lower than 12 c and a price drop to that new level OR more dilution.
Amazed we still cannot see hm3 results. Let's face it, management said shortly we would see results and there is nothing shortly about it. I know there are lots of optimists here saying it'll come after a full 1 month run, to align to the bonus structure of management re their oz sure bonus but its pretty universal to run calendar month start to finish, so potential we won't see hm3 result now until April.
Management missing deadlines. Delays are creeping out longer and longer. Management need to tighten their governance and run a tighter ship imho. Less clarification slip ups. And deliver an announcement when they say they will.
The cascading effect this has to the market is they cannot honour a commitment and don't have a good grasp on running a tight business.
Look after the pennies and the dollars will take care of themselves... If the little details are missed then you can sure bet the bigger things are missed as well.
Optimism is great until reality comes knocking. Gltah
OGX Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held