Yes. I'm talking about the small guys amongst us who took the...

Yes. I'm talking about the small guys amongst us who took the risk, not the select few who knew what was going on in the background.

The share price never needed to take the pummeling it did after it came out of suspension because the offer never needed to be that low IMO. The discount to the 6 monthly weighted moving average share price was ridiculously low. We are basically just back around that level now. So no great reason to celebrate for LT shareholders other than having survived a trip to the doors of the slaughter house. ie we've been miraculously led back to the paddock at the eleventh hour. The incomprehensibility of that discounted offering was one of the reasons I didn't take up my entitlement.

Let's hope all this good news is genuine and they can build up some high grade production at a reasonably low cost. The "resource" probably has some decent potential although as we all know it is difficult to define. It's obviously not difficult to see in certain parts of the mine.

I'm also buoyed by this statement from the announcement

"The hammer mill in its current configuration gives a much finer grind than the currently installed comminution circuit thus liberating a finer gold fraction."

It suggests that there is a finer component to this high grade mineralisation and that the previous recovery issues might be explained by the grind size and not gold theft. Did we ever get assay results from the tailings? I can't recall as I'd lost patience and interest in the story after it went horribly wrong. And what was up with the previous management feeding all that low grade development ore through the plant. It was probably justified to test the handling characteristics of the ore during the commissioning phase but they fed so much of this crap through they basically sent the company broke. I remember @hatmopit being one of the shareholders tearing their hair out when those announcements came through and justifiably so. Does anyone remember some of that optimistic talk by the company before commissioning of one day maybe putting an acid circuit on the mill to further optimise recovery? Maybe this can come back on the table if and when they prove this new gravity circuit really works to create profitable ozs.

For new investors I'd still approach this stock with extreme caution as there are still many unknowns when it comes to costs (ie the likelihood of economic/profitable commercial production). The mine however has potential if they can get it working and the JV with Anglo over the exploration package is icing on the cake. Anglo's average buy-in price is much higher than the last entitlement issue price and they have behaved properly IMO to help support the company and keep it in business. As discussed in previous posts Anglo could have elected not to help and then OGX would have had a good chance of going down the gurgler. Anglo could have then done a backroom deal to get the carcass much cheaper. Obviously Anglo had reasons not to take this approach, the main reasons IMO probably being the operational delay this would have caused and complications that would have resulted in terms of the status of the existing exploration JV. Let's hope that, for whatever reason Anglo decided to support OGX, this good relationship is maintained, in the good times as well as the bad (that's if the good times ever truly come around). Esh