Huh? What world are you living in? The company is at an Enterprise Value of US$20 million. Microcaps are priced for no good news...and OGX is a prime example of that.
AISC calculations are for going concern mines. You can't have it both ways, Questionable IQ...claim that OGX is a bust, and then at the very prospect of OGX breaking cash flow positive...start chanting AISC (and incidentally, it is NOT ASIC...get your basics right at least)! Jesus...Never amazes me what I read on HC.
The first thing about running a quasi start up (OGX qualifies as one, albeit a well advanced startup) is positive operating cash flow. The minute OGX shows that it is able to generate enough such cash flow, the market will go from worrying about survival (priced in at US$20 million EV) to start wondering about blue sky scenarios.
What I was pointing out was that OGX's main problem is actually the Cartesian payments. Take that away, and suddenly OGX is almost able to wash its face with cash flow...ok, if not this very minute...then hopefully, a few weeks from now.
We know what they need. Some more underground equipment, a ball mill, a flotation circuit and preferably a CIL plant. The Toro, ball mill and flotation circuit is just a matter of some cash spend and time. Hopefully, this should get OGX to breakeven cash flow.
OGX Price at posting:
2.9¢ Sentiment: Buy Disclosure: Held
