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284 Posts.
130
25/09/18
10:41
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''OGX's main problem is actually the Cartesian payments''.
I think OGX'S main problem is that they have not been producing the gold they set their targets for early this year.
Roughly 500 oz produced in the past 9 months= Roughly $500k in cash after AISC.
With a quarterly expenditure of roughly 3.8M
Not sure if they will be washing their face with cash or gold, maybe a bit over the top.
To me, it's a race against time to hopefully get positive CIL results and then raise the necessary capital to make the modifications.
After all that is done, I guess there will be a commissioning phase such as the one we went through for hm3. So maybe a few months?
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