Fair enough @rastus64. My point is probably more directed at investors that try and view these sorts of things from a fundamental point of view. I have a reasonable understanding of mining and exploration (15 plus years in the industry) and find it very difficult to reconcile a mining operation with no stated objective in terms of gold production, not even a rough estimate of a potential resource, etc. I realise that it might be hard to define a JORC but how can it simply be on a 'lets hope for the best basis".
Are you happy to simply invest in something that is not fully understood (or even partly understood)? What sort of earnings / dividends are you expecting (hoping) for from your investment? Will the revenue be adequate to pay back the capital expenditure (provided largely by shareholders)? Or are you simply hoping the share price will rocket if they get lucky and produce more than they bargained on? If there was even a rough PFS model one could at least form a view of the potential and assess the risks. With the lack of information currently available it may be that 4.6c per share is quite expensive in relation to the future earnings that will be generated. I just do not know (cannot even make a rough guesstimate) and hence will not touch it.
How can this be anything other than highly speculative investing? As I said previously - shareholders may get lucky but I would suggest that less 'thinking outside the box' and more conventional back to basics common sense is what is required here. They may have something half decent but certainly have not shared it with shareholders. If they published some numbers I could form a view and decide if it is worth a punt. At the moment it looks more like gambling than investing.
OGX Price at posting:
4.6¢ Sentiment: None Disclosure: Not Held