ORINOCO GOLD LIMITED (ASX:OGX) - Ann: Operations Update - Brazil Site Visit Completed, page-29 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Originally posted by batboy: ↑

Alemond
the results are from previous drilling

see from example the diagram in announcement

https://stocknessmonster.com/announcements/ogx.asx-6A867574/

fig 1

for example drill hole CDP004
3.41 m at 38.29 g/t Au

this is real and why i believe we are only at the tip of the ice berg

when they get close we might expect to find these grades and with a vein width of 3.41 m dilution will be much reduced

games are being played and the prize remains for the taking by the astute and the brave. don't be swayed by certain posters who declare no interest but spend every day and night 7 days a week warning you away

gold does that to people
makes them greedy anddishonest

i rate it as a screaming BUY
just my opinion

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Hi Batboy,

From the figure 1 I can conclude the following:

1) The width interception and also the variance between the golds intercepts just reinforce the nugget effect of the deposit, meaning that it will be very hard to create a reliable block model for this mine, meaning that a basic reserve report will be very hard to be built following JORC 2012 properly.

2) The interception of 3.4 m is on the RL 450 and seems to me that we are currently on the RL 510 , the inclined plan seems to have about 25 degres inclination, so we are roughly 150m away from getting to this area, but also to consider here is that these interceptions have visible gold so this result does not have a very reliable meaning that the deposit has no reliable geostatistical distribution. You can check what I am saying here is true here https://www.tandfonline.com/doi/abs/10.1179/037174503225003116?journalCode=yaes20

So I really hope that they have a new mining strategy in place, I would not rely solely on this report to base any investment at this stage, this is my humble opinion. Look as a mining professional I am trying to make aware the mums and dads that are investing in mining and can lose their economies without properly researching the company. IMO We dont even need to dig this deep to justify not investing on OGX, if you check their financials it is a screaming not buy, the book value per share is zero, also the debt equity ratio, just these two numbers tell a lot about the company.

I agree with you that in some cases the geological announcements can bring a company from the DEAD to the market spots, one of the best examples is Sandfire when they intercepted their high-gradee VMS deposit, but it was a completely different situation from OGX. IMO I would not invest at this stage and would wait for future results.

The above is my opinion and I recommend all the forum participants to do your own research, also if there is any other way that I can help just ask, it will be a pleasure.