Stard, now I understand you're negative comments. You sold and trying to convince yourself you did the right thing, Well you did. Although you could have made more profits you could have bought back cheaper as well. That's done. But looking at the future.
OXT is very speculative at this stage. Will their tech work and will it provide value for money? And how will it compare with competitors? These are questions we need to ask ourselves.
The agreement with OZL is their first serious sale. If it works, I presume OZL will extend the contract. Also if it works as expected, it will be much easier to sell new contracts with other companies. It's as simple as that. OXT provides, or hope to provide, quicker, cheaper, results for drilling assays. One thing is for sure, this is the way of the future and who leads and is successful at it is to be determined. I gambling OXT, particularly with their soon to be commissioned GeoCore X10+ will be in the midst.
One thing, Stard, I think you miscalculated, is the time their money will last. Historically $6m/ yr has been more than enough for expenses. More contracts will mean more expense, but that will also mean more income. Your example of the last qtr's 5B is not a fair example of what is happening IMO. I believe being newly listed caused extra admin costs. Plus the Investing costs you highlighted are not to be taken as ongoing expenses. OXT have said that they will build new machinery when needed, thus most of these expenses were only used to build new machinery as required for their contracts. As will be in the future. So they cant be treated as ongoing, although I hope they will be seriously added to.
I believe, that $1,5m/qtr will be enough for ongoing expenses and only new contracts will cause these to increase. Thus with over $12m in cash last qtr, $2.5m new contract, we have enough cash for 2 years.
Now it's in the hands of the tech and the ability of OXT to sell it.
OXT Price at posting:
9.9¢ Sentiment: Hold Disclosure: Held
