Thanks Salt for this link. I hadn't read this release. In fact I can't seem to open their releases on the website anymore. Is there a way to read their historical releases now? In Salts link the tailing results from 2016 were lab tested and averaged 13 g/t from 100's of samples. kind of backs up the panel samples that managements from the last 4 years have been reporting. This is an insanely high grade deposit whatever way you cut it.
SirJohny, I indersfnd your frustration and the fact you have lost a lot of money. I lost over $200k when Morningstar went under. Was the same problem, good panel samples but when they went thru their Gekko mill the gold didn't appear. Cost me my marriage but I think OgX is different. Orinoco grades are much higher and this mine is brand new. Morningstar had been mined for 50+ years and today they are still trying to get it to work. Are you saying samples taken over the last 4 years are all wrong? Find that hard to believe. You must be hurting but this is the nature of this business. It's high risk and things don't Always happen when you want them to. Anyone who bets their house on this kind of deposit is always taking that risk. I learnt that the hard way.
Like I've said the problem with Ogx has been 1) poor management for 4 years 2) lack of working cap and 3) a horrible gold loan. But at the end of the day management signed up to that a long time ago and every Management team has had to operate with that around their neck. With that kind of loan you quickly run out of money and we all know when you run out of money things start breaking down and targets slip. I remember Nick Garling saying same thing to me when it all started to go wrong with Mornjngstar. Only wish I had sold.
But that is the past and its why I have confidence in the new dream team from Galena. Proven performers.
They have already got a 9 month reprieve on payments to Cardesian and now have some air to have a proper go. If Mr Crew was such an amateur as you say surely MOK would have sacked him by now. Why is it also that Mr Pinto was happy to take stock at 0.7 cents than get his $400k cash back.? If there is any loser out of this its him. Dont know how much he has already put in but guessing it's a lot. He must believe in it which is good enough for me.
My only fear is I won't get a look in with the $5m CR. I want to add more and happy she trades at 0.4-0.5 despite all this negative posting.
