$12.1 million raised in a share placement at an issue price of 12 cents per share plus a free OGXOD listed option on a 1 for 3 basis exercisable at 11 cents
• Orinoco is now in a strong financial position to target a ramp up in production at Cascavel and unlock value from our extensive exploration package
• As part of this raise, Orinoco’s Brazilian Joint Venture partners become substantial shareholders – further aligning with Orinoco’s ‘Back to Basics’ approach towards delivering shareholder value
• A $3 million drilling programme will begin at Cascavel, Sertão and Tintiero in Q2’18 in addition to the current programme at Antena and pit sampling at Eliseo • A $5 million investment programme will begin at Cascavel to target a monthly production of 5,000 ounces by year end
• Commissioning of Hammer Mill 3 at Cascavel is going to plan and a second shift will begin on March 26 • Announcement to bring the Compa
OGX Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held