II could be wrong but there is no 'JV' with Anglo, only a potential JV according to the ann below. If there has been an updated ann, please advise all on HC. Many thanks in advance.
The OGX ann of 13/03/2018, 'Company Update-Management Q&A', Item 7:
7. Moving on, AngloGold Ashanti is a strategic shareholder in Orinoco as well as having a potential US$9.5M farm in arrangement with the Company. AngloGold are the biggest gold producer in Brazil and clearly they see some significant exploration upside within your acreage - what can you tell us about the opportunity and what excites you the most about their involvement?
AngloGold has been a fantastic supporter of Orinoco over the last 12 months. They have an effective 19.6% ownership of our shares if you include the exercise of all our 11 cent options that came with the placing to them last year at 7 cents.
AngloGold have a wonderful mine north of Cascavel called Serra Grande which I believe is one of the most profitable mines in their global portfolio. We are currently in discussions in regards to a potential JV on exploration outside of Cascavel.
While these discussions continue we are planning our own drilling campaign for 2018 that has already commenced at Antena and will soon move to Eliseo and Tinteiro. We think a potential strategic alliance with AngloGold could be a win-win for both companies, but we must ensure shareholder value is maximised first and foremost.
OGX Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
