Ann: Quarterly Activities Report - March 2018, page-41

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rose3014

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30/04/18

18:55

Post #: 32779024
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Originally posted by Humphrey2017 ↑

Hi all, this is a fantastic Quarterly Report and this is why....

Here is something that you may have missed in the 'Cash Flow Report' that is a VERY BIG DEAL...

Go back through the previous years and you will note that previous management were spending up to $4.5 million dollars a quarter on 'suspension of activities' and $750,000 plus on staff/admin etc... almost nothing on production!?... ie they were wasting our money...

Now have a look at the next quarter expenditure if you want to see what is about to happen to this company....

Staff/admin WAS $839,000.00 and is now DOWN to $372,000 !!!! over 50% reduction !!! Clearly we had some 'extra' employees that have been retired.... nice one...

But where is the all the money being spent you may ask?.....$2.5 million on Production/Development/Exploration - exactly where it should be! ... well done to the new management team... keep up the good work!

Remember we are building a mining company here... do not sweat the daily SP.... this is a monster in the making...and do not fall for the short term day trading fear mongers that are lurking about and I am sure will soon be looking for something negative to say... GLTA

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Agreed totally. I noticed the staff and admin cost reduction today but could not get time to post.

Clearly the new management team have done the good job in cutting cost as well as well manage the cash flow.

P.S. instead of buy order i have hit "sell" for a small parcel today silly me. I hate my phone ((

Last edited by rose3014: 30/04/18

OGX Price at posting: 9.2¢ Sentiment: Buy Disclosure: Held
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Ann: Quarterly Activities Report - March 2018, page-41

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