Good question Markeddo ...actually the total from last year was 13kg of gold (7kg initially plus a further 6kg) -Where is it I wonder? We wouldn't have sold it /...cause we didn't really need the money -just get more from Anglo if we need it (in exchange for the rest of the mine?).
So by my calculation's ...we have now produced approximately 610 Oz of gold in total which equally just over $1M at today's price. Not worth celebrating perhaps, but considering this all came from the "gravel end" of the ore spectrum, probably not too bad.
If we consider 40,000 tonne from @ 15 g/t (assuming the JORC is a good approximation), this would approx equate to $34,650,000 in gold @ $1650. Not too shabby.
And this is from one shift per day so far!
Not bad for a company with a MC of 16Mil, and an EV that must be almost negative (when the mine and the processing plant and equipment are considered)!
So in this quarter, we are planning to pay over half a mill in staff costs, $237k in admin, $425k in Gold Stream Standstill payments (which cease after we exceed the production threshold) ...and we've just paid over half a million in pure costs to raise $5mil (as we decimated the SP).
Everything is fine ...clearly no hurry to process any high grade ore and start to get rid of this choking Gold Stream debt.
I agree Humphrey ...what is the benefit of a low share-price ...unless it is to facilitate a low takeover offer (or perhaps as obfuscation to avoid suspicion regarding the 60% discounted cap-raise and subsequent SP capitulation).
I would like to know who is really in charge of this show? -and who is spending the money? -and who is it being paid to?
We must have a massive pile of high-grade ore sitting on the ROM waiting for the all-clear from the corporate lookouts (local garimpos might be "sorting it" for us) .
Happy days!
SJB
OGX Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
