There was nothing about the cash position or stand still payments during the presentation. Our CEO Mr Dawson basically read through the slide show mentioning AngloGold and the fact that we have now started processing the high grade stoping ore through the 'slash' method.
He also said that they were hoping for a public update before the end of the year regarding the gold production etc which has been going on since our mine restart at the end of August (albeit mostly with development material)...
From previous OGX announcements it appears our cash position was $4.2 million (at the start of November) with Cartesian stand still payments ending? and being replaced with gold from now on?...at least this is my understanding of the announcements... this would explain the 'sudden' surge in gold production.
IMO it currently seams to be a balancing act between development and production - with the shareholders caught in the middle - These are my thoughts only and as always please do your own research however our CEO is presenting again this Thursday 7 December in Brisbane - I would recommend going and chatting to him (they all have little booths that they sit at) -and best of all it is free!!!
OGX Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
