It sure is dipping now, looks like its going broke

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The Goose

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13/05/22

17:22

Post #: 61398574
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Originally posted by chokdee ↑

Hi smallfish.

10 million is very little (50+ million to prove up a quality resource worthy of exploitation fine by me - project finance and medium term payback is only possible on defining a quality resource - 10 million goes nowhere in W.A. - AUS these days unfortunately).
The company is not holed up - however they are drilling a very large amount of air core and diamond drill holes on a number of locations and not silent - reporting to the market those results and plans from those results (remember there are 5 large gold mines in the area and they did not just go and start a mine - they did exactly what Odyssey are doing at great expense).
The highway is of zero concern at present. The company is only drilling to understand the trend. They have now stated a drill plan to encompass 400m east to where they have uncovered good results - which if that drill campaign yields good results - further diamond drilling will take place but that is a very large and deep pit that could be mined for 20 years alone without issue to GWH proximity. Who knows later - look at the Kal super pit - they have just found another million ounces by drilling in pit which they say can go to 3 million ounces and will be mined by underground mining.

The GWH is a brilliant asset - it is right beside us for lower CAPEX/OPEX should we ever progress that far. And underground mining under the highway is a possibility way down the track. It is absolute premature to discuss the re routing of GWH.

Gold exploration is generally a long term investment - to prove up a suitable average grade of gold (sometimes copper/silver credits) in a suitable host ground - with low strip ratios as in waste to be mined and dumped elsewhere/infill later. Only a small portion of mined tons make it to the crusher - refining circuit. Odyssey are working hard to find that on a number of high targets and with board invested heavily and adding they have far more at stake than many and of course a strong indicator of their belief - but no guarantees of course.

I'm very happy to follow their progress over next 12-18 months and add on the dips. Especially when it is more overall market issues dropping the SP than company activities.

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It sure is dipping now, looks like its going broke

ODY Price at posting: 4.8¢ Sentiment: Sell Disclosure: Held
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It sure is dipping now, looks like its going broke

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