Hi Esh Just one small thing to point out - The hammer mill...

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HairyRichard

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18/04/18

18:38

Post #: 32536375
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Originally posted by eshmun ↑

"DYOR and read the Updates yourself - READ BETWEEN THE LINES - this is the birth of a mining company - it is slow and painful, with lots of screaming - but IMO it will all be worth it in the end. GLTA."

This is the longest delivery in history. It's seen out one obstetrician and any number of Brazilian midwives.

"Hammer Mill 3 (HM3) production of 131.4 ounces of gold in doré during 7.5-day initial commissioning run-time in March (i.e., average of 17.5 ounces per day)"
Assuming they can keep this clapped out system working 365 days per year at 17.5 ounces per day, that's 6,387oz per year. Yes and before anyone tells me about all that high grade ore that's down the mine, I know. The last management didn't run any through either and now this management seems to want to make the same mistake or maybe it's just not there in the quantities (widths) that makes this operation viable.

So far the first part of my sincere opinion has come true. Back below 7.5cents (price at posting 10.5cents).

"Have a good break and I'll be hoping for my 16cents (I'll take 15cents) before the end of the year. Given what I've seen and understood since they went back to basics I sincerely think the price will never get there however. More chance of seeing my last entry price of 7.5cents again IMO and there is also a reasonable probability it might end back down with very little support and back in the hands of the secured creditors. Esh"

https://hotcopper.com.au/threads/im-lost.4105120/page-61?post_id=32135302

I sincerely think the second part of my prediction will also come true so I'm not at all tempted to buy back the stake I sold. In fact I've changed my sentiment from hold to sell.

Everyone makes there own choices when investing. Good luck with the choice you make and yes DYOR and do it thoroughly. Esh

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Hi Esh

Just one small thing to point out - The hammer mill recovered 17.5oz per day but it was only running at half capacity. I imagine doubling the 6koz per year to 12koz per year isn't absolutely game changing for you but probably worth knowing.
Thanks for taking the time to write something this time

OGX Price at posting: 7.3¢ Sentiment: Buy Disclosure: Held
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Hi Esh Just one small thing to point out - The hammer mill...

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