ATM, page-99

Just thought I would re post given the talk on AISC and grades etc

I have tried to remain fairly conservative in my estimates and make my calculations allowing very little upside i.e I try not to factor in expecting gold price increases or dollar drops even though I believe they will occur. I have not factored in any ramp up due to HM4 or increased shifts / processing of tailings / development of other mines etc and I still rate these shares higher that the current price factoring in a 20gms / tonne recovery 16 grams less than the AVERAGE thus far from the high grade samples. I have only allowed for a profit of $600 AU per ounce leaving plenty for costs / committmnets / royalty agreements and further development and exploration. Again GLTAH Happy Saturday Cheers Rb

From 5/03/18

Hi Folks
Again apologies for being so quiet on the OGX front. I have been flat out with work and will again be quiet in the coming week due to extra large work commitments. Can I say I believe the time taken to release results is a huge positive as the larger the reported throughput the more reliable the results are.

I want to declare I have a large holding in this stock and am a firm believer in the more than likely substantial re rate that the stock will soon undertake.  There has been a few questions on potential stock price likely pending any favorable announcement from HM3 so I thought I would share my conservative workings with others to help them align their emotions with reality when the announcement is made. Can I preface the table below by saying I like to be conservative in my workings and others could easily have higher targets by increasing throughput especially given the order placed for a second HM and also the potential in a second shift running tailings and the forgotten silver. There is also upside should the exchange rate move favorably and the gold price rises.

Based on this table any results above 18 gms / tonne should see Share price rise. I feel that 14 gms / tonne should hold prices especially given the ability to increase output via extra shifts and the added mill.

As mentioned in a previous post the big gains come should we hit the ASX 200 where P/E ratios can be more like 16 which could potentially double SP without any extra earnings.

GLTAH in what is sure to be an exciting week.

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8	Column 9	Column 10	Column 11	Column 12	Column 13	Column 14
1	Orinoco sp V's gold recovery rates ***Assumes a 6 hr run of high grade ore at 25 tph x 7days per week
2	Also assumes gold price of US $1325 tonne & exchange rate $1.29 Au to $1 US ie AU $1709 oz
3	I have also assumed a conservative profit of $600 AU per oz with a MC of 8x
4	I have also assume that all options will be converted therefore all equations are on a fully diluted basis
5
6		Gold Recovery rate	grams / tonne
7		12	14	16	18	20	22	24	26	28	30	32	34	36
8	Share Price	0.08496869	0.09913	0.113292	0.12745303	0.141614	0.155776	0.169937	0.184099	0.19826	0.212422	0.226583	0.240745	0.254906
9
10
11
12	Shares on issue	1190000000
13	Profit per tonne AU$	600
14	Gold price	1709
15	output per week	1050