I'm not sure why you want to continue to talk up Cascavel. In case you hadn't head, the company is in liquidation and the assets have been given to a Canadian company.
But, in case anyone is using this video to consider an investment in Orinoco II or Chancery, you may well use some caution, as questions were raised by the chief geologist about the specific computer model used in this presentation, and in particular, it's reliance on one specific drill hole CDP-004.
This drill hole was a fantastic gold hit, but as Thiago, the Chief geologist pointed out, that specific drill precisely intersected a large gold nugget. Yes, it is fantastic that this gold nugget was there at all, but it still has the effect of skewing the surrounding results in a positive direction.
As mentioned, I contacted OGX with these concerns at the time and they declined to issue a correction. I then warned posters on HC to use caution AT THAT SPECIFIC TIME (I won't repost that evidence unless anyone wants to see it).
Your video raises a more important issue: If Cascavel was like Aladdin's Cave ...WHY COULD MANAGEMENT NEVER PRODUCE ENOUGH GOLD TO EVEN COVER EXPENSES?
I have no doubt there was enough gold to produce 1,000 Oz Au / month and make a profit, but not with a pick and shovel in a hard rock mine, you need the machinery to be reliable and functioning.
Cascavel has has history of fantastic gold samples and I believe all those signed off by their Chief Geologist Thiago, but WHY did management never produce reasonable gold?
Was it all stolen -(see ASX report of gold theft)
Did they not mine in the correct area?
Was it the broken machinery and bills not paid?
Why did the employees complain that there was no money to pay for repairs?
Why did a visiting shareholder and ex-diesel fitter make the following statement: "Oh my God, Look at this Graveyard"?
WHY?
I don't know, maybe (ex) shareholders will get an answer if there is any court case to resolve the matter.
Cheers,
SJB
OGX Price at posting:
0.3¢ Sentiment: None Disclosure: Not Held
