OGX (ASX) Cascavel Gold Recovery Considerations

Originally posted by DiamondJoe ↑

What some here forget (or have yet to learn) is that commissioning a gold mine is not as simple as putting together a Leggo set. Plenty struggle to get off the ground due to a whole variety of reasons - and that's the risk of buying in at this early stage. More prudent investors put their hard earned cash elsewhere, or wait and watch until a new mine shows 2-3 quarters of cashflow being positive and stable.

Orinoco is no different: Months of commissioning problems, lack of funds, and negative sentiment making it hard to raise more money to stay alive. However we few who remain have a chance of excellent gains if the company turns around, and Orinoco has every chance of doing just that. You BJB believe otherwise. You don't have to justify your investment decisions to me and vice-versa. I've done some numbers, and I feel comfortable at this point to stick around and pick up a few more shares at the lows. I'm not encouraging anyone to do the same so I don't feel compelled to share my thoughts/predictions at this stage but I will say that CFP is achievable, near term

Expand

Agree DJ, can only imagine what BJB is banging on about now that he is on ignore, but certainly makes the thread a little more civilized.

I am very cautiously optimistic, we've been here before with seemingly impressive Twitter posts and details of what is planned, which due to the factors you mention in your post result in what the market sees as further broken promises, hence the negative sentiment.

Agree that this can turn around quickly. Will it? Too many variables to know with confidence. Important now for JG to release confirmation of grades / throughput / production following the much needed tweaks to the plant. Radio silence will be telling, but equally, showing real progress will help turn sentiment and investor confidence.

Doing so should avoid another $2m draw down on the Magna funding, should be avoided if at all possible. But the funds are there as a last resort.

Finally, in my line of work when someone resigns for 'personal reasons', it's usually anything but. When I saw that it was Anglo's Board representative it intrigued me - more to play out here and I don't think that is a bad thing for us embattled shareholders.

Enough from me. GLTAH

Unc