Hi guys, As as long term holder, circa late 2012, i have...

Hi guys,

As as long term holder, circa late 2012, i have experienced the lows, and lower lows, and more recently the highs of holding this stock for an extended period of time. I have added to my position regularly over the years and last October prudently, (in my opinion) sold half my position when i had doubled my money. So i think i can be objective now that i am am free carried at this time.

All speculative stocks carry a lot of risk and it's up to the individual to assess whether to invest, position size, exit strategy etc, based upon their individual risk profile an investment goals. That said, with this particular company what i have found that sets it apart from the vast majority of its peers is the apparent quality of the asset and potential growth options, the ability to raise funds in a difficult market (more on this later), progress the project in a reasonably timely manner, and attract some quality personnel to the project.

I suspect the information flow will pick up from now that the rights issue is behind us and those that haven't taken up their entitlement will kick themselves later. Whether some smart money has manipulated the share price down to the offer price to discourage take up of entitlements - so that they can soak up the shortfall - will remain to be seen.

When negotiated, the gold forward sale agreement was one of only a very few funding arrangements at a bleak time for the junior end of the gold mining industry, highlighting the quality of the project when only the best of the best projects could get funding. Furthermore, just recently the fact that a natural resources investment fund that would have an internal investment hurdle of at least 200% over 3-5 years before investing, is prepared to pump up to $14M into this company at 17 cents, is a further encouraging indicator.

These institutions would have had highly qualified analysts/geos etc going over this project with access to far more detailed data than us keyboard warriors on HC. For me this was effectively a put option to buy with ears pinned back. Disclosure: have taken up full entitlement with 3X shorfall application. Also picked up nearly half a million OGXOB's on the recent pull back in share price.

In my opinion the valuation gap between OGX and Australian domiciled projects will narrow upon production numbers, and if not, majors that operate nearby in Brazil such as Yamana & Anglogold Ashanti will see us as a potential takeover target.

GLTAH