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0.3¢ orinoco gold limited

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wilfran1pm

1,215 Posts.

1687

03/03/18

15:35

Post #: 31502749
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Originally posted by U3962521 ↑

Share price doubled the last month period
Since Dec 2017 it's gone from 1 c to 10.5 c or 1000 percent increase, so the growth curve has slowed the last month.

Plenty of potential good news still coming:
- results of hammer mill 3- this us the big announcement coming as it will indicate grades recovered on a much larger ore body
- the additional 35x1 tonne sample results
- confirmation of purchase of hammer mill 4: will be seen as a positive regardless if it's 25 tonne or 50 tonne an hour, as it will double the ore processing capability.
-increasing to 2 shifts or more for hammer mill 3 and 4, can increase production by 50 percent for each mill
- announcement on operations and finances; whether a further credit raising is needed or not. If they announce not due to high grades then mine is self sufficient financially
- confirmation of terms of the additional joint venture with Anglo gold and further discovery activities.

If the announcement coming on hammer mill 3 is we have mined 25g+/tonne on anywhere near 1000 tonnes of ore then they should have close to 1000 oz of gold. But I assume that announcement will also give indication of the ramp up of hammer mill 3 to more shifts, maybe ramp up to 12 hour days 5-6 days a week. They might also announce the purchase of hammer mill 4 in the same announcement.
- there are still the reprocessing of all the tailings from previously, where only 1-2 grams per tonne were recovered. The samples of tailings show upwards of 8g/tonne avail. So several million is sitting there. An announcement saying they have commenced processing the tailings then another on grades recovered will really blow the sp out if the water and confirm the previous management and processes in place werent working and the new back to basics and new management are working

- after all that's its just the ongoing discovery of new gold deposits and ramping up production, hammer mill 5 to hammer mill 10.
- increasing from 1000 oz a month to 2000, 3000, 4000, 5000 oz

Hoping the next announcement puts the share price to 13-15 cents...

I think we will have clear guidance on whether the company's self sustaining my may or needs a further CR. Production shpuld include at least 2x25 tonne/hr mills at full capacity by then too. Potentially a 50tonne for hammer mill 4.
2x25x10x5 = 2500 tonnes a week of ore. At 10 g a tonne =25000 grams a week(800 oz a week), if 20g/tonne=1600 oz a week.

These are huge numbers but you can see what effect a high g/tonne recovery rate gets you.
Cascavek 35x1 tonne samples has given a 35g/tonne average so far!!

Expand

Gee these OGX threads have become a bit boring since q*9 and bevter were put in the naughty corner. I guess for excitement I'll just have to wait for the SP announcements now. Maybe I should start watching TV again in the mean time.

Sorry guys, I am only joking. Thanks U3962521 for the excellent FA summary. I like that fact that the BOD and company management have been suitably incentivised as well. The one essential thing I check as a Technical Chart Trader when considering speculative stocks is the HC posters view of the companies BOD and Management. Please correct me if I am wrong but all seems good in that area with OGX.

Good luck everyone.

OGX Price at posting: 10.5¢ Sentiment: Hold Disclosure: Held
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