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mark79bond

1,339 Posts.

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16/04/18

09:07

Post #: 32471998
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Originally posted by VivaLaVida ↑

There's just no pleasing people (aka HC posters) sometimes! The past couple of weeks OGX management have been bagged and undermined from many angles:
Snout in the trough: referring to the performance rights - reality was this relates to an employee scheme initiated by the previous management and is being used to incentivise and reward key staff in Aus and Brazil.
Selling out: implying "those in the know" were selling out before the bad news hit - reality, Joe Pinto bought 1.4m shares this week (perhaps even slowing or damming the price from falling further).

Now people are crying unfair inside trading.... gees, how about we all calm down and wait for things to pan out before getting all out of whack??

1. Management have been telling us all year that the hammer mill solution is working and that grades are good. The recent advice in late March that the second shift on HM3 was starting confirmed it had been commissioned and bedded-in.
2. The upgrading of HM4 from 25t/hr to 50t/hr told us they are confident in the hammer mills solving problems with liberating the gold.
3. Ave g/t reported grades have been:
- Cascavel: 54.08, 38.86, 36.68, 25.33, 25.93, 44.19, 31.42
- Cuca: 31.70
- Tailings: 9.27

IMO, the past couple of weeks has been all about rattling holders into selling, but they've been jumping at shadows that aren't there. It's understandable given the difficult path travelled over the past year or so, but I think those that can shut out the naysayers and concentrate on reality will be rewarded (I'd be lying if I said I also wasn't concerned, but I reminded myself of the above info and drew on past experience of market shenanigans and decided holding was the best course to take).

Once the CR was announced, it made sense to me that we would hear very little until the CR was closed out. And this was the case. No sooner were we advised on the issue of securities, then we were told that results will be reported this week and the chairman has bought shares on market (ie he has faith and so should shareholders).

Let's now wait for the next results and leave the ASX to worry about inside trading (if there is any grounds) (I don't take inside trading lightly, but I just don't think there's anything to be found here to concern holders - but that in part needs to wait until we hear what's in any announcements that happen this week).

Looking forward to good week... hopefully with lots of green candles!

Expand

Well it certainly didn't please me when I saw the SP drop to 7.6 on Thursday. Where does it all stem from? No news on HM3 when we were told we would receive monthly updates, comments like 'shortly' and lack of clarity in ann's for a start. With no news + lack of clarification = shareholders left only to wonder.

OGX Price at posting: 8.9¢ Sentiment: Hold Disclosure: Held
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