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03/03/18

22:58

Post #: 31507030
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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!!

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Gone from 1c to 10c since Dec 2017? A 10x increase? Suggest you check your numbers.....

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

0 Great analysis

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General Banter and SP Thread People., page-33

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