It would be nice to see a April update on Oz produced as OGX said they would provide monthly updates. But given they stated in the quarterly may is the first month they may decide to commence these reports from May onwards. I am very curious to what April figures are, as management seem quite bullish from the quarterly.
Potential announcements in May;
-third hole diamond drill result
- results from the 9 pits in Elisio (6 done, said in quarterly these would out in May)
-update on HM3, with May production would be good to know if they are running 2 shifts a day and 12 hours a day as originally targeted in Feb this year
-update on HM4 commissioning
-update on commencement of tailings being run through the HMs.
-wasnt there some assay results coming from their own labs soon too?
If we are waiting for May production announcement that may come sometime in June. Next quarterly could come out 30th July (that will have June production figures in)
So this stock hasn't got any major Ann coming this month in my opinion and we could see share price float or drop back a bit on no news.
I won't adjust my sentiment to buy until some major news comes in or we can see them achieve the 2000 Oz for June. If they can start generating a min 1000 Oz a month I think at that point they will be cash positive for sure: and that may have already happened in the April production figures- 8 hours a day at 20 t/hr 5 days a week for 20 days in April would still be 3200 tonnes ore and at 6 g/t would be north of 600 Oz for April
OGX Price at posting:
8.8¢ Sentiment: Hold Disclosure: Held
