Just being realistic here, but I don’t think the gold price has been overlooked.
IMO we need to be producing significant amounts of gold before the gold price applies to us.
Some may say that it must be a positive factor for future mining, but no because we don’t know what the gold price will be at that time and also if the other tenements, open pits etc are even viable.
I have to at least admit to myself that this is a chancy investment at the moment.
I am relying on a huge turnaround in the way of production this month when they produced 219 oz in the last quarter.
I would not usually take this chance, however, I have followed ogx closely since Dec ‘17’ and yes it may even be a partially emotional decision. Not good I know.
Ever since Feb I have been waiting for high grade ore to be milled and now they say they have finally started.
I must say that it is difficult to take their word when they have been irregularly announcing their progress, but I am giving them the benefit of the doubt one last time.
As for announcing 100 oz in last 2 days of July, I am also giving the benefit of the doubt and will believe that this actually happened.
As for the set-backs, I am giving them the benefit of the doubt as well.
Whether it’s a strike, a flood, lack of training cooking motors, breakdowns, a volcano, a meteorite storm, bottle-necking, wrong parts delivered, or even the need for CIL, I will be selling.
6 months of waiting has been long enough. If they can produce over 500 oz, then I will consider holding.
OGX Price at posting:
4.6¢ Sentiment: Hold Disclosure: Held
