Is it a sinking ship?, page-65

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Merchant2000

20,601 Posts.

869

03/07/18

15:04

Post #: 34109910
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Originally posted by Humphrey2017 ↑

9xQ you said:

'Funding exploration and gold stream debt going forward will need more than 1000-1500 ounces per month'

However if you read the March Cashflow Report 2018 you would have noticed that our expenses are now at approx $2.8 million per quarter. - this INCLUDES EXPLORATION.

This also means to be cash flow positive we need about 540 ounces plus the 333 ounces for Cartesion per month ie about 870 ounces per month.

We have 30-60,000 tonnes of 'tailings' in our carpark at around 10 grams per tonne gold ready to be processed at ALMOST ZERO COST.

If things are not going according to plan then if we need to we can 'suspend' exploration until Hammermill 4 has arrive and is pumping through the tailings.

This new diesel hammermill ALONE can process up to 50 tonnes of tailings per hour- 600 tonnes per day - 12 thousand tonnes per month - ie approx 4000 ounces per month.

Any possible future CR will then be done on our terms to raise money to increase company value - not just to survive... any future JV will also be done on OUR TERMS from a position of strength NOT from our knees begging for money.

Have patience guys - Ignore the noise. Look at the big picture. Yes, DYOR and GLTAH.

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“Any possible future CR will then be done on our terms to raise money to increase company value- not just to survive... any future JV will also be done on OUR TERMS from a position of strength NOT from our knees begging for money.”
IMO
Hi Hump

No one knows what lays ahead
$3m has been prepaid which has to stand imo for something ..
How can you claim the above comments as fact
This is pure speculation and hope ...so misleading imo

Dyor

Last edited by Merchant2000: 03/07/18

OGX Price at posting: 7.2¢ Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

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