Still a relatively high market cap relative to peers and particularly with the level of debt. The exploration prospects outside of cascavel are mediocre based on results to date and there’s plenty of much more exciting exploration plays at lower market caps.
At cascavel they appear to be flogging a dead horse - and geez they have flogged the heck out of it. I’ve lost count of how many years they’ve been trumpeting the story of the gold being there and processing being the problem. Then they claimed hammer mills were the magic wand. Now they’re talking CIL as the savior. The reality appears to be they have nice nuggets but not over widths and strike length that can be economically mined at the cost and dilution levels that occur in a commercial (vs artisanal) underground mining operation.
The writing has been well and truly on the wall here in relation to the mis-pricing level this has been at - it’s been trumpeted by plenty on here.
There should be a mandatory requirement to show a strong warning every time someone presses the buy button on a spec stock on a retail broking site. Don’t buy without a plan.
OGX Price at posting:
2.6¢ Sentiment: None Disclosure: Not Held
