News: OGX Orinoco Gold updates on strategy to recommence operations at Cascavel gold mine, page-32

Hi all,

As the BOD has still not resigned perhaps we should allow them the weekend to reconsider their performance....below are some memorable extracts from OGX Company Update (Friday 7 October 2016) prior to their Trading Halt (2 days later) on Monday 10 October 2016:

BELOW WHAT THE COMPANY PUBLICY STATED 2 DAYS BEFORE PRODUCTION STOPPED -

'First Gold Shipment from Cascavel as Ramp-Up of Commercial Production Progresses'

'Orinoco’s Managing Director, Mark Papendieck, said the project was now in a fine-tuning and adjustment phase following the successful completion of commissioning in August'' ...SUCCESSFUL REALLY?​

“With processing of production ore set to begin during this month, we expect to see a steady increase in the amount of gold recovered over the coming months,” he said. “We are also switching shortly to a site-based assay laboratory, which should give us greatly enhanced capability in terms of our ability to measure the performance of the plant and fine-tune its performance.”...INCREASE IN GOLD RECOVERED? - ARE YOU SURE?​

'another milestone in the ongoing ramp-up of commercial gold production.' ..WE ARE RAMPING UP PRODUCTION?​

'So far, mineralised development material processed during the commissioning phase has resulted in the production of ~8kg of gold bullion, making up the first shipment. Further gold is contained in residue and tailings that is expected to be recovered in the future'...THAT SOUNDS GOOD.​

'As planned, approximately 7,000 tonnes of development material was processed during the months of August and September with the circuit now running at its nameplate capacity of 15 tonnes per hour with plant availability approaching the target rate of +85% for the month of September to date'...GREAT NEWS, I AM ALREADY PLANNING MY RETIREMENT!​

'Gravity recoveries from the circuit are currently estimated to be around 70-75% and Orinoco is working on a range of refinements to the circuit to bring recoveries closer to the design specification of +85% '...CAN'T COMPLAIN.​

'Processing of production ore has commenced in October with the plant feed to comprise a blend of production and development material until the underground mine is fully ramped up.' ...STILL RAMPING UP?​

'The Company is also in the process of finalising arrangements to bring all assay laboratory functions to site to allow for faster turnaround and improved quality of assays for material being processed through the plant'...ARE PLANS FINALISED YET?​

'The ramp-up of production is continuing in the mine with production material currently being delivered to the plant for processing concurrently with ongoing development material.' ...WOW STILL RAMPING UP PRODUCTION! SOUNDS GOOD.​

'Over the December quarter the focus in the mine will continue to be on development in the high-grade Mestre zone and also to continue deepening the Main Incline Shaft to increase the availability of development headings in the high grade part of the mine.'...SO MUCH GOLD TO DIG OUT...SO LITTLE TIME.

Wow that was a great update.

I miss those updates...apparently they didn't match too closely what was actually happening but they made me feel better. All that ramping up of production, all those shafts, thats were all the money must have been spent...

This STINKS to high heaven...lets leave it for the weekend guys and then how about we RAMP UP the pressure on this outrageous BOD to do the right thing and RESIGN.

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