OGX 0.00% 0.3¢ orinoco gold limited

As SJB already pointed out - way to extrapolate the 7.5 days...

  1. 1,961 Posts.
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    As SJB already pointed out - way to extrapolate the 7.5 days worth of processing and laying it as an assumptive foundation for future running.

    A couple of corrections for you - the announcement did not include any April processing.. in fact it specifically says to end of march and that issues had been addressed..?

    Secondly - delays occur. I also dont recall seeing an actual company announcement stating that a second shift had now started (I recall them saying that provided all goes to plan they will introduce a second shift for tailings? - But the only reference to a second shift i have seen is people on HC saying it had occured - nothing from the company)

    regarding april - Im assumming this will be further commissioning personally - they have indicated to try and run production ore for May. Again all going well.

    you also start your point one assumming the max ogx can run is 1 x 5 hour shift a day with zero down time.. so omg they will never achieve targets. So on one hand you indicate they want a second shift to be running.. but on the other hand they will only ever run 1 x 5 hr shift a day.. and therefor their targets are unachievable.

    Personally I dont know whether they are or are not. Management has me dissappointed at the moment with regards to timely announcements - and it needs to be addreessed - everything else they are doing mine wise seems to be going down the right track - but keeping us informed is their current major downfall to my mind.
    you also say:
    ''But we already know from the latest HM3 announcement that for nearly half of April, they have been running at 12.5 Tonnes/ hour and 1 shift a day! Lets assume OGX is able to reduce outages and delays by 50% from the Feb and March result,''
    Again - 'the announcement on HM3 does not say that at all - it specifically starts with ''Hammer Mill 3 (HM3) production of 131.4 ounces of gold in doré during 7.5-day initial commissioning run-time in March '' and "HM3 commissioning expected to be completed by the end of April, with May the first full month of commercial production utilising run of mine ore"" oh and "Key issues have been addressed to ensure optimal results when processing run of mine ore as opposed to lower grade development ore"

    Please try and use actual company announcements for the basis of claims and not heresay and chatter from forum websites.

    Other than that yes 100% agree that OGX could do well.
 
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