Potential JV with major and OGX future, page-14

SO ...I can understand many holders getting pissed off at the recent events and throwing their hands in the air (I worry that many may cut their nose off to spite their face -but we all have to decide what to do).

BUT ...what I can't understand is -where have all of OGX supporters and confidants gone?

All companies have their large investors and the supporters who are close to management (I've never met the humans ...so it's not me) and have a better understanding of the inside story.

Hmmm ...are they all keeping quiet so there is a larger shortfall (as others have suggested)?

I think it is logical that the closing date will be delayed ...but I guess it is likely that this would be announced after the meeting tomorrow ...because there is not point delaying something that is yet to be approved.

I also think that it is reasonable that we could get further news (one way or another) of the JV proposal after the SPP has been approved so that our capital structure is defined and medium term liquidity secured.

While on the JV ...WUG your point about majors looking for fully JORCed projects is quite reasonable, but I think it is also reasonable that a decent major with a MC in the billions may have a portfolio approach, where they have most of their portfolio as large safe projects with uniform (JORC) mineralisation that secures the balance sheet, but also have 5% or 15% available for higher risk / higher reward plays such as Cascavel with considerable evidence of potentially very high grades.

I think the drama and panic of the situation (I didn't sleep well knowing my investment was in suspension) has caused holders to gloss over the information of the December announcement. Anyone who says that there isn't substantial information in the recent announcements has been reading a different one to the one I read -it is full of substantial, believable and tangible improvements and also explanations of the cause of the "myocardial infarction" that OGX is recovering from:




I genuinely wonder whether there have been some shill posters trying to scare everyone from taking up their entitlement.

Please ask yourselves if the discussions about a possible JV would be in the prospectus if it was false. Would management risk time on the inside of four walls -and what purpose would this information serve anyway? Can't see it.

My assessment is that OGX were given bad advice, had hopeless (OK let's say inferior / inexperienced) mining, processing and assay providing providers or employees / contractors, and little money ...resulting in the implosion.

They have provided the opportunity for everybody to participate (all I have asked of companies for years -check my posts) in the SPP and if we get:

• More substantial information regarding the planning for the recommencement of operations.
• Confirmation of the JV.
• Delay in closing date for the SPP (won't affect me personally).

Then I will feel some vindication.

A couple of other points that would be very significant under normal circumstances:

• We recovered another 6kg of gold (taking the total to 13kg).
• The tailings were confirmed as having 4 g/t (good grades there).
• 92% of material processed was mineralised waste.
• And very imortant to the longer term view:
  
  The last hole completed in the campaign was designed to test the down-plunge extent of Cascavel, and intersected the mineralised zone 1.2km down plunge at a vertical depth of 380m. This hole, CDP 052, represents the deepest hole drilled at Cascavel to date and contained a three metre package of quartz veins and sulphides related to gold mineralisation. ​

So let me open my google earth and see what that looks like:

The yellow line approximates 1.2 klm down-dip ...to me; this means that the end of the mineralisation is not in sight (look where current mining operations are) ...no wonder a major is interested



Cheers all,

SJB (comments or questions welcome)