Sorry about the rant. I don’t say much but am disappointed by pathetic managerial decisions. We keep hearing of these great finds and thenpoor results. I think it was about 6 people that visited Orinoco and they feelthe same.
Let’s look at the stock pile next to the mill. It would haveto be worth 20 - 40 million @ 10-20gram/tonne. There goes the loan and up goesthe share price. Now Anglo has been reported to be there for not two years,but it’s been about 6 years. They have been reported to have been drilling withthe old boards permission for 5 years and found that Sertao has approx 5million oz, well there another 8 Billion (love to see those reports). So as faras I can see, Anglo is hoping that the price stays low and they pull us out ofthe woods by offering a ridiculous price for a mine that would be worth $10billion. Anglo must be so pissed off that there offer for 70% of the mine for$3 million. Too bad they did not get a signed agreement before the new boardtook over.
So why don’t we get a few people, that can manage, be honestand produce gold. Now we may get the share price back to 20-30c, and that willdo me. I can sell out and get on with my life and trade on ASX with companiesthat have better management. At first new management goes great and then they find thatthere is TOO MUCH GOLD. That has been the problem from the start. It neverceases to amaze me that when a little money is around, integrity goes out thedoor. For f* sake, 6 gold traps and it took visitors to find them when managementwould have been fully aware of the problem. Hmmm, put in 20grams of gold andget out 1.2grams of gold, hmmm something maybe wrong. No let’s just keep going the way we aregoing. Then again why not raise money (original board), have a mine up the road,process gold off site (at shareholders expense) and then say maybe we werewrong at Orinoco and blame, the hold up on the wharf, transport, gold assessorsor machines broke down. Gee with over 200 employees reported on site, they hadplenty of people to help out.
I have got the solution, why don’t we hire a board thatactually goes out on site and manager the staff, hmmm that would be different.Now how hard would it be to find honest people that can manage, pick the rightmachinery for the best production of gold and put the shareholders interestnear the top of the list.
That’s it, good night
