My 2 cents worth..
I agree with the polarising comments .... but it's most likely the retail investors/traders selling out, not the longer term investors who see a potential multi-bagger.
If you look at the register, over 50% of the IC is held by insiders or their associates, and they're not selling.
With regard to the "goal posts being moved", the recent announcement talking up the potential of the Sertao resource, and proving it up, was perhaps unhelpful/distracting at best. Strategically though, the aquisition makes sense as it fast tracks a processing option for Cascavel ore, and bypasses potential delays re permitting etc. Yamana's nearby Pilar mine stated delays with regard to permitting in a recent quarterly, that hopefully OGX can now avoid.
And seriously, aquiring a gold mining tenement less than 30 kilometres away from your primary project with geological similarities and logistical synergies as previously discussed, is hardly a change of focus, or latest fad chasing trend. Delisted.com.au could provide plenty of examples of those failures, such as WA gold explorers morphing into an IT stock, or the next "rare earth" producer, or a US coal seam gas explorer etc that we have seen time and again over the years.
Just my opinion, i'm sure you have yours.
My 2 cents worth..I agree with the polarising comments .... but...
Add to My Watchlist
What is My Watchlist?