The "5 million ounces" comment relates to Eliseo. At about the 6...

The "5 million ounces" comment relates to Eliseo.

At about the 6 minute mark in the May 2018 video presentation,
JG mentions the "massive conglomerate structure" 20km north of Cascavel
(without naming Eliseo at that point - although it would have been on the  screen largely out of camera range)  and says:

"Anglos are privately saying there's 5 million ounces sitting there alone"

JG also comments in the video that Eliseo may be too large for OGX to develop by itself!!

Some people have asked why Anglo haven't done this or that - such as launch a takeover while OGX has been "down".

There are at least 3 relevant factors to keep in mind here:

+ Despite them being so "large", everybody in these companies is usually still working flat out
and they can only deal with a certain number of project analyses and decisions at a time;

+ A very important factor for these companies' managements is to avoid any "egg on their faces" or ever looking stupid
- that could be career suicide for them,
- this means they will prefer to act later when there is no longer any risk of looking dumb if things were to go wrong;

P.S. That is a big advantage that we retail investors can have over the institutions and corporates
if we are prepared to go in earlier and run the risk of looking a bit silly occasionally
while we can be making larger gains on our good picks;

+ These days large mining companies are in effect outsourcing much of their exploration to junior miners lkke OGX
because they see that  as a cost effective way to do exploration for the longer term.


IMOO,
All the best,
T