I have been a long term supporter of OGX and continue to be. We need to remember that in the real world, genuine company expectations can fall short of those that are communicated (both externally and internally), and occasionally they can surprise on the upside. From my perspective I think the company has been genuine, despite some previous predictions subsequently being proven to be optimistic.
They have obviously had difficulties and are doing their best to get back on a level playing field.
They have clearly learnt that high expectations and deadlines are ill-advised.
Companies have statutory obligations for reporting, and I'm sure they will comply.
Any business needs to have less expenses than income to survive in the long term, and I have no doubt that the days of largesse are long behind us.
A least we have lower operating costs in Brazil -especially when the fat is/has been trimmed.
I keep in mind the exciting brownfield targets with known mineralisation of Sertao and Antena-Xupe, and also the exciting Greenfield targets of Eliseo, and Tintero.
Cheers,
SJB
OGX Price at posting:
6.8¢ Sentiment: Buy Disclosure: Held
