Hi Z... No good quarter for sure... Even the guys from "I told you so" didn't expect such low numbers... I wrote an email to the company and use the word "Shock"..., disbelief....
Now what we have in our hands is a situation where no mistakes or excuses will not be allowed to be made. July is gone, therefore 2,months to perform.... How much we need to break even? 1500oz per quarter including Cartesian repayments ? I only hope by the end of the month the management have some figures to make the hard call if necessary. I thing is time to put the staff on Cascavel on notice, they have to know what is going on....
In the other hand we have the drilling program going.... And this is the main reason I decide to invest in OGX.... Cascavel in my eyes was a way to finance the drilling and exploration program. One good result from the current drilling undertaken by the Company, can solve all our problems.
So is a catch 22... From someone that don't have a clue how the mining Industry works, I only can say that when the cash is approaching your low level threshold, you put a stop on expending, work in my private life, should be apply to any serious business. Any other way will be suicide.
I don't like to blame others when something like this happen, and I really believe that management was waiting for a good spell that never came, however they need to put feet on the ground by months end and make the decision that need to be made.
Hope the light in the end of the tunnel will come to us eventually.
Good luck for all holders.
Bid.Rod
OGX Price at posting:
4.8¢ Sentiment: Hold Disclosure: Held
