The mine is in operation, as is the plant. The plant sits doing nothing most of the time waiting for feed. Lack of equipment is the problem, as it has been for some time.The money raised by Chancery so far has mostly been spent on paying workers out, licencing, creditors ect and not much left over for the mine. The gold sales have been tipped back in as well, this has helped, but without a working bogger, it is a battle to get feed. It looks like that problem has finally been sorted and they should have one bogger up and running by Christmas with a bit of luck. One of the reasons the bogger is needed is to clean out the sump, so the pumps can be put back in to get the water down in the areas that the higher grade material is. Chancery are on site at the moment talking with creditors and putting together a list of priority equipment now that most of the urgent bills have been paid or sorted out. Like I have said before, there is nothing secret going on and no one is excluded form the restructure, as the administrator said, for information contact Chancery. [email protected]
OGX Price at posting:
0.3¢ Sentiment: None Disclosure: Held
