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But doesn't Retoors ask a reasonable question...if you've got 9...

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ozbucheron

1,560 Posts.

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21/07/18

19:53

Post #: 34498050
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Originally posted by Peterm87 ↑

Hi Retoors,

You talk a lot about facts but provide none of your own. Instead you said:

'I pointed out in my post that there are no new facts in the announcements made this year. So when you talk about how much your beloved new management/board has accomplished unfortunately the market isn't being given any proof of your assertions.'

This is incorrect. Here are some 'new facts' from 'this year' for you to digest -

SP 1.9 to 7 cents
CR of $12.1 million dollars
Numerous drilling results
New method(hammermills) that actually extract the gold.
38,000 tonnes of tailings/development material
hundreds of metres of mine development
Exploration of our tenements
Reduction of quarterly costs from 4.7 million to 2.7 million
Reduction of administrative costs by 70%
Staff reduction from over 200 to approx. 100 staff
the purchase of new equipment - Hammermills, bobcats etc
and GOLD BEING PRODUCED (finally)

I would suggest that you read what has actually happened over the past 6 months and the numerous problems that were left by PREVIOUS management who nearly destroyed the company.

You seem to think that everything was great before we almost went insolvent - but if you take the time to read the MINING REPORTS they will show that the place was a mess under the PREVIOUS overpaid management.

The gravity plant was clearly not working and gold has been lost - that is why our new CEO has publicly stated that there is 9 - 84 grams in the 38,000 tonnes of TAILINGS.

If you have some facts please provide links to them - otherwise you are simply MAKING THINGS UP. Not that it matters, you have a right to your opinion but please don't put other posters down when you can't substantiate your own 'theories'.

Then you said:
'You see, what it really says is that they raised 8.5m in cash (but as another poster said, it doesnt look like that money has all been banked by the company according to currently publicly available information). the other 3.6m was actually an issuance of shares to the brazilian partners in lieu of other arrangements, so no cash in for OGX. '

This is also incorrect - what happened to the stated $8.5 million cash raised earlier in your statement? Has the $8.5 million cash recently raised disappeared?

'but as another poster said, it doesn't look like that money has all been banked by the company according to currently publicly available information'

Are you seriously basing your statements on what 'another poster' has said? If they are your personal opinions then you need to state IMO (In My Opinion) otherwise your statements are themselves very misleading and do seem to accuse the CEO, COO and BOD of being liars.

Finally I get to the $3.6 million that the previous 30% owners of Cascavel (and surrounds) accepted as SHARES as part of their payment (at a premium of 12 cents) due in September 2018 - this cash amount was negotiated by PREVIOUS management and I am unsure whether or not it is a good deal but the shareholders had no say in the negotiations. Only time will tell - but clearly the current BOD have done the best they could (by converting it into shares) with the crap sandwich they were left with.

This is however IMO clearly a huge vote of confidence from the previous 30% owners of Cascavel who chose SHARES over CASH.

$8.5 million CASH and $3.6 million shares IN LIEU of a debt incurred by previous management- this adds up to a $12.1 million CR as stated by the company in March 2018.

You say you don't hold and don't have a sentiment but like some other posters seem to spend an inordinate amount of time trying to 'save newbies' on OGX. Why are so many new posters signing up to Hotcopper just to save OGX investors? - what about the hundreds of other companies that have 'newbies' that need saving - who is caring about them?

Please provide links to actual evidence if you are putting forward your posts as factual.

Regards,
Pete

Expand

But doesn't Retoors ask a reasonable question...if you've got 9 gram tails why not put them through the plant? It would do two things, make cash and prove that the previous operators were crap.

Don't worry about diesel-powered HM4. Use a diesel-powered truck to haul them to the plant and let HM3 do its stuff.

If you've got 84 gram tails...firstly they came from left field, secondly where is the supporting analysis and report, thirdly shouldn't be announced off-the-cuff by the MD and fourthly why not put them through the plant? It would do two things, make bucket loads of cash and prove that the previous operators were really crappy.

Terry Topping didn't sign off as a Competent Person on the 84 gram announcement, only on the previously reported 9 gram tailings which are noted on page 6 of the presentation released 21/5/18.

On page 20 of the same presentation it said that HM4 would be commissioned in late May. Did @bid.rod see the diesel-powered HM giving the tailings a wallop?

We wait with bated breath for the quarterly report when the truth of the last quarter may out. There is no face value on which to judge current performance, just endless speculation. The truth is in the gold bars.

OGX Price at posting: 6.9¢ Sentiment: Hold Disclosure: Held
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