Way Oversold!, page-113

The tailings is the great OGX mystery of 2018. We had the five 1 tonne samples through the hammer mills returning 9gpt, and a mission to feed the lot through a similar, larger mill for minimal cost, something management were relying on for immediate cashflow while they ironed out the wrinkles elsewhere.

What happened?

I speculate that around March, April, they fed a large amount of tails into HM3 and the beast pooped brown instead of gold - there's trouble at mill, or the initial 5 tonne bulk samples were misleading. I'm picking the former.

We need CIL and pronto, for Cascavel, the Cascavel tailings, Sertao and Antenna. Thus a decent sized cap raising is on its way and has been in the planning for months. No a scary proposition if RC can source a second hand plant in Brazil - here again the low Real saves us a bunch.

So in summary, IMHO I agree with our ever expanding, downramp crew on this occasion, we have to kick more coin into the cap. But if that's what must be done for 90% + recovery instead of 60-80% then I say go for it. We'll reap the rewards when gold turns...