Orinoco Gold are highly indebted to Cartesian Royalty Holdings. Prior to our MD jumping ship the two companies (OGX and CRH) had Directors in common so in other words, the left hand was loaning money to right hand (OGX) knowing that it eventually would be swamped by said debt. IMO they were also mining Cascavel with their eyes shut so they couldn't see what they were doing and so IMO (again) there was absolutely no prospect of mining enough to gold to a) get us out of the big sea of debt and b) make the company cashflow positive.
All IMO, of course so that I don't get accused of anything.
OGX Price at posting:
0.4¢ Sentiment: None Disclosure: Held
