Short answer, high potential when production is up to scratch. They used tailings to commission HM3 at one shift a day at half rates. Thus the 130oz was basically a bonus not a reportable production guidance. Now with HM3 running it will be fed high grade and run at full rates using two shifts. Add to this HM4 which runs 50t/hr (yet to be commissioned) and you can see where the value is.
Estimated ASIC is <$700 AUD.
12 million cash is to ensure we produce 5000oz/month by end of year.
All the best.
Sentiment: is still hold pending proven HM3 grade/rates.
OGX
Price at posting:
7.9¢ Sentiment: Hold Disclosure: Held
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