Every why hath a wherefore

Oceanagold (OG): Haile Mary update

(sorry, doing this on the phone, can’t embed)

Hey, remember this post back in April?


Here’s a chunkette from the script:

“…changes, framed as “design enhancements” by OGC in its February 2016 NR, are anything but that. Those that really know about these things believe Haile has turned into a migraine-level headache for OGC, with overruns in capex and timeline to production (first ore through the mill was supposed to happen 4q16…kiss that goodbye).”

Now compare that to the news out of OGC this morning on Haile:

“The results of the exploration program at Haile will be a major input into the Company’s optimisation study currently underway and on schedule for completion mid-2017.
“Over the course of 2016, the Company has increased its Greenfields exploration ground by approximately 50% from the start of the year and commenced drilling of the Longleaf target. Additionally, the Company continues to progress target generation activities with the interpretation and integration of geology and drill hole data with magnetic, electro-magnetic, gravity, and induced polarization data to identify and prioritise both near mine and Greenfields targets.”

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