RE:Current Situation??I think XGC management has put itself into a unfomfortable position by making strategic mistakes. First, they lost out on the last explorer rally and did not sell out or at least raise sufficient funds. Second, they missed out on the rally that followed their announcment regarding cash flow generation through tailings and millings JVs to raise money. I assume because they were overly positive that the two JV would generate quick money - both fell through. Today they have accumulated a significant amount of liablilities and are stuck as long as none of the cash generating JV become operational. I hope that this will change with the new partners just announced and the potential third JV regarding backfill could add to the cash flow and provide relief and a good news flow that also would allow for addressing the financial markets again regarding further El Oro exploration.
Personally, I would prefer having a major company comming in at this stage . History has shown that Joan Freeze and her team are good in exploring and finding assets - however they failed in developing these assets. El Oro is a great but complex property - it will need the right people. So, XGC has great assets, once unlocked the sky is the limit. IMHO
For me the two key factors going forward - are a green light on the tailings project and the backfill contract for El Oro - if both project become viable, we will be back to 10-20 cents range very quickly. The entry of major to fund El Oro exploration would be the trigger to potentially much higher valuation.
I have accumulated XGC over the last year and will continue to do so, although a highly risky play it still has an excellent risk-reward ratio as the potential upside is very high, in my opinion.