RE: Oh god I hate it when I am right...Ronald Reagan’s voice: “There you go again!”
***"The capital is needed NOW at it is a clear statement that they haven't hit the jackpot."***
Well, actually it's a clear statement they needed money all right, but that certainly hasn't been a secret. They really didn’t raise all that much money in the last financing* and they have used that money for the confirmation drilling program, resource estimates and so forth.
I don't think anyone thought they "hit the jackpot" with the confirmation drilling (in order to use the historic drilling in the 43-101s) of Tavsan and Alous, testing of the satellite deposits at Tavsan and shallow step-outs. I do think that they will be able to raise the resource amounts from the Tavsan drilling (currently 350,000 ounces of gold). Don't know by how much, that's anyone's guess.
By the way, who said they were going to "hit the jackpot" with the confirmation drilling? If they are going to "hit the jackpot" that is going to come from exploration drilling to prove up the Pinson-style feeder structures which surfaced at Tavsan and in finding a host deposit at or near Alous, possibly along the fault that runs from Alous to Assif Imider, a likely conduit for one.
***”Any other observations is (sic) clearly a gross and reckless error in judgement (sic).”***
I see, so are you saying that you know – for a fact - that there is nothing there at Tavsan, Alous, or along the fault between Alous and Assif Imider? And, if you are saying that, then what do you base that premonition on?
And, are you saying that the (now) 350,000 ounces of gold at Tavsan (soon to probably be more ounces), at surface and easily mined, is worthless?
And, are you saying that the roughly 100 million pounds of copper in the known surface deposit at Alous, also at surface and easily mined, is also worthless?
And, are you saying that the likes of Dundee, Rick Rule, Gabelli, etc.** would put their risk capital into Odyssey just to go against what you, pjo have opined? That they would take a chance on this company and its prospects merely to throw away their investor’s money?… Ridiculous.
They are taking a shot with Odyssey not only because of the chance of “hitting the jackpot,” the first attempts to do so to come shortly, but also because of the resources already proved up and their belief in the geologists and consultants who have visited and looked into the results up to now and the prospects they indicate.
JMHO
*As a matter of fact, in the history of the company they have raised less than $10 million. As you probably also know, the last financing was to a list of familiar names in the resource industry and it wouldn’t surprise me if some of those same names are included in this one.
**Participated in the last financing.