What are they doing? I think that the company geologists and directors do have a plan,albeit not shared with the shareholders.I think they are banking on OSK moving forward with a deal ...JV or buyout and either way will see a mine come to fruition one way or the other...a buyout being .50-$1 somewhere or a JV turning OX into amining company.Either or would be good for shareholders longterm and a buyout an immediate return.The JV company will have a resource over 3 million ounces...only confirming Placer Dome previous work which is no longer 43-101 compliant and bluesky to move upwards to 5 million ounces.OX have acquired alot of prospective land in teh area outside of the JV which will also be worth a considerable amount once we move ox/osk jv closer to a mine.
What I don't like about the existing JV is that if OSK does not want to play ball under OX terms, and stall...or delay....or walk away...which I don't think will happen but still possible....it will leave the company handcuffed to OSK making the company less attractive to another suiter....mid tear company that would be intersted in mining 3 million plus prospective ounces.OSK has been good for OX though due to advancing the property on their dime....but are not a charity and wil try to get the rest of the company for as cheap as possible.OX need institutional support to bring OX up to .50 cents going into negotiations ...but I'm afraid that support isn't there and do question why OX has not moved into negotiations with Sprott who in the past have demonststarted support to other juniors? That means doing another cheap PP which I am not in favor of either...so there we have it ....IMO