Casey wrote on 19-10-2010......in his ("very exclusively") "Casey Investment Alert" the following. BTW: I´m not a subscriber of that (because I can find "my" stocks on myself) so please don´t ask me, when he recommended OGR in the past but it is a long time ago, maybe June 2009.
Don´t understand me wrong, I´m not a basher but I´m waiting for NL-sellers tomorrow again. Preferred SP CAD
< 0,36 and I´m not going to hesitate if some shares coming out. That would be an additional buy because I own a lot already. That information only for understanding. In my opinion this is a very good buying opportunity and under normal/some circumstances perhaps the last in the coming days/weeks.
But here read the Casey comment for yourself and DYODD:
CLOSING POSITION—OGR has mutatedfrom our original speculation. The original idea that RC drilling wasunderreporting gold grades at the Trinidad project turned out to becorrect, but none of the subsequent drilling has delivered the longintersections of high-grade gold mineralization those first holes led usto hope for. The project does have merit, with the mineralized areagetting larger with each set of drill results, but the main high-gradepocket remains modest, and most of the new intersections remainrelatively thin or lower-grade.
The companyis delivering more near-surface gold hits, and Trinidad may well becomea mine some day, but we don’t see a world-class project here, so OGR isunlikely to get taken over and would likely have to dilute shareholdersa great deal to develop the project into a mine.
The assets brought in through the merger with OroSilver (V.OSR) are interesting but don’t improve the deal much for us –if we were that excited about them, we’d have bought OSR, separately,before. We may reenter this stock if management finally find thehigh-grade feeder zone they are looking for, or something else changesfor the better, but nothing we’ve seen thus far makes us believe that’simminent, so we’re cashing in our chips after giving you a chance to doso first.