NI 43-101 Compliant Technical Report
694,700 Ounces Of Gold At A Cut Off Grade Of 2.0 G Gold Per Tonne
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Ontex Resources Limited > Message
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Re: What are the realistic expectation for this stock? - crazydik

Posted by: AGORACOM-GT on November 10, 2007 08:50AM

In response to: Re: What are the realistic ... by ArizonaRanger

Good morning, gents.  You'll actually note that we inserted a sentenece into the PR that all committments to the PP had been made on or before October 31 -- before the run-up.  Nobody expected the run it would take. 

"The financing was priced based on the discounted market price on October 23, 2007 and confirmation of price protection. Commitments to the private placement were made on or before October 31, involving significant investors such as the Sprott Opportunities Fund, led by Jean-Francois Tardif and recently named one of the Top 50 Hedge Funds in the world by Barron's Magazine, as well as, one of Canada's largest publicly traded resource investment firms. "

However, just like NOT's similar situation, it is a good sign when investors realize the current and potential value of the company.

With respect to % of proceeds being used for the proejct, I don't have any precise numbers but can easily say that the overwhelming majority of funds will be used to advance the project.  Ontex has a very small operating team necessary to continue the work.  No fat in the system here.

Best,
George

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Armen Chilian
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January 21, 2008

Mr. Chilian Emphasizes 694,700 Oz Brookbank Gold Deposit

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