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But then again, could they have prevented the governments messing around with licenses etc, Newmont buying Newcrest, the majors dragging there heels. Once it’s back in there hands they’ll be no excuses. Each to there own Johnstoneo, many will bail many will stay. If you hold a large amount you’ll be here a while longer than you’d like if you hold a large amount as if lots are trying to bail at once then it’ll be impossible to sell as Bharat has been trying to explain.
Yeah I have to agree the board if they had any credibility they lost it when the project went into care and maintenance. They also lost the last shred of trust they had when phase 2 was on and then it wasn't. Very much the rug being pulled. They cannot expect any shareholder to be happy currently with what we have had to content with.
Still getting the project back in their hands, in my book is a HUGE deal. I know they've been vocal about it, but until that is official it is hard for people to commit and buy here due to the trust/ credibility issue. Zero volume tells it all.
No one can say with certainty how the market will react on a positive notification here and announcement of drill program but there lies the opportunity....
I think the next step for a lot of us other than crossing our fingers is to wait for news on any sort of deal or partner, average down and get out once the new money or herd comes in. What year this will be is anyone’s guess. Most can’t just sell out and bugger off as we are so far in so it’s not an option.
Bhargav it’s seems like we are in a similar situation like many others but I’m not sure the AI bots comments are going to make any difference. We know what is happening with these silly 2,5,7,10 share buys. We all know how everyone feels about the team. Let’s just not expect much and be suprised if something good comes off all this then we can all leave this company and move on.
Less guessing and more facts and news needed that’s for sure.
Good post Johnstoneo, yes the trust from investors towards to board is almost zero. They’ve done nothing to benefit us whatsoever. Though as Chicken says they now have a fresh start on a project deemed to be tier 1, with extensive field work to hand, Pepas a walk up target already showing top grading from surface 150m at 3G/t. Apta predicted to be 2m oz plus. My guess is they’ll start drilling, show the audience what Pepas has to some extent and then find a partner. They need to do some special to get shareholders back on side, I think many are too far gone and will bail at the first opportunity. I’m sure new money will fill the void amongst a all time high gold price and Colombia moving in the right direction.
I'm missing the confident 2, 5, 7, 9, 19....trades today. Maybe AI bots are hiding behind them and paving the way for BoD to their next spin of webs!
Goody bag is still up for sale.
And market knows this....so somberrrrrrrrrrrring. Zero credibility!!
I personally think one of the main issues is that the trust has now been lost between Omi and us as shareholders. Only people benefiting from the situation are the people getting their wage. People can keep comparing Omi to other sites and companies but fact is now no one trusts Brad and what he says is all fiction and things he says just kept getting swept under the carpet. Let’s remind ourselves of the assey results that were delayed over Covid. Never to be seen or heard about again. The results that were so good they had to be sent of to be retested. Never to be heard of again. The list goes on. I know people are trying to be confident about what might happen but it’s just guessing. Let’s wait for Brad to spin the next line
Seingred makes a valid point re finance but the problem is Anza is technically not in Orosur's hands 100pc so I think it's a bit early to be talking "they don't have a JV partner to fund it" etc. Like Dr says there, I am sure they have had discussions with other companies. Perhaps no company will touch it also, of course that's a possibility. None of us know.
It's an ideal "shovel ready" plot with 30 Million already spent on it. It has also just had to two biggest miners in the world exploring it. Newmont's priorities changed, Agnico? Seemed to want to cut a better deal but Brad doesn't want to? So either Brad does want to go it alone, Agnico aren't really interested, Brad is trying to put pressure on Agnico for better terms of the have another company lined up?
It will need more finance to prove it up. I know much was made that it has to be a major with deep pockets but I think a company who are in the producing/ exploration game, perhaps with mines with short duration, no cash burn, making money but wondering where to go next will be looking at Anza. Especially if they are Colombian/ South American based.
Orosur's are on a new journey and they haven't jumped through the 1st hoop. It's the end of an old era and the beginning of a new one. Much has been made of the raise and the discount but I think folks are more annoyed at the timing more than anything as they out foxed us on that.
Same old story for a few days now....can't sell more than £400 (16000 shares) in the open market.
I wonder how long it will take to flush 34 million of AI bot trades??
Scammers at its bet.
I’d say no, neither are good comparisons. What asserts has CNR got... La India has a resource of... They are way ahead of here. Outcrop, are they even on the AIM market? Orosur are basically starting Brad new exploration solo on Anza, something they’ve never done before. Obviously the majors have spent 30m plus on exploration, which hasnt given out too much to the public which was there intention all along. A hell of a lot of field work, sampling has taken place with 150 staff on site at one point that’s where, in my opinion, a lot of the 30m went. The sampling on previous thought untouched sites the market as never seen, even in care and maintenance they had a few Geos still on site. The majors released as little as possible during there time here. The data is now in Orosurs hand, the secrecy will be long gone. I agree there will be dilutive along the way which is expected with exploration at this stage. Here’s hoping the board find someone to help with finance if Anza is deemed attractive enough. For all we know the board could already be in talks? Most of it is guesswork at the minute. The cost of Anza coming back will be nothing up front and payment years down the line, Brad has reiterated this is the last few webinars. I agree finance is the main factor here.
Dr, yes we agree that the j/v avoided the need to dilute . Well not quite. However, very little of value enhancement was achieved during this time and now the confetti printing has started and will continue. This placing shows how little they can raise and the astronomical cost. 25% discount and a full warrant share per heavily discounted share just reflects the weakness of Omi position. $500 k will achieve naff all and there will be another raise this year. It still remains to be seen what costs will come with divorce. Would agree that collective and Omi are totally different beasts , one with respected bod that can attract the finance needed at no discount to prove up multi m oz resource. Peeps here talk about multi m oz resource as if you can do it on a shoe string. I just cannot see how this bod raise the needed finance and the recent placing us pretty good evedence of that.
I have never seen a placing at Cnr with such a discount or a full warrant attached. That is a company that is a reasonable comparison as far as I am concerned.
Outcrops recent placing doesn’t appear to have a discount either. Still not a decent comparison?
I find the majority of the AIM market do placements at discounts. To be fair to the Orosur board to dilute 9% in three years... You’ll have hard on finding many if any on the AIM market with any less dilution in that amount of time. Still only, and I do say only again, comparison to a hell of a lot of other AIM companies Approx 220m shares in issue. We just need to see the board lead from the font now the noose of the majors is not around there necks. They have no scapegoat, no excuses, nothing left now. Regular director buys should be expected if they believe in Anza as they have always expected the market to. Seinngred I know you’ve shot people down for comparisons with other companies and I will do so with yours and Collective. They are a total different beast,I wish my money invested here had been put there instead. I’ve been following them closely and very much like how they operate.i know Brad obviously has as well, let’s hope he takes this on board and carry’s it forward.
Here is collective recent 18 m placement to do 40 k m drilling. No discount and a half warrant per share
https://markets.ft.com/data/announce/detail?dockey=600-202403040900CANADANWCANADAPR_C8874-1
25% and a whole warrant is giveaway and only equalled by hopeless cases like alien.
Dr I’ve just been reading all these years and just trying to average down as when but watched the price keep falling trapping me in. just kind of excepted that one day it may come good if we still have the jv partners after care and maintenance but when that changed. My mood changed and started to open my eyes to the fact this share is a total joke. I prob will have to take another chunk to get out but not until we have a partner. I’m not telling people not to buy I hope they do I’m just frustrated by the whole situation like most. Hearing the same comments over and over becomes repetitive.
We are all waiting for this famous rns and until then it’s just guessing everyday. It’s all been said and no point repeating everything.
Hi, Dr
Thanks for the reply.
Yes Imp, but in our current situation, with nothing really happening Orosur were never going to raise at zero discount. Maybe deep in to drilling if Anza proves to be as tasty as we all think then they may get financing like that. Though this is AIM, 25% discount is almost the norm. HE1 recently did a raise at 30%, Alien Metals last one at 29% for instance. The different is if they raise on TSXV the max discount is 25%. Hopefully they find a funding partner of some sort to progress Anza.
Dr R I can assure you I will be selling, most probably with a loss. Just don’t want to sell out of sheer frustration close to low (I did actually buy around 2.2 already and still hold it). As we’ve discussed before exits are a dish best served cold.
I hope I haven’t offended anyone here too much. My beef is with squarely Brad and Louis and any company where the bod are trying to leverage an asset for their own personal gains above the SP.
They need to significantly up their game to even appear a tiny bit credible.
How much has been spent on Brazil?
Don’t tell me….500k ish? Lol
Dr R....
I think people are going to be surprised when Anza is handed over even the most bearish. I hope Johnstoneo can get his money back. They'd probably be better adding now and getting that average down so they could escape, especially if as they say they are in high teens.... even the sensible posters, ones who have been consistent say at this level are saying it is a good punt.
Perhaps that is not an option though for them.
The problem is not issuing new shares as such; it is doing so at a 25% discount. Other companies (e.g, GMET) are able to do a fund-raise at zero discount, which then leaves the share price unchanged, everyone happy, and the management with money to carry on drilling.
The problem here is that the reputation of the company is so poor, or the tribulations of the company are so great, that the managers can only raise money at an alarming discount. And of course, things are aggravated by their refusal to put their own money in.
Well when the main asset has been sat in care and maintenance for 12 month with no exploration and it’s looking like that’s going to change fairly soon then why wouldn’t you be fairly positive. It’s no coincidence Johnstoneo that you’ve turned up out of the blue, apparently held here for years but have never posted throughout yet your now constantly on here posting all day. Maybe just me thinking it suspicious.
It doesn't baffles me, in contrast it's silly to suggest to anyone here to bail when they hold so many shares for so long..
AI bots are not adding at super discounted price despite of their master's are claiming to get 100% back and to drill Pepas in May. That suggest, placement has been manipulated.
I tried to sell 100k this morning and now, and I couldn't...so selling large amount in open market is duped too.
Yes I hold way to many shares and if I could bail like everyone I would but over the last couple of years I’ve just come to realise that this share is just a joke and I struggle with the people just defending Omi and talking of amazing recovery within a short time period.
The money will run out, you could say that about any company, anyone, anything. They’ve got enough in the bank for a years worth of salary, they’ve got the £500k ish from the placement for the immediate drilling of Pepas once Anza resolve comes, they’ve got the warrants at 4.45p... Do you hold a large amount Johnstoneo? Not seeing any sells, not sure why the doom and gloom merchants aren’t bailing when they are so bearish? Sounds to me they are just trying to get the share price down to buy. If so many opportunities to make quick money elsewhere, if I had zero confidence here I’d have no hesitation at taking a loss. Baffles me at times.
Hope so johnstoneo then we can all get on with our lives. I wish we could all just sell now. Rubbish company hi
Jack Al has hit the nail on the head. Enthusiasm drains as weeks go by and no talk to dreaming about directors buying will make a difference.
No comms and no deal says it all. The money will run out we all know this.
I voted for 50p....but it didn't count!!