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The best news would be we have permission to explore the big anomaly.
Closely followed very high gold grades.
Then maybe they have sourced another lab to analyse the samples. Or they all got jabs so now it's business as usual.
Even if they say they don't. Especially being quite close to this date it will definitely be in their strategic thinking and planning. Certainly going in to 3rd 4th quarter things are likely to get interesting.
Could be impecunious2. I honestly don't know what will happen with them but I could think of a few scenarios off the top of my head. Some that would give the price a lift, some that could be detrimental to the price. I think it is certainly worthwhile keeping this in the back of ones mind. Maybe someone could elaborate further on this point. The cynic in me thinks covid delays wether by design or by chance has brought us closer to this date. The price has fallen quite considerably. Part of me thinks that perhaps it is actually in the best interests of the share near term to have this issue dealt with before the real action starts with gaining of licences, before we see considerable director buys which you have alluded too but only Loryser is going to know what is happening or is being planned. Loryser is subsidiary of Orosur as well so I would say the board of directors in Orosur will have a fair idea even if
Hi, Chicken
Thanks for the reply. I wonder if this explains why the directors have abstained from buying any significant quantities of shares. They expect an excellent buying opportunity, when this 5% is unloaded on to the market.
Best wishes.
Hi impecunious2 there are few posters a bit more knowledgeable with regards to this but mainly it stems from the closing of the mine in Uruguay. The court's stipulation was that the creditor issue was complete by September 2021. At the time the creditors accepted a 10millon share issue in Omi as payment. These are currently being held by Mr. Carlos V. C. Perez as per the major shareholder list on omi website. Around 5pc of company.
"The Agreement provides that the net proceeds from the sale of Loryser’s assets in Uruguay, together with the issuance of 10 million common shares in Orosur, shall fully satisfy all amounts owing by Loryser to its creditors, as well as provide funds for Loryser to conduct this process and manage the orderly closure of its operations. The Agreement requires Loryser to manage and complete the sale and payment process within two years, starting from the date of the ratification by the Court. The issuance of common shares in Orosur is subject to the approval of the Toronto Stock Exchange"
So we are approaching the 2 years in September 2021 but not sure what will happen with the 10 million shares. I don't think anybody really knows. Certainly not us PI's anyway.
Hi, Seingred
Thanks for the info on Columbia (as personification of US). I see that in Colombia, protestors have toppled a statue of Christopher Columbus; perhaps they'd like to change the name of the country, too.
https://www.bbc.co.uk/news/world-latin-america-57651833
Hi, chicken @8.25
Can you explain what you mean by "the Loryser shares" in para 4? I've never heard of them before.
Many thanks.
Webb's what crap. They don't need money for placing at and stating not many interested in this share is pure speculation. More likely to be a case of because we are in a period of the covid hangover with not much happening, some impatient investors such as yourself are getting frustrated.
Not many interested in this share now, been messed around too many times and as for Brad well let’s leave it at that. Might go up if they want more money for placing.
Down here after buying back in following initial profit taking. This company has top assets - guess it doesn't matter what the SP is to them at the moment as all costs are covered. Still very confident that this will come good and easily make up my current 20% shortfall!!!!! Loads of potential imo but what a roller ride!!
No surprise investor relations are so poor, I do not rate Louis Castro and whilst Brad George seems a knowledgeable geologist his demeanor on the investor call was hardly enthralling.
Then add to the mix the hiring of a bucket shop broker - hardly inspires confidence, am materially down here despite buying after the share price had already fallen 50% from the 41p high and (mistakenly) buying more around the 17p level.
I darn well hope that Brad George is not as brash and off-putting at the online presentation next week and one would hope for a crumb of positivity.
I still believe the stock is being shorted to death by suspects that are supposed to support the company, do Castro and George care about such things, probably not.
appalling investor relations from this outfit. It's almost 2 months since the last update, bid now 13.5p. Hardly surprising is it no doubt the longer the news blackout continues the further it will fall.
The lack of news here has been disappointing but it doesn't mean it's done. The pull back i'd probably even say is healthy considering its last year's performance. The problem I have near term is we still have the lab issue which we have had no sign that it is improving.
Colombia are also experiencing their highest covid levels. This is coupled with the fact that jab rate is pretty low compared to more affluent, western counterparts. Geopolitically Columbia is a bit of a **** storm also.
Now if we go back to Omi sure it seems they are still drilling but we are completely in the dark with regards to this and the grades that they are pulling out.
We also have historical issues that are on the horizon. The Loryser shares timeline is September and who knows what will happen with them. Will they be sold to the market, will an insti take them, Agnico? No one really knows.
I am bullish long term but there are a few near term variables and issues that don't sit too well with me and I am extremely bullish on this. I decided not to add anymore currently as I want to see how these near term issues play out.
I am though holding and I won't sell but for me I believe upping my cash reservoir is sensible as I think September/ October things will be clearer and hopefully pick up. Also gives me a bit of insurance if we drop further. I can add a decent tranche at a lower price if things go south. Near term I just can't call how this will go.
Could equally be 6p or 60p but more likely 10p-20p imho, presume lack of news is because management writing hopefully for better results?
I remember not long ago this way way higher and a lot of people were saying it's going to be 60p soon. In that thought I was planning on getting a newer car by June. I could afford an electric bike so far on my profit! Does anyone feel this is likely to be 60p soon? Would be nice! ??
Imp , I have never seen Colombia spelt with a u on an English language map . I have though seen it on a few rns which is pretty poor .
Heres a link as to why colombia shouldn't be confused with columbia and why many Colombians find it offensive to be Americanised . Columbia relates to north America.
https://en.m.wikipedia.org/wiki/Columbia_(personification)
(Since there is little else to discuss lol)
Best
Hi, everyone.
Just to say thank you for the five recommendations of my completely off-topic remarks on the spelling of Colombia (or Columbia, as the case may be). If OMI could produce some news, then we'd have something more substantial to discuss. As it is, I fear we may be lined up for many more weeks of discussing the finer points of language, history and politics in South America.
Best wishes.
@impecunious2 - Brad is no more in control of when news is dropped than any other AIM director - that's down to the NOMAD/money guys.
Hi, Seingred.
You were right to correct the spelling.
But it is possible to make a defence of "Columbia." The country was named after Christopher Columbus (English spelling), whose Italian name was Cristoforo Colombo. So "Columbia" is simply the English translation of "Colombia." And we do sometimes translate the names of countries; "Deutschland" into "Germany," for example.
Note also the District of Columbia in the United States, and British Columbia in Canada.
Best wishes.
I just lifted this from the GGP website, think its relevant here :-)
I thought this was a good listen but if you dont have time just listen from 13m 26s
https://www.youtube.com/watch?v=SYxkL_bhiBc
Cheers
GLA etc etc.
MEM makes an important point in para 3 of his post yesterday. But this raises the question, why does Brad not put out some provisional results, based on a pXRF scan? Thor have done exactly that this morning; accompanying the info with the warning that the figures will subsequently be corrected by lab analysis.
The sooner Agnico & Newmont take over the exploration the better; I find it difficult to believe that two such companies would allow results to be indefinitely delayed by Covid in Peru. They would fly the cores elsewhere.
Guys, it's ok, don't panic, the local spell checker is here.
ffs ,theres no U in Colombia .
Hope we do finally get some good news here very soon after what has been a very long time without any positives. I would assume they would have a good idea what they have from the initial drill cores, as you say middleEastMoney, so i assume they would have a good idea where and how to drill with the info at hand despite not getting a full lab analysis. Would be good if Brad could give us some positives relating to this. We have been waiting for an excessive amount of time for some good news.