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The beginning of phase two, for me, is probably the worst time to date to exit. The time everyone has been waiting for. Untouched areas about to be explored and drilled. The apparent drilling phase. All our sector are currently in the same boat, rarely any have moved positively whilst we’ve been dwindling at these low levels, it’s sector wide.
I think many here including me have had enough of the BOD here. They have been completely useless in maintaining any kind of shareholder value and have only done things to benefit themselves imo. Sadly it is the way many aim companies operate and i have seen this behaviour time and time again. That said the sp is at rock bottom, volume is non existent and we have drilling news any day now and phase 2 should be in the bag in the coming weeks. We also have a strong balance sheet and 2 other projects in the background that don't need much finance. The big boys are in charge and would not have invested their time, expertise, money etc if they did not like what they see. So despite all the negatives over the previous many months, the sp has way more upside potential now as things materialise and those catalysts are so close now.
@Isleworth. Yes i agree, once we get a bounce I'm selling and will be out of here. my patience has worn thru. There are other better places to seek out.
@ Bhargav.
Would you agree that BG's focus now lies elsewhere? Colombia has been handed over. Unless Newmont / Agnico do not take their interest forward, news releases lie with them.
If BG were to be not so forthcoming with news regarding El Pantano and Ariquemes, then i may be worried. These developments are now under his jurisdiction, unlike Colombia.
I get your frustration. Average down. We all know why we are here. Colombia!!! And the take-over bid.
Brazil and Argentina are further down the line. But should Colombia materialise as i believe it will, i won't be here any longer. And nor will you.
Jackbal-
All these TO talks or other JV progress or not is still years away....and AIM holders has no rights to vote for any decisions, anyway.
And the bottom line is it's neither in the interest of Agnico (Newmont is only passive investor) or our foxy BoD to treat Omi PIs as priority in short or long term.
They will continue to do, what they've set out....and 3-montly updates.
Brad will continue to drag for as long and slow as he can to keep his salary and perks going...!
Other problems and uncertainties are just secondary at the moment.
If you believe that Newmont and Agnico are going to sign up for the next phase in September, these prices do appear to be on the low side. If you believe it will happen, why would anyone not continue to buy. Obviously, as and when the funds permit.
The price can stay as low as it wants, for as long as it wants. I'm trying to buy as much as i can on limited funds. I think we are sitting on a proverbial and realistic, gold mine.
Bhargav i think the plan is sell the mushroom and re-invest into the carrots.
OMI will not be bought out, if Colombian assets sold he will re-invest into his other JV’s.
He is correct when he says the JV’s prevent a silly bid for OMI, they prevent a pure bid outright imo..
I remember cawkwell talking about a bid of 40p min, before arg and Brazil assets went into the pfolio. Haven’t heard him talk about a bid since, happy to be corrected
Hefty prolific purchases of whopping 25–32 shares for weeks on end must be the "bravest hearts" of all!
Is this the bottom? Are there anymore brave hearts out there?
Mushrooms will eventually sell at cheap in the supermarket with a few carrots thrown in for free by 2027.
That's what BoDs are planning, Be aware.
You heard it here first.
We get treated like mushrooms kept in the dark and fills us with s£&:
We should get an update of the July results soon............."August"!
YIP, dead as a DODO It needs resusitated.
Seems the sp is completely dead and at a rock bottom price, no volume to speak of and no real interest it would seem...for how long i wonder. It will up turn at some point probably when we least expect it to. Such a low market cap with 2 big players controlling things.....they are here for good reason. Still holding and waiting.
7.62 we need a bullet to move this north from here.
You can't compare this cr@p to anything else out there, even next door prospects,
Times are different, issues/ challenges are different, f* bod and majors running the show, and their strategy are different...BoDs motives are different, their holdings and capabilities to deliver are different.....
You can argue whatever you like.
And BoDs interest to own any shares speaks in volume. Just focus on what's for real...
Rest is just noise!
Period.
Dr, I bought omi and wsbn at similar times ar around 4 p . I have traded both on the spikes and re bought but have had more opportunity in wsbn than omi of late and currently buying palm from 7 p downwards. So very similar share prices really so will be interesting to see where they all go from here.
Gran colombia have a massive resource and aris is pretty impressive with good grades.Sector I have traded cobr too and am adding palm You compare your way and I will compare my way.
Yes, the world of Tom, Nick and "PP"s are lining up...queue is overwhelmingly long.
Big time! Lol.
Zzzzzz.....going to homebase to get some weedkiller. Absolutely hate gardening but rather do that than watch the buys roll in here :)
As sector says if any comparison is to be made it should most definitely be to Buritica, Brad has said more than once we’ll never be involved with Anza if it ever gets to the mining stage. Sector, $100m…. Joke amount end of. When compared to Buritica, Newmont being a substantial share holder should prevent a stupid bid.
Seingred / Sector, I actually hold some WSBN from 3p, jurisdiction’s are a big thing, if Anza was in Australia the market cap would certainly be much higher. I agree with sector somewhat, non of our peers have a JV like ours, anyone can argue all day about potential for this company or that company but at the end of the day when you have not only one, but two, of the top three gold miners in the world paying for exploration then that’s speaks volumes… Why arnt Newcrest jumping in with WSBN? Why arnt Newcrest jumping Wi with Antipa? Many people will say that the likes of Newcrest, Newmont, Barrick will risk tens of millions on exploration to find what they concur to be a suitable resource. I totally disagree, these multi, multi billion pounds companies are that for a reason, they don’t throw money, directors money, shareholders money away wily nilly. It’s easy to become negative at times like these, the majority of the stock market is bearish, they say never look a gift horse in the mouth that is not only relevant here but one hundred times over elsewhere. Colombia is Colombia, will it achieve achieve Australian market caps? 100% not. From trading and investing in AIM the last couple of years, recently it has all been GGP did this GGP that, I was there from the early days, not early enough obviously or I wouldn’t be sat writing this, it can and will happen again. On the other hand I held shares in African Minerals which was the largest market cap on the whole of AIM and went bust. Every single company on here are risky, the biggest single factor for me is financing, the fact that OMI have a strong balance sheet $4m plus, $2m payment is due if phase 2 is confirmed, Anza exploration paid for by the majors.. What’s that worth?? I see other juniors similar market cap to us finding everything themselves. Obviously we’ve a few other projects on our books, both of which I actually like the look of. They, in my opinion, prevent the majors taking us out for low value. 200m shares in issue, the majority of ours peers have billions of shares in issue. It’s hard currently to see positive light but at the end of the day areas of Anza previously untouched are being pecked at, if phase 2 is confirmed then it’s no coincidence. The only concern here is director holdings, why arnt they eager to put there money where there mouth is like us?? The same reason that Brads first ever interview was millions of ozs, elephant country etc?? We all questioned illegal mining, I now doubt that. I believe he was told to hush his tone, by the majors and Louise to keep permit, license and brown envelope costs down. The major holdings I have now are OMI, ORCP and GGP. Find me any bigger potential on AIM I’ll call you a lyer.
Seingred the only… And I
mean only… Thing wishbone have going for them in comparison to GGP is jurisdiction…. ‘If they turn up some good grades’ The fact is they haven’t n that is 99% of the investment in gold explorers or miners… Orosur have Apta estimated at 1-2m oz……… Why do you never compare Orosur to our neighbour Buritica which at time 3m oz sold at $1.4b??? Is COBR not a better investment at less than half the market cap Than wishbone …..‘If they turn up some good grade’ I’ve got a garden and grass looks abit yellow in certain places….. Fact is Orosur have the grades… They have the JV for free exploration… N according to Dr Rem ? From CEOs mouth xpected to spend $100m +…. Valuations ere for a buyout cos that’s what’s comin can and will only be compared to Buritica…. Let em drill all ova Apta over next year n give us $100m…. 5x current market cap… 1/14th of Buritica… What’s chance of Newmont (holding 20%) are here for same reason you do know they were in bed with Continental with Buritica …. $2m into Orosur n profit out…Newmont have no interest in Colombia whatsoever… Do they want any? Probs not the jurisdiction is too risky??? Don’t want to be affecting the good reputation they have….. staff were killed at Buritica… Increassd drilling coming very soon if north n south show similar to Apta the Chinese will come in n buy Anza n Newmonts it have 20% n can speak fluid mandarin from the previous sale. $100m is joke price ultra conservative…..gold price in 2019 when sale of Buritica around $1500 20% less than today…..Newmont not here to mine this they here to sell. $2b? Call me crazy… Why? They sold Buritica for $1.4b at a more unstable time in Colombia n less commoditie price….. Silver Zinc n Copper now comin from there….Forget GGP totally irrelevant to Orosur… the only comparison is Buritica… Newmont holding a stake… Tick…. Same postcode….. tick…. Excellent grades… tick…. VMS….. tick….. Largest Chinese gold mining company on earth next door… Tick… Company with no good grades and paying for all exploration like WSBN… No tick.
Yeah I agree I think majors will commit to phase 2 though I'm not that bothered if they walk away. I don't think they would have bothered drilling pepas and bringing extra rigs as some results are surely going to come after deadline date. AS Webb's says if the MMS smash the share price if they didn't sign up (which they would) if the majors do then surely it is also going to start significantly higher off the back of that news. At this point the herd arrive.....They've started the north, I think they'll continue with more rigs now they are there. As bhargav states this next set of news may only be a hole, as the 2 deep rigs came later, (though I also think it may be more than 1) and I have sneaky feeling we will get more than just the holes.. so will be interesting to see what we actually get. For me I've waited this long, what's another few weeks. Good time to get your golden tickets though what with wider sentiment in the sector and in the share performance currently.
Surely phase 2 process progressing is why the lack of BOD buys and other bits of news. They cant buy knowing what they know. And they cant say much while lawyers are in the throes.
Just re listened to Brad LSE webinar. It’s all pretty clear there and explains what we are seeing right now set out plainly. Esp the “6 months behind the scenes prior to any deal”
We will get some drilling news in July /aug from new locations followed by (extremely likely) phase 2 Jc announced before sept
Price action sends minds wandering but facts and fundamentals and business strategy prevail surely?
If they didn’t decide to go to phase 2 the mm’s would smash this down 50% so if they do decide too it’s got to be a 50%-100% rise. Like you said bhargav I’m not to bothered if they walk as well not as if we have gained and held anything in share price in the past years.