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From what I've read, I'm expecting the result of only one shallow hole drilled using the last rig mobilised from the Apta. Again the timing of that is questionable as technically we are not due for another update till Sept (once every 3 month rule). If it does, then..."We are not allowed to publish news" is another spin imo having claimed the "protocol issue resolved" in Feb jibe.
Anyway, if we do get an update on one hole, and not backed up by other substantial info on the drill plan of the other 4 or phase 2 JV kick off....I'm not sure whether it will sustain any rally.
I don't doubt that phase 2 won't go through an approval of big boys board. It is just fine tuning with their end of the year financial year may drag this till last minute or day.
As majors are also drilling with 3-4 rigs in North, and I don't see why would they resume phase2 talks earlier then its due by 6th Sept.
Personally, I don't mind even if majors walk out now tbh, I'm sure zijin can buy us out for 100mil mcap now, if not more. So, phase 2 news, in a way is least of my concern, as we have $4m in the bank, we can also start Apta to resource as another choice.
Apta, is good enough for us to get going.
Omi can survive without majors.
Lets see.
We know we are sure to get another Colombia update sometime in July. If it was just a hole or two from pepas, even if good results I'd be happy at the results but disappointed that there is not much more information. It's not inconceivable that news around phase 2 may be included with this, or some kind of plan for the northern area. A phase 2 extension and a significant northern drill program announcement would fire this. Brad has only divulged that it's scouting in the north so far with 4 rigs now. I want to know how many metres are planned to be drilled/ being drilled etc. We used to get this info? Surely there has been some communication re phase 2 going on currently also. Can't imagine the majors will wake up one day and go we are extending or not on the day of the deadline. They should have enough data from all their sampling etc and it's 8-9 weeks or so off a decision so I think everybody should have a fair idea what's going on or will happen by now. Apart from us of course. So for me I think this next Colombia RNS is going to be a big one either way. Only my thoughts however :)
Agree bhargav, positive sp movement will be based on good newsflow but i do believe positive news is now so close and with phase 2 in play, i do expect a better sp going forward. Hard to believe that things will get better with the way the sp has just fallen continuously for so long but a turning point for the better is coming imo
Our SP this year will only move, if we see-
Phase2 news kick off earlier then 5th Sept..
Permit news comes through..
Assays of first drill at Pepas this month follows by the second one in Sept shows attractive grades..
RNS showing drill plans for more areas with multiple rigs in Sept/ Oct...
And if news flow improves...(without which, all as listed above won't work either)..
Apart from that, it is what it is and not defying any logic at this stage despite of poor status here...
Our so called directors (as shown in their holdings) knows that...
Alternatively, wait till 2027 in yoga posture!
Very true Impecunious2....At some point the value will show here despite all the cr@p we have been put through as shareholders. The present sp defies all logic to me but it is a product of many negatives which do appear to have all conspired to trash the sp for now. With the impending news due over the coming weeks, i do think the value will return here and when the sp does start the move back up, many will be jumping back in more than likely. There is a tendancy for people to jump on board when they feel the sp is on an upwards trend and not much longer to wait for this imo
It's just a matter of hanging on, doing some other things with one's life, and trying not to think about the onscreen losses. We've been here before, and this too will pass.
Sector, I say wsbn is a. Better comparison for ggp because of it location in the same jurisdiction. If they should turn up some good grades it is pretty likely that they will be approached. I am primarilly interested in capital preservation. I sold some wsbn on a recent spike for 13.75 having added some extra at around 7.5 p in april . I have since been buying them back below 10 p . I dont see these kind of swings with omi currently and have enough omi for my liking.
As regards the majors, it now becomes obvious that this is a double edged sword tbh and perhaps I have less trust of these majors than some. Is it better to own 100% of your project and raise 30 m or basically give 75% of this multi billion ? For 30 m ? Not sure the answer is clear tbh to me. Aim is news driven and we have 2 levels of obscurity.
When using gold companies as a reference I would suggest looking at other current tsx colombian goldies. Perhaps start with gran colombia, that hold 44% or aris and 36% of denaius. Massive resources paying a dividend and is the largest producer in colombia . Has a m cap of £221m Aris m cap£144.
Try looking at outcrop and fennix oro then explain how this had £1 a share by lat year christmas or , even 40 odd p this year. Its dreamland imv. I would say from here downwards is worth a punt on news of next phase but personally If I bought any soon I would be looking to unload them at 12 p to de risk . Good luck everyone with their differing viewpoints and fingers crossed.
Well, can't complain for a trader who bought 66k shares at the close today. Lol.
We need more bravehearts!
Sadly the 5 pound buy is five more than the directors have added in a long time...
Brad is a poor man that’s all he could afford, it was some shrimp for barby or a fivers worth of his company stock.
BODs topping up, leading from the front.
Wtf, 5 pounds worth of buys, this is a joke.
That’s why I was so pxssed about the options and fact you weren’t even able to register protest votes.
Means he has no need to risk his own funds, what’s the point of risking real money when you can create options that are in the money above 13 with no risk.
I’m guessing nobody else contacted nomad and that’s why AIM rolls on the way it does…
We all have a moan and then get to the point where you realise you’ve been very silly and just can’t be arsed.
This will do 5-6 range I’m pretty sure and stay low until 2nd phase is 100% confirmed.
I’m willing to try again and attempt to average down if it goes there with a gamblers mindset, I understand that others will wait until phase 2 is confirmed to offset risk but I will have to avg down if 5/6. My logic is would be no point me holding a 17 avg if I’m not willing to buy at a third of that price.
Got caught up in this before the JV’s and before the options and voting. Didn’t like what I saw and now will try and trade out of it min. 20p this year more hopeful than confident of seeing 25 this year now.
Fair enough if you intend to stay with this for years but I’ve seen enough of Brad not to to trust him with the sale of assets and I trust him even less to pay cash out to holders with his new projects ongoing.
If holders couldn’t vote against options how would they have any say in assets disposal/cash in bank?
Seingred is speaking sense it's clearly a red flag that the directors aren't willing to dig deep in their pockets to back themselves. Are they skint? Doubtful they are on way more than the average Joe holder. Do they not rate the asset? I doubt that also. This was the asset to bridge Uruguay production but has been steeped in delays and majors don't come into the fold if it was poor, especially early doors when there was elephants in the mix..so what is it? Seriously. Are they trying to keep on the good side of the majors as this critical stage? Personally that's what I think it is. Publicly they'll never divulge that tho. So higher level politics and we must cede that Newmont are the major holder here so there must be some amount of pandering to keep them on side. Brad talks about it being a hard story to tell. It's not really...there is other ways to tell this story and a more savvy leading figure would be squeezing the juice out the lemon and backing himself... he's telling it with the brakes on. But I don't think that Brad is a)stupid or b) unaware. I don't know where that has come from or if that will genuinely improve into phase 2. We will find out with these pepas drills and also if anza is all that. Despite our directors....if the majors sign the dotted line then we know in our hearts that the area is attractive and must be big or at least the potential to be big. I do however see Brazil being a joker amongst the pack. If we ever get news plans for it. It would be quite easy to get some much needed revenue from there if we ever get the news we started it that is.
Not going against what you say Seingred but…. Wishbone no way comparable to Orosur. We have JV with 2 top 3 gold mining company’s on planet….. Paying for everything…. Proper drilling campaign about to kick off…
We’ve had Apta…. What they got Red setter…..
Seingred-
I agree to certain degree with you. Personally, I don't see them walking away at this stage having spend all this time, money, APTA being proven, and so much efforts into the due diligence, research and out post code, plus they've increased drilling at new areas. They won't be spending $200k on any deep drill/ hole.
My concern is BOD is dubious, and certainly don't hold any trust based on their track record, skin in the game as well flaunting lies after lies.
All those jibes- I'm not rich, I hold sensitive data, they are in a hurry, ramp up activities blah blah are getting too old fashioned now.
Majors, are not here to take Anza to production overnight, they've another 8 years for that, and I understand their stance to spend relatively little to scalp lease wide areas to collect the information on overall estimate of resource at potential may not change much in phase 2, as technically they've to continue by spending $4m/ yr or so like they've been for the past 2 years to keep their earn-in rights clock going as per the contract, and new negotiating terms may not change much to support the rhetoric of drill, drill and drill, but more of the BOD's spin, spin and spin with end less dictionary of excuses wrapped differently.
Plus, Agnico have been very sneaky in publishing the data despite of so many samples collected and assessed in their own labs at Colorado.
So, whilst we're still in the Colombia and the way things are I won't compare this even to Buritica, let alone any other projects out there.
One can only hope, for things to change a bit better in coming months with some relaxation of transparency, clarity, and future plans, but you invest in here at your own speculative risk and not BOD's (they're covered all the way to the bank)!
So far BOD has been spot on....don't invest here at 45p (only £80 mil mcap)....as it will go down to the dumps and they knew it.
The whole market is trashed but last year when £1 targets were being bandied about I did say to be careful buying too high also said peeps that bought into ggp above 30 p as in here would be lucky to see that price again any time soon. These shares are very speculative and many have got caught up in the we are like ggp narrative which I dont agree with . I see wsbn as a better bet if you want a ggp relative. Use colombian based explorers m cap to give a comparisson. I have said before , I hold calibre , a mid tier in Nicaragua and nevada. They are spending $20 m on drilling pa,and 18 rigs they have a m cap around £300m producing 250 k oz and $90m cash and debt free. Some have got sucked in here a bit I think . The majors may yet walk, no guarantees so I agree if we progress to the next phase that should help the sp hopefully. Just depends where it gets to before that.
Low bod holdings is definitely a put off for many serious investors. If they are successful mining operators why cant they afford serious holdings ? Any investment advice goes along the lines of , how much skin in the game do the bod have. Bit of a red flag.
What happen to the permit update (land access negotiation and water extraction) at Pepas and Pupino without which we couldn't drill before April? Are we drilling illegally out there?
What happen to the land negotiation which was allegedly at much advanced stage at Guinramala since the coffee harvest was over to release cheap labour?
How come permits for other key areas is continuing to be at the advanced stage for months (something which was due to complete by early 2021, and only delayed citing to the Covid reasons)?
Another spin...
If majors are only allowed to update us once/ 3 months, how come we're due to some update in July, when technically its not due till Sept? So, what changed?
We started to drill at Pepas using the last remaining shallow rig of Apta in April. How come RNS suggest the next pending news is due for Pupino instead?
Come on Brad, tell us the truth before you shaft another lots of 900k options again!
i wouldn't hold my breath i remember the last buys they made....pocket change
Get your in hands in your pockets Omi board. Let your buys do the talking :)
Nothing will change here much, apart from some silly update on one hole news this month or before Sept.
Any consecutive update on drilling won't surface until September for sure.
Stupid Brazil update...does it matter?
Stupid Uruguay closure update...does it matter?
One shallow drill news on Pepas (not as messed up in RNS as Pupino) may excite a few traders for a couple of hours...and that's about it.
They simply don't have enough to disclose anything significant to help the sentiment....
How many people attended the meeting? None, to my knowledge. And rightly so.
Will our deceitful BOD put their hands deep into pocket?
Agree zapsnap...when all are pessimistic...that's the time to buy...we are so close to the bottom if not already there imo...I also made the mistake of coming out of ggp around 1p before the mega rise thinking all was lost then, hence why I cant let this opportunity go especially when we have 2 big players on board and so much big news imminent
Over the years, i have observed that when the following are true, we are normally very close to bottom:
1. The majority/all of genuine LT holders are frustrated and annoyed. Many (understandably) will sell.
2. The company has real and genuine potential.
i have felt for a few months that we are pretty much there and hence my buys at around 8.5p. yes , i could get them lower now. i am thinking back to my time in GGP when i had been holding but sold way to early. GLA. The next 6 months are crucial and my patience is also running thin.
Does seem many are so pesimmistic here now, understandably. With the sp at mega lows and i guess most are in the red including me, a bit of positivity could do wonders for the sp and see many getting back in. Still holding and still expect big news in the coming weeks and with drilling news due in a few days for starters. Depressing times for OMI but the downside now is very limited and the upside is way more probable now imo
I don't blame the person who sold 150k shares this morning.
That's what you get when you're invested here in faith and scoundrels are running the show!