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It's not just gold though. Tin peaked in March this year at 47,000 and is now below 24,800 today so it's almost halved since March.
The problem we have here is most stocks are at a discount right now and people are spoilt for choice. Investors will look at this company and see the bod aren’t backing Orosur themselves as have little skin in the game. This makes prospective investors wary. They will probably move onto something else.
Also gold is getting a hammering at the moment and is being crushed by the DXY.
It seems that our BODs are not yet convinced to buy at this price, and it remain a concern while they're happy with their salaries, useless globe trotting and deceitful option policy.
What good came out of from our demotion to TSXV? Volume out there is near zero everyday, though it's bit higher then Tom and Nick's investment here!
I can't see that if we get an extension into phase 2 that we won't see a significant rally. As Dr Remington states there will be plenty bailing at 1st sight of a rise/break even as many are underwater. So for it too hold it would take something special. Volume is thin. I'm assuming most investors in current climate are nursing heavy losses so profits from other stocks aren't making their way here, I personally don't hear much about anybody winning currently and of course day to day money is tight for everyone with the cost of living squeeze. There will also be a bit of uncertainty for Orosur itself. Will phase 2 be signed or will majors walk away? Quite a big ask for punters to make that bet when they have slumped from 40p high to mid 7p. So at the moment we are left will loyal shareholders buying when they can in a shocking market place and at a stage where sentiment for the market and Omi is at a serious low. Could also be that perhaps it may be wider market looking for certainty here before committing further. Orosur itself has a decent balance of $4 million and if phase 2 is committed will see a further $2 million coming into its coffers . We also know phase 2 then brings another $20m to Anza over a 4 year period minimum which would be off book. Cash burn not too bad, obviously two new projects on board might swallow up a bit though the initial terms are reasonable. Brad seems confident phase 2 will come, and it will be drill drill drill. It's a pity he hasn't helped himself to some since that interview. At the moment it's taken with a pinch of salt but with strong conviction that it will be realised. If it is the case brilliant for us, but we need to see that in RNS to be taken seriously. Some might look at all these miners that have had 50pc to 80pc as bargains. I think we are a bargain as I think value can be added here over the next phase substantially through all our projects from our poultry 14million mcap.
@ DrRemington.
Phase 2 confirmation. If that happens then the share price can carry on dropping. And i'll be there trying to hoover up as many shares as i can.
I'm buying when i can at the moment. At what i consider a ridiculously low price.
The majority are in the same boat, CGH itself has lost about 65% from the 2020 highs. The main fact with OMI is it’s flagship asset, Anza has literally only had the surface scratched with drilling concentrated at Apta, which is a resource in itself with approx estimates 1-2m ozs. If it was just us alone we’d prove up Apta, the fact we have number 1 and 3 gold miners in the world JVed with us and paying for absolutely every bit of exploration at Anza enables them to drill numerous targets. For the first time ever the north of Anza is being drilled with results not too far away. If we get Phase 2 confirmation before drill results you can guess they’re happy with what they found up there. Cue them bringing in multiple rigs and throwing more than our current market cap at it over the next few year. I think and know many will bail from here as soon as they get back even or have a small profit, in years to come they’ll look back and think B*****d, i should have stayed put. In my opinion anyway. Im here years, that’s realistically what it’s going to take to see value. A buyout is inevitable eventually, let’s hope that’s amongst a much higher gold price, directors holding ample shares and the share price already much higher from current price. I’ll not be holding my breath for the director buys.
sparkyboy1, we have all done similar things in the past ..... its how we learn our trade here.
I sold CGH between 20p to 25p over a year ogo brought into thus at about 2p and carried on buying up to 7p had about 2mill started selling them them from 38p down to 20p sold out only to put it all into a share that lost 80% in value.
I would have been better staying put lol
feels like someone has turned the lights out and locked the shop up for a bit.....
Can't believe current share price...... Hope to see fireworks with news
Seems the faithful have given up or are tetchy with the way the markets have been recently. For me I have complete confidence that we'll get some news on Brazil and a confidence boosting result from imminent holes at pepas this month. Remember these holes will have been targeted where the above 1.5g samples were taken. Seems a nice cluster of them at pepas as well. I personally think we may even get the major signalling there intent to move to phase 2 with these pepas results sometime in July. That would certainly throw the cat amongst the pigeons.....
Its a bargain basement for "PP" and his right people :)
I see many of our peers appearing to be creeping up today, is the sector about to start the recovery? Bargain basement prices for anyone with patience. Let’s hope Brad finally delivers, apparently Phase 2 will be drill drill drill. Very quiet here, not many buys going through.
Yes, considering a few whopping buys today....you never know even Nick may end up investing a fiver by 2027.
These buys today must be brad George’s lol
Change of t-shirt took 3 months+
Change of T & Cs can take even longer...so, the early we get notify the better...but, majors may push it in tune with their financial years as the red tapes to apply and approve budget of Anza case for funding to for the phase 2 commitments in advance takes time in such big companies, may even more so after the merger with Kirkland.
Over all, I'm not concerned about if they decide to go for it or not, but how long that may drag like we've had last year to kick off more of the drilling after the Sept.
And as Dr pointed out- it may not take as long.
Bottom line, the sooner the better...!
From the date they formally announce, they have upto 3 months to finalise everything, not that it’ll necessarily take that long. Payment to OMI of $2m within 30 days of the formal announcement. It can’t come quick enough, though the current prices not just specific to us but everywhere are a good opportunity for people with dry powder to accumulate if they can wait a few years, which anyone investing in explorations companies should be willing to do. Let’s hope Brad is true to his word of Phase 2 being the phase when Newmont / Agnico go crazy with the drilling of untouched areas of Anza, that’s why we’re all here. To the next Buritica and more……
Maybe I've missed something obvious, but why do you think the majors signing up for phase 2 will take 3~ months after September?
Yes bhargav , I agree with you. Although the next phase seems as though it will definitely happen, I think when there is confirmation , people will definitely buy in , just hope it’s not the same rise and fall as last September.
Wolfy,
I did said that.
And it was my open, bold, wild and hopeful/ speculative claim/ target and still is to certain degree.
But at that point, Brad was talking about transforming the company, resolving data issue (having waited 3 months of radio silence), to follow news rich period, ramping up activities (as stated in his previous RNS), Covid status- thing of the past, assay turnaround near normal, I was also hopeful that they might release some news to encourage warrant exercise to resume early (around Feb after his SA return), phase 2 to kick off 3-4 months early etc...and over all market for juniors was bit better at that point.
So, my November target may come to fruition at the scale of Brad's dog years interpretations at this rate. Nov'22....Nov'27!
If all things gel well moving into phase 2 and after...we may see bit better SP then we're at today.
And I live in a hope.
Bhargav , u still sticking to your 50p prediction by November ?
Based on past performance it can be difficult to see positives especially with the way us shareholders have just been battered down for so long, however with sentiment so low and the sp at such a low level i will go on the basis that we will get a boost in the sp as we await drilling results which i do anticipate being positive and good for the sp.
Honestly, I don't see move to upside is way probable now...even at this level, there is nothing much here to consider as strong possibility given the market sentiment of current times ..as well as "Brad".
Just one hole, bit of blip and down again.
If that news drags beyond 10th July, SP will be in 6-7p range. If it drags till 20th...I won't speculate where it could be at before that.
And I can't stress enough, Bods don't care, and you never know they may line up some insti interests at cheap just before phase 2 news(?), although TP report (again something which holds zero value to me) suggest we've strong balance sheet at the moment.
Overall, we remain in speculative times till September to day the least. And one can assess the situation after that.
Agree bhargav, his wording does have to be taken with a pitch of salt however we now have something to focus on in the near term and i do think the initial drilling results will be favourable. This should, imo, boost the sp and in the mean time before than i do see people buying in, in anticipation especially with the sp at these levels.
I do also think we will see a change in a good way for us shareholders once Phase 2 is announced with a ramp up in drilling and results being released more frequently. We just have to wait and see but with the sp at these levels, it is dirt cheap for what we have and a move to the upside is way more probable now imo
His imminent and couple of weeks values are in Dogs years. And it will just for one hole, however significant for next ones which will come in Sept and not before.
In this phase, they are not high on drilling...
And next phase, "Drilling...drilling.." may be just talk as physically, they would be spending the same amount as much as they have been for past 2 yrs (as per the contract).
So, drill drill drill is spin spin spin to me, unless I see an RNS of multiple rigs, multiple sites in Phase 2 of Colombia update.
You can't take any of his words too seriously, and in fact he has messed up in RNS too which suggests result of Pupino, when the drilling was started in April in Pepas, and as reflect in the presentation too.
In the interview yesterday Brad did say a couple of weeks for drilling news so dare i say we should know by mid July. With the sp so low we may get a decent move up in the sp imo. Time will tell but the big move will come once Phase 2 is announced. This has been a very tough hold but i do feel much better times are now ever closer.