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Thanks for the updates bhargav...really good to get this info...I would hope that when OMI do give periodic updates, they present them in a positive meaningful way for us long suffering shareholders. I'm sure the contents of such updates will be obviously positive to us either way. Looking forward to the sp finally getting some upwards traction after such a long decline.
Thanks for that bhargav. Encouraging for me personally that the materiality to us is acknowledged and the access to all the results.
The cynic in me believed that it’s not really in the majors interest to publicise any excitement so this is refreshing to read.
Latest response from the Agnico today:
Monte Águila is targeting to complete the require activities and funding for phase 1 to earn its initial 51% interest in the project by or prior to September 6th, 2022, as per the Earn-in Agreement. Unfortunately, I cannot provide you anymore information on the progress of the ongoing drilling and field work at this time. I would refer you to the most recent press release from Orosur on Anza dated November 9, 2021. Note also that, although Agnico Eagle is taking the operatorship of the project, Orosur will still have access to all the results and is expected to provide periodic updates given the materiality of the project for them.
Regarding future updates, we prefer that you either come through us or contact Orosur’s investor relations group.
Thanks for the info, Dr and Bhargav. It's good to see that the long-term shareholders have stayed cheerful and positive in this difficult time. Character is tested by adversity, etc.
It's like the market just forgot that Omi are still drilling Apta, which seems to be a continuous undertaking to prove up the resource and probably in next 4-5weeks expectation is they'll be an update on permits and what I expect a drill plan to be in place for Anza probably Pepas and Pupino in early January Colombia update.
Some snipets of positive news DrRemington. Good to hear. Not sure if the sp will go any lower or if this is pretty much the bottom. Either way i feel the sp is way oversold and any positive news will really move the sp up in a big way. That said i just did a top up and paid 11.4p.
Just had confirmation that there is 2 rigs currently on Apta and also that the labs have now largely sorted out the backlog and we now see improved turnarounds.
25.5p
RPdard,
Sadly, they've veto over anything we can release- official news wise, as they're paying all the money to run this show.
Its been confirmed by Brad over emails. Brad said- except a few verbal things he can say (?) as far as I know.
But, that may change soon as Brad take other projects (he seems determined to do so) on board which will be paid for by cash in the bank, and possibly warrants. The game of 8m options are also possibly to create more headroom on TSXV to level up with other peers (at least that's the excuse I've read so far), subject to our growth next year in future. Meridian, our prospective tin JV (as good as confirmed) firm are on it....
Lets see what more drama unfolds here in the coming days and months.
Interesting point bhargav re. Bod not being able to assist SP.
If they want option strike at market it’s actually not In their interest to assist SP until options tied down.
Sad observation but that’s the penny share Wild West for you.
I've attended AGM 18 and 19, and I'm under no illusion that our strategic approach was to close Uruguay and play here according to the script of the Big boys. And that's exactly we've been doing since. Newmont have no ground experience so they brought Agnico overnight who had very little experience on the grounds (Royal Road Minerals).
So, the natural call was to let OMI take the ground operation (as our team was ready with the man force we've had used in 2017/18) whilst Agnico can sort out their red tapes, gain more experience, read early signs of APTA and take over, which was sadly delayed through Covid crisis from Apr/May target time till Nov/Dec. As it is, a lot of news release were controlled and vetoed by them so far.
Tomorrow is the cut off date, we may or may not get any update, as it is now solely up to Minera and not our BOD to make news releases unless they mutually agrees to. We were roaring to follow the results of field plan upon the receipt of more funds in Sept which is no longer the case as it is now hand it over. Anza is now their baby, as I said, as per the script we had to since'18.
BOD could have done more?
May be or may be not. They're more concerned about our survival at stake, rather challenging big boys and in the absence of other options. They could have bought more shares (whether they were allowed or not, or playing safe for survival chances here).
This month, I'm not expecting much of the news, however, Brad is determined to make a few calls for JVs, said- he'll boost marketing early in the new year, but at the same time there will be challenge of 11m warrants and now 8m options to execute next year. I'm not sure how that will influence us next year(?) after seeing what Continental and Loryser has done here so far.
Apart from that- Brad/ TPI suggests to see 'ramping up in the activities and money no object'.
So, there is some hope or usual rhetorics...time will tell.
Personally, I hope to add a few at this price and the way it is going, may be even more if continue to drop to test single digits this month.
It does make it more frustration when you can't average down and i have reluctantly had to sell other investments to average down however that has been a tough decision especially with the sp having fallen for so long. Every time i buy in, the sp has fallen so it has been a bitter pill as such. Either way it is a matter of time before things start going our way, however short or long that is. As i have indicated before selling out of GGP at 1p still haunts me hence why i will stay in OMI as the big rewards are just waiting for those that can last the distance.
Hi, Vicjain
Thanks for the reply. I don't have funds to top up; but I will hold.
I think we all have varying opinions as to the sp decline Impecunious2, positive PR definitely has been lacking from the BOD. There are always bigger things happening in the background that we will never know about but they all lead to a much higher sp going forward. So despite the very low sp and decline of the last few months, i have just been topping up as and when i can as at some point real value will be realised here.
Hi, Vicjain
I agree with you that the BOD should have done better on the PR front; but not that "there is a concerted effort by bigger powers to get the share price as low as possible." It's just supply and demand, as Sotolo says.
As for calling the bottom, who knows where it will be? If it's an index, the FTSE 100 or the S&P 500, there are signs to look for (e.g. newspaper headlines, saying the end of the world is nigh), but with an individual stock, there's very little evidence to go on. I suppose when everyone posting here gives up hope, that will be the bottom. But some of us are stubborn, and refuse to admit defeat. As General Cambronne said at the battle of Waterloo, "La Garde meurt mais ne se rend pas!" ("The Imperial Guard dies but does not surrender!").
Best wishes
I don't think the BOD have been selling Sotolo, they don't have a great deal of shares to sell with their relatively low holdings, and that's another story, however the sp has been on a continuous decline pretty much for several months and to me that is very strange with 2 big players on board. Many private investors have likely sold out even for a loss with this protracted drop. I still think there has been a concerted effort to get the sp down over the last few months. That said those holding, me included believe this will come good soon enough.
Vicjain, the share price goes lower if more people sell than buy and I don’t think it is the BOD who are selling. The BOD only say it as it is, this is a very long very prospective haul, mining and making money are far off. This puts off many investors who expect some magic news now, so sell, but not us who look to the future. The share price is not the fault of the board of directors who imho have done as well as they could in extricating OMI from Uruguay. Now we are at the mercy of Newmont Agnico and the share price is what it is and it is at this price that buyers and sellers overall match also clever Brad raising cash at a higher share price.
The BOD have been useless as regards any positive support for the sp sad to say. With such strong fundamentals it is so unbelievable to me that the sp is at this level. Never expected the sp to be so low with what we have. It does feel that there is a concerted effort by bigger powers to get the sp as low as possible it seems. Either way the sp will be much higher in due course. Why would Newmont and Agnico be here otherwise. So despite the obvious pain of seeing the sp at this very low level, i expect it to be way higher as things progress. We may go below 10p briefly however with the sp being so low already, i would say the present sp is pretty much at the bottom imo
It may be bit premature to call 10p yet, nevertheless 11p is close enough.....and it may go well into single digits.
So, I can't fault that. If Bod has no substance to help PIs in the times of crisis, we're at the will of 'mercy'.
Just good at what I do more like.
You're a bit premature it hasn't hit 10p yet
Wasn’t everyone calling me crazy when I called 10p