George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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i think i need an eye test i can see some blue numbers
Yes a long time coming but very encouraging, could this be the beginning of the much awaited rise back to the high 30s I wonder, we shall see yehaaa
Great to see a few chunky buys after a long drought...!
depression or cyber war.
All shares go to heaven or hell
A few survivors can't buy or sell.
Without a smart robot
They can't
The short would be a good call after the spike.
In spite of Brad I did buy a few today. I was going to start building a spread bet too but IG no longer accepting long bets, usually a sign of the bottom in my experience.
I thought it would see 5-6p, not sure it will fall that low now so just started to bring physical avg back down.
Will prob drop to a new low given my trading ability in this stock to date
questions I would really like Brad to answer at next Q&A
1. If a bid was made for the Colombian assets approx what % of cash would you expect to return to holders?
2. How can you describe dilutive activity as “free hits”
3. Why are UK AIM shareholders (your largest % holder collectively) locked out from voting and why bother wasting their time asking them to vote I first place?
4. Why have you awarded yourself lowball options for a couple of long winded/yet to be funded JV’s that have helped the SP decline and could prove to be failures?
Hi Chicken, I think with the Chinese just down the road makes this an even more important play and us a takeover target so all to play for. Brad and the rest of the board dont want to buy shares when they can give themselves shares as they have. Pretty crap but thats how it is
Brad has intentionally turned it into a long slow burner with all the funding/dilutive headache purely to suit his own agenda and SP been decimated as a result.
Was a very different looking animal 18 months ago.
The whole “free hit” comments from Brad were extremely and I believe intentionally misleading.
Having major partners is always somewhat of a double edged sword in that it is rare for two parties goals to align perfectly.
We have the benefit of wealthy partners advancing our major project and paying us for the privilege in exchange for a share of ownership. The downside is that they have no interest in advancing our share price if their ultimate goal may be to eventually buy us out completely.
We benefit from drill data that tightly defines and incrementally advances known reserves by small measured amounts, our partners merely want an idea if the project is going to big enough to warrant all the drilling to tightly define a very large reserve, and as such, at this point they will be inclined to be looking for different things in different places. That said there will still be a requirement to release market sensitive information when it becomes available, be that drill data or contractual agreements to commit to the next phase(s) of this joint venture.
Myself, I am resigned to the fact that this may be a long, slow "backburner" type of shareholding but one of relative safety compared to the norms of the exploration sector.
Bhargav, whatever reasons/excuses the board come up with for not buying shares, the fact is when they have been free to buy shares they have bought pathetic ammounts. Any serious investment advice always draws attention to how much skin the directors have in the game. Yes we have majors involved but very little actual sway on what happens.
Lets see what happens in sept.
I think it is clear to many long time holders that key info has been held back and this to me is just a sign that Newmont is fully in control and want to restrict into until they have more of a strategic holding here...that will be very soon imo...I am fully confident Newmont/Agnico are happy to proceed with things so for me this is a hold/buy as we await solid newsflow and a subsequent re rate in the sp
Everyonesawinner that's the whole point we are here but the problem is we are not getting key information. The biggest infringement recently for me was permits for the north being sat on and the market were not updated and even on asking via email Brad was not entirely straight about it. Don't know what the big mystery was there. It was quite a key piece of info. So while our share price has fallen, key information that may have helped it has been kept back. Not saying we wouldn't be in the same position having known that info but any sentiment that we could get has felt like it's been quashed, nipped in the bud. Any tool that could help us not being utilised. Drilling has being going on in the north since late April/ early May and we are in August still without any results. Approaching a deadline of phase 2 and not heard a whisper...Brazil has fallen off a cliff, directors can't be bothered to dip their hands in their pockets with some members sitting on a big fat zero shares. I could go on. Things are not transparent at present, I'm still waiting for rich news period...I would like to think things will change when majors have more of their foot in the door but as others have alluded too, it's not going to be cheap to move two projects forward...any wins we get at anza may be countered with losses at new projects such as poor grades, delays and financing issues. Will phase 2 be a clean slate, only time will tell.
With the small number of shares in issue and the lack of free float shares available any hint of a tier 1 or 2 find and these prices will be a drop in the ocean. That’s the reason I hold and will try to build my stake. GLA LTH
New money will come into Orosur when Phase 2 is announced….. The impatient will leave who expected the share price to be flying now… Blame Mr George n the board but the markets n junior sector tell a different story…… Covid kicked in at crucial time also… Exploration int no overnight barn dance…. More rigs comin in n increasing gold price will reintroduce sentiment here…..
BoDs have several list of excuses, why they can't buy. But currently, they may not be allowed to add any for right reasons. Having said that, I doubt if they will buy any...particularly if there is any spike at price from this level after the price sensitive news is being anticipated or realised ...or they've insti lined up in parallel to grab a few to raise funds.. (which will inevitably come at some point). Cash in the bank and $2m gift can only go to some distant, once they start working on other projects plus spend money to support costs to get the office and staff going. And that's it.
$5-6 mil dollar will be fuel to get further ...and another raise will come. No question.
Secondly, there is absolutely no reason to believe, we are at ridiculously low price now...we are just at mid August and between now and 5th Sept, SP can easily test 6-7p, if not 5-6p.
Also in September, although we do expect some news flow, which may help SP to climb up a bit...I don't see that as fool proof, as number of us will be selling it on any spike we may encounter again as a gesture of relief to escape from here..and we are too many now to drag it where it is now or even lower even with some update of any good grades or not...a bit of spike and many will abort the ship and rightly so.
I agree with Sotolo, it's not news flow ..but quality and consistent news and other X- factor that helps sentiment and SP to climb and sustain...without quality substance, I believe, not much will change now, in a month or years to come...imho.
Anyway..,
Believe me Chickenlegs my faith in OMI has been sorely tested over the last few months and with hindsight i wish i had not got into OMI with the way things have transpired over the last year or so. With 2 big players on board, a positive cash balance and a massive project in play, how can the sp be where it is...unbelievable...but we are now at such a ridiculously low sp. I really do not understand why the BOD do not buy shares at this very low price unless they are in a closed period as such. I do think Brad is restricted from giving drilling updates to us due to the agreement set up. But still he has done nothing positive for shareholders accept getting a couple of smaller projects on the books but even they are lacking any real positive news. That said we are due so much news and I do think come September we will be in the picture in a big way and the sp will be worth way more than now. Simply Newmont/Agnico know what they have and eventually we wil benefit in a big way once news is released. Selling up now is just not an option for me.
Vicjain your so faithful to the Omi cause. I once was so bullish. I know that it's not all Brad's fault but the only thing I'm interested in now here is results and some kind of escalation of works and drill programs being made public. To me it just seems they are doing their own thing and Brad is powerless to do anything about it....and for shareholders like us it's no good. How can Brad expect his loyal shareholders to believe in a project he seemingly is in the dark as much as us? How can he expect his loyal disciples to continue buying when the directors own diddly squat (for the position they are in)?
I think Phase 2 will bring much more news. The lack of newsflow i think is due to Newmont restricting info. I really can't see any other reason for such a drought of news so for me it really is about Phase 2 being sorted out. Sometimes i think we would have done much better without Newmont on board ironically however we are where we are and just a few more weeks for a big turnaround imo
Must be sitting on results. There is no way they have been drilling and not had anything back. I expect a decent impact from phase 2 right enough but if it's going to be a black hole of news and waiting months and months this is going nowhere fast.
Totally right mate, the worry I have is that I don’t think confirmation of phase 2 will have as much of an impact on the share price as much as some people think. And the turn around of assay times is awful. If we had like a six-seven week turn around time like ggp do that would help. I realise they have more rigs going etc.. and it’s a total different situation , but I wish there was more of a structure with the news flow and not blatant LIES!!!
Wolfy he's full of hot air and can't be trusted. Personally I think someone else could have faired better. Time and time again he spews rubbish that never materialises or does in the longest time frame possible. Take Brazil for instance. That took a year nearly. And to think to he tweeted the Brazilian nerve centre about two months ago about how they are itching to get at it and low and behold....silence. He really has to pull a rabbit out a hat for me. I don't care if he is a good guy and responds to emails....I want to see this utopia of news flow and change which he promised and as usual has not delivered.
Why does that Brad come out with bull**** time lines again and again and again!!, he’s so uninspiring, never fills me with any excitement , every time he comes out with something it’s the usual **** of how activities are ramping up. Where is all this price sensitive information , where is the heavy news flow , did u confuse July with august? ,
Thanks Brad for your daily bread. I rely on this now as I can't afford to eat after investing in orosur :p
This may continue to drag without news till 5th Sept, so another 3 weeks...long time at this place and a few are already fleeing.
7-6 and 6- 5p next.
Thanks f* Brad.