Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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Lovely summary posts mamba. You have literally echoed my thoughts completely.
My mistake, got muddled up Mamba.
DrRemington the fact that Agnico takes over the drilling would be worth it of an RNS. We know that they are the most qualified to progress drilling at polymetallic, gold rich, VMS deposit. Agnico Eagle’s own flagship VMS mine, the LaRonde Complex, (‘LaRonde’) which is located in the Abitibi region of north-western Quebec. The experience Agnico gained from working with such mineralisation is now providing Orosur with important guidance regarding next steps to be taken. Brad is a bit shy with issuing RNS. By instance we did not know about the addition of a 5th rig.
I agree that we are de-risked to some extent and in more a more favourably position to other junior miners given that we should not see this year another placing and the JV partners should continue to fund the drilling at APTA and the other targets.
I find it really unlikely that the JV partners could decide to stop drilling following the conclusion of data from APTA. We know APTA was not the best target but because of permits and accessibility it was chosen first. The picture from the initial 2,300m drill program with two rigs to the current almost 10,000m drilling program with five rigs does not suggest JV partners who are not happy with what they are finding.
Just a reminder to new and potential investors:
APTA was drilled first due to workings and mining permit.
• Aragon Fault is the primary structure
• Positive drilling west at Charrascala
• Best geochemistry at Guaimarala – but not
yet drilled (planned early 2021)
• Excellent geochemistry at Jesuitas but
cannot drill until its secure applications are
converted to granted licenses (planned
2021)
• La Cejita – massive geochemical anomaly,
untouched until applications are converted
to granted status (2021)
Some good posts here this morning, the RSI is, once again, in seriously oversold territory, probably enough to attract some bargain hunters.
The fall from 42p has been relentless but on low volume, therein lies the clue, it will go back up equally quickly on any volume spike.
Add to the mix the market has been lacklustre to say the least, to the point a number of well healed traders are taking a break altogether, one suspects anyone buying OMI around current levels will do very well when sector sentiment and liquidity returns as it surely will.
We know that the licence and application package at Anzá contains over 20km of strike of the Aragon Fault, which is thought to control mineralisation at APTA, and potentially a similar strike length of the N-S Tocuman Fault that may be the primary conduit from the La Cejita intrusive complex to the north of APTA. However, almost all exploration work undertaken thus far by the Company and previous operators has been focussed on roughly 500m strike at the APTA prospect with some minor work at Charrascala. Much of the remainder of the licence package remains essentially untouched. Thus, clearly there is plenty to be done here and finding a project of the same quality is not going to be easy.
However, we have seen re-rates in share prices in other companies following the purchase of projects which may or may not live to the expectation. Look at Xtract resources, Wishbone gold and Pantera resources.
At the moment, it is fair to say that given that Orosur are still in charge of the drilling assisted by the JV partners it may be justifiable for Brad to not have obtained other projects however that should change if the JV partners take control in the next couple of months.
With at least 7 holes to be reported and looking at the previous results it is more likely results will be good or excellent than bad. It could be argued that given that the drilling to be reported has been more targeted than the first drilling results should be actually better.
I hope we get another intersections such as:
15 m of 40 g/t Au (DDH MAP-48)
41 m of 14 g/t Au (DDH MAP-38).
23.75m @ 17.40g/t Au (including 0.4m @ 948g/t Au)
70.50m @ 3.53g/t Au
Mama mentally, love the name and thanks for the post. However I differ on one thing, I hope very much Brad George doesn’t squander the cash on buying other prospects which is like throwing the dice and far too dangerous for a little company like ours. It was raised to have enough to cover running the company through this Anza exploration faze. If it is more than needed return it to us, but please do t squander it.
Got another 5K.
We are officially oversold in the day chart with an RSI of 27. The last time we were oversold was the 20 March 2020 which shows that this is a rare opportunity not to sell your shares but to buy or hold. If something I will not do is to sell a stock once it enters oversold territory. Specially when the decline in share price is not due to a drastic change in the fundamentals of the company.
Stocks supported by strong fundamentals shall come back to fair value which in my opinion at this point should be 30p-40p. Thus, a pretty good profit to be made if we recover to those levels. This is a stock which has lost value not based on bad news but maybe not as good news as people were expecting and low volumes.
However, to go below the placing price and noting that all previous drilling was of a high standard, and that with some minor modifications would be amenable to be included in a resource estimate in future when that is warranted, means to me that all the fuss about APTA is justified and that the resource continues to expand as the drilling continues.
Visually, results continue to appear positive and although we do not know when results are going to be released one would expect it to be in the short term and to continue expanding the resource.
I have not seen many companies reporting the results which we have received here which shows how rare is ANZA. Sooner or later we should see a relief rally specially if we receive good news in any of the fronts (concessions, drilling, new acquisitions).
It looks to me that it is time for Brad George to start using all his expertise in the mining world to purchase other projects given the amount of money the company holds. It cannot continue to be an excuse not being able to travel given that other companies continue to purchase new projects while we are still waiting news in that front. Hopefully, the JV partners take over the project following the analysis of data from the current drilling campaign. That surely shall boost the share price.