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Dr R - There is a BLUE WALL up ere up north these days. Frankly, what's the alternative????? : )
A Yorkshire man by any chance impecunious2? A few decent buys gone through today, I personally think we’ve seen the bottom. Next set of results should not be too far away, even with the delays. Good luck all.
Hi, Seingred @00.13
I certainly agree with you that the UK government made terrible mistakes in the earlier stages of the pandemic; and that the crisis was managed better in Australia and New Zealand (and some other countries, of which I know little). But the vaccine programme here has been a success; "it's so liberating," as a woman in her sixties said to me yesterday; which is why Boris Johnson is doing very well in the opinion polls. Here's Andrew Rawnsley on the subject.
https://www.theguardian.com/commentisfree/2021/jun/13/vaccine-euphoria-will-wear-off-labour-must-be-ready
I should add that I have never voted Conservative in my life, and probably never will do.
Best wishes.
Hi, Sotolo @8.29 & 8.39
It's always a pleasure to read your posts, because they're so wonderfully disillusioned. But I still think PR is important for a company, even a mining company. As mentioned, I'm now in Thor, as well as OMI; and I appreciate the CEO there making the effort to put out a video of herself standing beside a drilling rig somewhere in South Australia. It won't make any difference to the results; but it shows she cares about the shareholders, and that's important to me, and probably to the others, too.
Best wishes.
Sotolo I must beg to differ. We are derisked to a certain extent but admittedly not fully but certainly a lot more compared most juniors.
We have 2 majors, free carry and funds in the bank to last short to medium term so we are derisked and in a far better position compared to others in this sector.
Sharetrader we are not derisked and it is not a pr problem. It is simply that it is a gamble as to how profitable what is in the ground might be (or not) also for Newmont and Agnico. Until we know fair value is impossible to price so dependent on how many people want to gamble on it at the risk of making a lot of losing it all. I do, but fewer and fewer others. I posted a while back that I expected this to come back to the price after Newmont bought in and it is nearly there. Also remember we have about 3p per share in cash from the fundraising. Hopefully it will stop still in double figures, pending news good or bad, which is totally outside Brad’s control.
Napthman, yes indeed results of drilling can move the shares quickly, as we saw last time since when they have halved, results are a two edged sword depending on whether good or bad, so it is not results we want but good ones, fingers crossed
Outcrops share price has reversed similarly from .88 to .28 so maybe colombia specifics like covid and protests may be part of the issue .
Imp,1700. Disagree , our gvnt got the most important part all wrong .They did not prepare at all which is why we had such high death figures until the last few months . The gvnt are responsible for the woeful and misnamed nhs test and trace . Hardly see how they can take the credit for the vaccines.
Lets compare nz death rates to the uk then we get a better idea of how well this incompetent and corrupt gvnt did, not compare to a country that is at the bottom of the pile for vaccine supply or medicines .
Brad mentioned (in email) that they have examined other labs, but they are also at capacity and it may be difficult getting samples to other labs with the greatly reduced international airfreight capacity in the region. It all comes down to covid, unfortunately.
more blue than red and most blues not pocket money bets.
Is a very special day for OMI shares, hooray.
Good luck.
Patience will be rewarded here I’m certain of that. Covid delays are out of the BODs hands. They may be tied to ALS Lab due to Newmont / Agnico I’m sure they’d be the ones to speak up tell them to send them elsewhere. We’re sound financially, with 2 great JVs. The gold is there, the rigs are still drilling. Shame the share price is back to these levels. I’m happy to wait years for full fruition. I’ve got a feeling we’ll get a loads of holes all in one RNS, which will send us on the up again.
Well the problem is that people make their own assumptions that the BoD are sat on their backside whilst the samples lay idle in a lab.
An RNS saying that they are actually looking at other options such as shipping them abroad, as well as saying the further licencing work is progressing well would do wonders for sentiment.
In fairness, there's bugger all Brad can do if everything is stuck in Peru - it's just the times we live in. Apart from maybe sending the cores to another lab in another country for analysis - but then there's a cost and delay to that option too...
I wish Brad would throw us a bone. I am here for the long rung but the long silences aren't doing sentiment any good. I am sure there will have been progress on further licenses and/or more rigs that he could update us on in the meantime!
Also, Having quickly googled covid rates in Peru, things do seem to be improving there too. 7 day infection rates are down over 50% from the peak in the middle of April so fingers crossed things stay on the right track and we can crack on.
Nothing to see here boys and girls. Maybe they meant Easter 2022. Exasperated from Tunbridge Wells.
How do they know where to drill with no idea on the analysis, seems crazy they must be able to read something on site. I do agree there are other labs around not just in Peru
Hi, whatin @16.41
I don't really agree with this statement, although it's quite funny. If one's talking about Covid risk, some countries are safer to live in than others. If you live in the UK, and are aged over 50, you've probably had two jabs; over 30, and you've probably had one. The vaccination rates in Peru and Colombia are low; and Peru has the highest death rate (relative to its population) in the world.
I'm not a great admirer of the present UK government; but the most important thing, they got right.
Best wishes.
Another top up in the 14s for me
Poor communication. How many holes are we waiting on, 7? That was just from the last RNS and doesn’t include any exploration or activity being carried out since. With 5 drills, I can see quite a few more being completed by now.
This is now my second largest holding behind Antipa minerals. Il follow this all the way down :D
The fact that you only sold some would suggest you still believe in OMI but had to reduce risk, even at a loss Impecunious2. Makes good sense to be honest and i guess you could probably buy back at a profit now ironically. The thing that i find annoying is when people go positive/negative to suit their trading strategies. Hence i have fitered a couple of people for that reason. I too would have thought with the 2 big major players funding things, they would be able to find alternative ways to get drilling results out in a different way despite all the covid delays etc. I just find it difficult to believe that with Newmont and Agnico involved, the drilling results can't be fast tracked in an alternative way.
Hi, Vicjain @12.11
Thanks for the reply. I thought I was going to get persecuted for having sold some; but actually the people on this billboard are a decent bunch; which makes it all the more disappointing that we've been clobbered by misfortune, or let down by poor management (depending on one's point of view). Every now and then, I ask myself if another CEO would have flown the samples out to the US, or somewhere safe.
Best wishes.
I took 20% out a few days ago to get into SAR, which is working well currently, but as soon as i get to a profit i am happy with there, i will be putting all of that back in here to hopefully give me a significant increase to my holding.
The situation and delays are unfortunate, and it will hammer the price, but what else has changed? maybe more rigs going up right now for all we know, maybe licences getting ready for the go ahead. The gold in the ground will get the market cap to where it should be in time. Eventually, when there is a mass of results coming out over a short period of time, reflecting the historical findings, and finding's of other companies in the area, the price will rise a lot quicker than it dropped, of that you can be sure
Is it at all possible that the SP is being manipulated to such a point where Agnico and Newmont can jump in as "white knights" and hoover up all outstanding shares at a T/O pittance ?
Such a shame the sp has dropped so low and imo it looks set to continue until the situation in Peru improves. We need the sp to rise by approx 79% to get back to 25p and approx 186% to 40p. We have a long way to go but hopefully the right news can change this. For me, this is a long term hold.
Yes vicjain can't understand the SP low level at all. Surely we are relatively derisked by having 2 majors, free carry and sufficient funds to last the drilling campaign. Although the sector is down admittedly, we are in a much better position than many juniors yet you wouldn't think so by the low level of the SP. We have a board of directors who are poor at communication in addition to having little news to report anyway plus the Peru issues of no cores being sampled due to covid and the argon shortage. I personally can't seeing things dramatically improving for months not weeks but I'm sure they will eventually turn around so most of us are underwater and trapped until things change.