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Jwoz - well said.
They did not have to buy. Being an MD or a CEO does not imply they are cash rich to buy even 100k shares.
I do feel that Brad has changed is stance to perhaps under promise and over deliver. It seems like he may have learned his lesson from being a tad rampy in the 'elephant country' presentation. The most recent investor phone call and RNS update were much more cautious despite the results being fantastic.
Good news for us holders as it means a nice surprise RNS could pop up at any moment!
Sotolo, a lot of it has to do with sentiment. If gold is rising, so will all the associated stocks. For example, last March omi bottomed at 1.8p but had doubled by July on no news.
What drove the price higher? Pure sentiment imo. This time around omi is in a much better position. Back then, it was a micro cap with no money teetering on bankruptcy.
Now they have $7m in the bank and two majors funding the exploration. If gold continues rising, omi will be back in the 20’s with or without news imho.
Karl there is no reason you should be a ramper just because you believe Omi is undervalued and your view is appreciated by me as are all. Just Omi is not a miner but an explorer, so it’s price is dependent on what it finds, of course the economics become better if gold rises but the key is exploration news, so gold has risen from $1680 while Omi has continuously fallen. Without any good news this is drifting but should settle I reckon around where it was before Agnico joined the party, shares always seem to overshoot in both directions, I luckily sold quite a few the first time above 40 as it had obviously overshot, I bought them back and more in the 20’s and 30’s, too early, my greed. Seems about right here to me, hope market doesn’t think much lower….
The gold sector bottomed in late feb/early March if you look at the charts of some of the bigger miners like newmont and Barrick. The juniors will follow at some stage. They always do after a bit of a delay.
I’m not a ramper but today’s price of 16p to buy offers a good risk/reward ratio imo.
Stock is being shorted plain and simple, it stands out a mile.
Sack the broker !
Map, that is why I stay in it
Added 100,000 shares. When director buying and stock price seeks the floor then can't be better time to add. GLA
Timing is the key to success. OMI is impossible to buy when there is strong
demand. CEO is not greedy. " You have to be in it to win it." Good Luck.
Ahhh the 3 monthly bash of the ceo for not buying more shares than what he did.
He wouldn’t be buying any if he didn’t think the company was going to progress from its current position.
I think he’s doing a brilliant job. Communication from the company is a little poor but in terms of results, outstanding for me. Some very good grades being pulled out, 2,000 samples to come back from the labs, I’m very excited.
Feeling far more confident now given that the directors have a SP performance based substantial incentive at stake via the options. The small director buys and direct holding had me slightly worried this morning but am feeling much more reassured now.
Thanks Chicken legs for this info. Managed to find the relevant page on the website. Seems like they have a range of strike prices from 0.04 C$ to 0.325 C$.
There have been three Columbia updates and directors have bought after each one so although the purchases are small, it shows confidence.
Hi Rscorpio omi's website states Brad and Louis have just shy of 2million options each as of 31st December 2020
Does anyone know more on their options? I would guess that is where they could have a substantial future payout of interest.
I’m here because Newmont and Agnico are here, any man could be at the helm and as the asset gets proved up in my opinion, Brads opinion and many others opinions we’ll be bought out. I can’t see it effecting the share price at all really. It’s the assays what will do the talking.
Lets flip this the other way round... how could an investor be happy if Brad had hoovered up, say, 5 million shares at bargain prices and taken them out of circulation/other investors hands. Lets remember these arent warrants or company share allocation, this is open market purchase for a company notoriously illiquid with not a high volume of shares.
I think for a director to watch a dip and use that as an opportunity to "load up" excessively would be far more distasteful and likely to serious upset a regulator. This is a statement. Simple as that. fair enough it could have been a few more, but its not really the point exactly how many as he isn't trying to accumulate all the share capital for himself. why would he?
@DrR - directors being frugal because of the pandemic? I would hope they both have at least a couple of bags of Tesco's value spaghetti in the cupboard.
Happy to see any purchases, happy to see the price rerate as well
These are indeed tiny and insignificant, but surely we didn’t buy into OMI based on what shares directors will hold here? Directors buying in will not change how much gold there is in the ground
What's the underlying message professor? Happy for the purchase don't get me wrong and obviously don't know their personal financial situations but alot of us think they should be holding more, alot of pi's are holding considerably more.
They may not be skint, we’re in the middle of a global pandemic, you can in a way understand people being frugal. Personally I’d like to see all the directors holding at the least holding hundreds of thousands of shares each.
Definitely a good time for the directors to buy some shares whilst the sp is languishing at these crazy low levels, more than last time but still a relatively small amount. Many have mentioned they should be buying in and they have so a positive upto a point. I'm sure Brad is aware that what they have purchased is not a mega amount and their previous sp purchases have been discussed at great length previously so i'm sure he will be aware how such purchases will be looked at from investors. Either way they have bought, could really be that it is all they can afford at this time. Also though they do have substantial options to take up in the future. So as it stands the sp will eventually rise back up in a big way imo.
call me old fashioned but i would prefer not to have skint directors
I know it’s something, and they could have bought nothing, and we don’t know their financial situation, but that is a touch small...