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Hi AG1989 - many thanks for your (more informed) response. Definitely agree re Cora and the potential here at OMI.
Morning.
Yes, it does help if people read the RNS of the companies they claim to already be in ;)
Hey LW good to see you here.
No update from the company about campaign suspensions or stoppages. A 5th drill rig was added recently and I’m sure they have the expertise on the ground to guide them through, without receiving the latest batch of assays
Earlier on in this campaign, BG made references to how positive numerous cores looked, and said in his latest RNS that the cores continued to look visually positive.
Just like ECR and their team in Bendigo, they have internal analysis equipment (XRF etc) so help the team break down the core and get a good indication on potential results before they back from the lab.
I’d be absolutely astounded if the base camp at Anza hasn’t got similar equipment, maybe more advanced when you consider they have Newmont mining and Agnico on board
With such a small float, this can and IMO will absolutely rocket sooner or later. I can give no guarantees about the SP, it may continue to drop and if so, il follow it all the way down. Il sell my shares elsewhere if I have to, to average down here
With the free carry, the 5 drill rigs and extremely high grade mineralisation being churned out results after results, this along with Cora Gold is my easiest buy on the AIM
Mining is an essential industry in Columbia and only 6 weeks ago Brad said
“Operationally, in spite of the Covid-19 situation in Colombia, our protocols and the tremendous efforts of our team in the field have allowed us to continue to operate at near full capacity”
I have no reason to believe that work has paused temporarily and they were already looking at regional exploration outside of Apta, which initially they wouldn’t be reliant on past drilling data.
But only time will tell :)
Or before then - they're not going to be dropping news during the webinar lol but feel free to keep trying ;)
I thought the Sprott/Rick Rule interview tweet from OMI was interesting re M&A in the Gold space in 2022 - it's perfectly feasible that OMI are bought out in the relative near-term by Newmont/A.N.Other as often happens with giant deposits.
The enormous 3.7m ounces @ 8 g/t Gold and 243 g/t Silver district scale deposit at Buritica (similar to Pure Gold's Canadian deposit) just 60km up the road from here saw a Chinese buyout at $1.4b not long ago - you just never know and there's 200 square kilometres to explore here ...
Talking of Rick Rule, he has a favourite saying - "most PIs can't hold onto their shares over a wet weekend" which is very true and they often have a habit of offloading into the waiting arms of swing traders such as myself, who trade 3-4 month up/down swings, at precisely the wrong time but that's PIs for you.
I doubt you're an "investor" - any investor thinking it was a good buy at 20p would be going £Large at 15p two months later given there's been no bads news to account for the further drop other than "market mechanics" but as I say, have at it - I've still got dry powder.
True re the sp - I guess we will ultimately find out what the current state of play is with the drilling programme/assay situation on 6 July. In the meantime, not much is being revealed in the current tweets from OMI.
Fair enough but obviously nobody can possibly know the answer to that so it merely comes across as FUD precisely when there seems to be pretty good support in the SP ;)
You have to take your chances as everyone else does - maybe it drops another penny or maybe they drop the news and then nobody can buy under 20p anymore - that's the game.
For your information, I already have a small position here at 20p, and it's more a question of whether to add/build a more sizeable stake on this current drop. I've made no comments about OMI during this recent drop at all but like a number of others, think the current sp is a bargain (so hardly de-ramping). The point that I am raising was in fact first raised during a previous investor event a few months ago. BG talked about the delay at the current lab and said that they had considered whether to use an alternative lab, but there wasn't an obvious alternative option in that part of the world. Given that there have not been any results released since - which might imply continuing delays - I think it's a perfectly valid question to ask in deciding whether or not to invest (or invest more)?
AIM shares are managed by teams of pumpers
and dumpers. PRO Pumpers are paid and move around
with another name and turn into dumpers. Investors wonder
and live in hope while insiders plunder investors. AIM is
a Casino . Gambling is a vice. Victims pay the price.
There aren't any activities or news releases anywhere for the past year without references to covid being made so, as ever, who knows but clearly, the salient point is whether the latest assays show the kind of thick mineral intercepts as were seen here before, not whether there's other delays.
It would seem reasonable to think that the CEO isn't planning on turning up to the webinar in early July with nothing to say except "we've not done anything due to covid".
Anyway, GL with your entry ;)
The risk is not to the staff on the ground, but more about how they decide where to drill next. Can drilling programmes of this magnitude be completed without timely assay results? I thought with a programme of this nature, it is usual that at some point, the next stage of drilling is guided by the assay results from the previous stage etc? For example, could you imagine Newcrest continuing to drill at Havieron without assay results to help them define where to drill next?
If it was not a risk, why would BG have specifically addressed the point in Spring?
Well they're not likely to be adding rigs if they think there's risk there - clearly, getting assays from labs during covid is likely to present an issue but a bunch of guys out in the middle of nowhere drilling holes in the ground is pretty high on the list of safe activities you'd think.
They added a 5th rig a few months ago and haven't issued any news to state drilling has stopped. What an opportunity here, huge imo.
Hi all. Taking a close look at OMI again given the current cheap sp. However, the one thing that is concerning me is the potential impact of Covid on the drilling programme itself. Back in Spring, when the first set of results were released, BG stated that the delays at the lab were not impacting on the drilling programme AT THAT STAGE. However, since then, they have discovered a complex VMS which needs further more targeted drilling. Can they realistically continue such an extensive drilling programme without timely assay results to guide the programme as it develops? At what stage do they press pause?
I haven't been following OMI as closely of late, and was just wondering if this scenario is a risk, or whether OMI have confirmed that the drilling programme itself has not been affected and is not at risk?