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Time we got anupdate from the Board!
Time will tell although looking at the shares in issue which is low and the amount held by the biggest investor, that when this does uncoil it will uncoil upwards in quite a big way. The listing risk has gone away, cash in the bank, and when looking historically at the SP this is trading below average. External conditions perfect with commodities and the world economy seeing light at the end of the tunnel (before inflation, more unemployment kicks in year end).
As I say, time will tell and either way the next few weeks will be interesting. Listing takes effect in just over a week from now and news due imo in the next two weeks. Just supposition and all my opinion of course.
Copper's certainly a good commodity to be in atm. This from MKA's presentation this week.
"Wind turbines can use between 400kg to 4 tonnes of copper per turbine depending on the technology used."
The world's going to need a lot of copper and hopefully ORM will shortly join the party with a first-class copper asset.
I put quite a bit in today and just shy of 5m shares now. I could not buy anything over £100 in the last 20 minutes.
I put quite a bit in today and just shy of 5m shares now. I could not buy anything over £100 in the last 20 minutes.
Well said Somerset.
It's frustrating and nerve-shredding to wait in the blind, and until the deal's done there's the possibility it won't get done...but...it's a complex multiparty deal with a tricky shareholder in the mix too. Trust the bod to handle it well, and if it's worthwhile, to bring it home in the best possible way. We can't generally expect to hear updates on the state of negotiations too often.
I still think it can more than 10 bag.
But we need patience.
It’s not a straightforward deal....is it ever?
I am down on my investment, but I wasn’t here to flip it and make a quick buck. This is a calculated risk. If nothing happens with this deal we are valued at cash (more or less) and another deal will be done.
If the deal goes through its boom time.
Let’s leave the BOD to do their job and not get too stressed about it. It may be weeks more before we hear anything.....
I mentioned this on another board and it was not taken very well. It is like these people all bought at 0.05p so they are not down as much as others and quite relaxed about it.
Nothing has changed in the last couple of weeks. Just MMs having fun with some spread atm.
Just been looking back at the bb around 5th Jan. when there was talk of 10 bagging !! Note the names, some are regular rampers on this and other bb's and then they suddenly go quiet when the s1it hits the fan. Learned a lot from this stock but boy, was it was an expensive lesson.
I'm as equally pi ss ed off with this as you are #cekim
Well that's another week with no updates. Where do we go from here. This share is draining funds from my portfolio. Any thoughts ?
As ORM Director I would be bloody nervous to get the deal signed, because if the value is there the preditors are on the hunt!
March 4 (Reuters) - Chinese gold mining companies are on a buying spree in West Africa and South America, outbidding rivals for assets in less familiar regions as the governments in their usual hunting grounds turn against them.
China’s overseas mining M&A activity fell overall in 2020, Refinitiv data shows, but the number of acquisitions in the gold sector tripled from 2019 even though a surge in the gold market to record levels inflated premiums.
Bankers and lawyers predicted the focus would continue on the emerging economies that welcome Chinese investment as Australia, Canada, and the United States increase scrutiny of Chinese acquisitions.
Gold-rich regions in West Africa and South America have a particular draw for Chinese companies faced with dwindling resources at home and they are not limiting themselves to gold as they seek to become diversified global companies.
“We’ve seen China mining deal activity double over the past 12 months,” said Hilary Lau, partner and head of Asia energy at Herbert Smith Freehills in Hong Kong.
“Interest is now more evenly split between traditional targets such as gold and iron ore, and new economy metals such as lithium, cobalt and graphite.”
A Johannesburg-based banker, who declined to be named, said Chinese buyers were for the first time aggressively pursuing gold deals in Africa.
State-owned Shandong Gold Mining last year won a nine-month bidding war for Ghana gold mine developer Cardinal Resources, outbidding Russia’s Nordgold with a A$1.075 per share all-cash takeover offer – 134% more than Nordgold had initially offered for the company.
By contrast, its bid for Canada’s TMAC Resources, which mined gold in the sensitive Arctic region, was rebuffed by the Canadian government on national security grounds in December.
Shandong Gold Mining did not respond to a request for comment.
Chifeng Jilong Gold Mining has also ventured into Ghana, sealing a deal to buy Resolute’s Bibiani gold mine in December.
In a statement to Reuters, Chifeng Jilong Gold Mining said investment in developed countries, such as Australia and Canada, is “not active” because assets there are 10% to 30% more expensive than those in West Africa and South America, and mining companies in the less developed regions can do deals more quickly.
State financing is one of China’s advantages in carrying out overseas acquisitions, Chifeng Gold said, adding that it believes the Bibiani mine was bought at a “fully competitive price”.
‘THEY KEEP BIDDING’
China has also stepped up its activity in South America, where Zijin Mining acquired Guyana Goldfields and Colombia-focused Continental Gold in the space of five months last year.
Zijin outbid Silvercorp by 35% to clinch the purchase of Guyana Goldfields, and paid a 29% premium for Continental.
Zijin did not respond to a request for comment for this article.