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Totally agree Mamba, I hold WSBN from 3p and have left the majority to ride out, I did sell some a while ago when it had a run to 18p. The only benefit WSBN has versus OMI is jurisdiction. Asset wise it is incomparable. We also have the JV, which I value massively. Not having to pay a penny for exploration and having the expertise of not one but two of the top three goldies in the world, imagine what that would do to WSBN’s current market cap if they secured a JV similar… I’ve no qualms here, happy to sit back wait as exploration continues, very happy with any purchases under 10p I’ve managed to grab just short of 200k over the last few weeks while the share price sits idle. Good luck all.
Yes Omi not getting much love at the moment. I think wishbone comparison was more on how a company can move on the release of a drill program which in essence is what one expects from Colombia shortly. An update here should in theory be around mid June which will hopefully include sample holes and some sort of plan with regards to Pepas and attacking the deeper deposits under what's been found at Apta so far. This update may also contain information with regard to intent into moving into phase 2 also as it's expectant that it will few months to conclude as we edge closer to September. I am very expectant of a Brazil update soon (especially as brad has tweeted they are drawing up plans and budgets last night for the tin project). Still to receive the 2nd round of sampling of Argentina update also which many believe may also contain information with regards to another JV. With this all on the horizon I'm a little perplexed by the volume currently.
DrRemington the differece between OMI and Wishbone is not just the jurisdiction. Well done those who benefited from the momentum leading to drilling and results some months down the road. Artemis resources just reminded us how being next to Haverion or the Telfer Mine is guarantee of nothing. I though Artemis was a better bet that wishbone but they found nothing. Wishbone did a field campaign and no results were released which I think is a red flag as small miners would report any good finding, except when they are not allowed to do so as it is the case with OMI. I believe Pepas is a much better bet than Wishbone's Red Setter. We have Agnico in charge of the drilling campaign compared to Wishbone. Pepas has been selected as the first new target for drilling not only because of extremely positive geochemical assay results as outlined in the 8 March 2022 announcement, but the prospect has also recently seen the completion of ground induced polarisation (IP) geophysical surveys.
With Wishbone oversold, I think that FOMO is the only thing keeping the share price. with a market capitalisation of £22.16 million having found nothing, it is clear that the share price is pricing some kind of deposit. It is going to be difficult to live to that expectation. If the first holes are bad then it is going to be a really bad drop. It may be worth a punt but I would not put the amount of money I have in OMI there.
At £18 million market cap with file holes to be reported, drilling already ongoing with 3 some saying 5 drills) and this low share price, I think OMI is a much better bet.
It's difficult to disentangle the weakness of the sector from the weakness of the OMI share price. All the junior miners/explorers I hold or follow have had a dismal 2022, so maybe we shouldn't attach too much blame to Brad.
The warrants sit at 25.5p ? I believe it was? Hopefully they are exercised some time in the near future. The main issue with holding here or infact not holding here is the newsflow, for all we know now, permits could have been granted for La Cejita etc and we’ll be the last to know. Brad may know but will just use the once a quarter bull from the majors. Previously we knew nothing about drilling, next minute we found out 5 rigs are penetrating Apta.. That’s the reason I’ve chosen not to trade. The share price seems to be holding up ok on small volumes, I thought it may have dropped further by now. Hopefully news of some sort next week, maybe from Brazil or new JV which should be imminent.
Sian thought there might be a few with a target around the warrant exercise price.
If you remember Brad cunningly fixed his options at 13 ish.
To be fair He did have a cup of tea in a field somewhere to earn them
I think a few folks are eyeing a 25p target so if the Bod want to cash in there options there going to need get the sp motoring north of that. Brad really needs ii’s on board .
Luckily I haven’t held since 40p but it was the JV and quick rise from 4-40 that got me looking for an entry.
Avg now 16 ish and will avg down again sub 9 or If I think bottom is firmly in.
I also traded a few out on the spike last year but bought them back too soon and now overweight.
My orginal plan was to load up and hold as long as story continued to impress. I really did think this could be next Solg/ggp type play.
He lost my full support with the JV tinkering because I just don’t believe they are the “free hit” he suggests. They could be successful but if they aren’t will eat into Colombian assets so price target 25 remains for me. Seems a long way off right now but could easily see 50% in a day here as long as we get some proper information before he needs more cash.
The other thing I think the JV’s do is make an outright bid very unlikely. If the Colombian assets were sold we might get a small divi but he’d need cash for Arg/Brazil.
So in essence if you've held from the glory days of 40p to sub 10p I would say if you can wait it out a while longer it will be worth your while. There is a clear plan for the next 12 months in place which will significant opportunities to make money from here. If your new to orosur or considering investing, only 5pc of the Anza land package has been explored, expect a lot more drilling here in the future but will one will have to roll with the punches, not get too emotional on the swings as it can move either way quickly. Don't be scared out of your holding, particularly at these levels.
I actually think Brad would have done things differently had he been given a choice but the majors have a different way of working and are leading the project so it's good in the sense it's their money paying for everything Anza related bit the downside is your moving at their timetable which doesn't really align with orosur shareholders thirst for the project to move quicker. Below is an idea of what to expect over the next few months taken from Orosur's recent attendance at 121 mining Cape Town.
What recent news would you like to highlight to investors attending?
Drilling is about to restart on new prospects at the Anza project in Colombia. We also have exploration results and programs in Argentina as the El Pantano projects comes into full operation.
What are your key goals for the next 3, 6 and 12 months?
3 Months:
Commence next phase of drilling at Anza in Colombia. Complete next phase of work at El Pantano. Ink new JV in Argentina. Commence work on our Ariquemes tin project in Brazil.
6 Months:
Finalise JV terms for transition into Phase 2 of the Anza JV with Agnico and Newmont. Moving into Phase 2 means $20m spend over 4 years. Commence field work at the Ariquemes project in Brazil. Commence drilling in Argentina
12 Months:
Ramp up drilling at Anza in Colombia. Continue drilling in Argentina at two projects. Potential drilling in Brazil
So my thoughts are we are still early in the game with respect to Colombia judging by this timetable, it is quiet just now but any ramp up of works or drill programmes here will give significant lift, as well as licence approvals/ permits bring gained for outstanding areas. Expect a new Argentina JV shortly as well as samples from 5 holes. Possible drill plan for pepas, with what they will be doing at Apta. We already know deep rigs have been brought to go deeper at apta & pepas, which will be made public as the drills are turning. I expect this come at same time as the 5 hole results but maybe not. This new Argentinian JV in my opinion will be further along and closer to being drill ready than el Pantano. Unsure of the commodity this will be ? Gold but Brad has shown he is not scared to diversify his metals with the Brazil JV so anything is up for debate on this. Brad seems to like Argentina due to cost of works being significantly lower than Colombia also.
Chicken, thanks for that well considered response.
Think points 1-4 you raise make much sense.
I don’t think Brad helps by constantly giving impression that we will get a busy news period and not delivering or telling us the majors want to move fast but then in reality the phase 2 isn’t going to begin much quicker than the SEP deadline considering we are on the verge of June.
However it does seem that almost every AIM explorer CEO trots out a line of BS or contradicts them self at some point.
Jackbal it's hard tell but my theory is this. The earlier interviews/ webinars brad really went to town on the pump. He was talking elephants and tier 1 and seemed genuinely excited by the potential and you can actually see Louis squirm in his seat at one point in that particular interview, Louis eyes rolled like he was telling Brad to tone it down. Ever since that interview the elephant rhetoric disappeared and I think the next one he said he thought the price had went a bit out of control for where they were at that point in time and then the drift set in, not really because of the next interview but a whole host of reasons. He has since been measured in his updates and has had the "let the drills do the talking" mantra in public. Now I think is this is because 1. Not all licences and permits and fully secured. 2. Majors perhaps didn't like the price running away 3. Majors don't want the noise 4. Illegal mining which is just shy of 70pc of total mining output in Colombia. The Chinese project up the road has had real issues with this as have other companies trying to get licences through the ministry of mining as they've not followed correct procedure re social and environmental issues. I think things are measured as the majors clearly want things to be done properly. My gut tells me that this will be tier 1 in the future and there will be a mine at the end of the rainbow. We do know that samples are a trade secret and have been taking seriously and we have also had via discussion that extensive legal teams have been working in legal aspects. Wishbone is a good example currently of how things can change on the right news. I think they are embarking on 12000m program through various tenements. We know Omi have the folding hypothesis at Apta been proven and the deep drill rigs are going there to find out more. We also know works have started at pepas and will hopefully on next Colombia update a real plan with metres to be covered. Phase 2 for me is guaranteed. I don't think they would have taken on pepas now if there wasn't real intent to move into this phase.
Jackbal it's hard tell but my theory is this. The earlier interviews/ webinars brad really went to town on the pump. He was talking elephants and tier 1 and seemed genuinely excited by the potential and you can actually see Louis squirm in his seat at one point in that particular interview, Louis eyes rolled like he was telling Brad to tone it down. Ever since that interview the elephant rhetoric disappeared and I think the next one he said he thought the price had went a bit out of control for where they were at that point in time and then the drift set in, not really because of the next interview but a whole host of reasons. He has since been measured in his updates and has had the "let the drills do the talking" mantra in public. Now I think is this is because 1. Not all licences and permits and fully secured. 2. Majors perhaps didn't like the price running away 3. Majors don't want the noise 4. Illegal mining which is just shy of 70pc of total mining output in Colombia. The Chinese project up the road has had real issues with this as have other companies trying to get licences through the ministry of mining as they've not followed correct procedure re social and environmental issues. I think things are measured as the majors clearly want things to be done properly. My gut tells me that this will be tier 1 in the future and there will be a mine at the end of the rainbow. We do know that samples are a trade secret and have been taking seriously and we have also had via discussion that extensive legal teams have been working in legal aspects. Wishbone is a good example currently of how things can change on the right news. I think they are embarking on 12000m program through various tenements. We know Omi have the folding hypothesis at Apta been proven and the deep drill rigs are going there to find out more. We also know works have started at pepas and will hopefully on next Colombia update a real plan with metres to be covered. Phase 2 for me is guaranteed. I don't think they would have taken on pepas now if there wasn't real intent to move into this phase.
Agree pp and Dr R that eventually this will follow suit.
I just think co’s like wsbn have a greater duty to talk their SP up as no major partner to fund them.
Is Brad just being lackadaisical or intentionally trying to keep this under radar as long as poss?
I gather there is drilling activity and at times had as much as 30 Geo’s on site, why isn’t it being announced properly.
Surely these matters are worthy of formal disclosure? The SP could with the support
I agree PP, WSBN had been trading in the 6-8p range for almost 6 months, now has started its move up in anticipation. It'll come for us too soon, we've been in the 9p-11p range for a while now. I've been in WSBN a while, held since the 3p days, not a large holding though. The difference in WSBN and OMI is the jurisdiction, Australia a much safer investment. Though fortune favours the brave. Once the JV is confirmed we should hopefully see the drilling ramp up, drilling numerous targets at once.
@Jack
It was like this only a few weeks ago at WSBN which was trading at 6p whilst they had gone quiet and there were many posts over there about shocking communication from the CEO.
I posted over on WSBN at that time that I was happy as I felt it was a good opportunity.
I anticipated, (as did many others btw) that the comms would start to flood in as the drilling approached, not only has that happened, but they are now drilling on 3 fronts over there which could not have been predicted and I'm 100% up over there now since.
Its actually not too much of a stretch to imagine OMI drilling on 3 fronts at some stage.
Recently, I've never seen so many posts across the small cap bb's about folk being back in cash, and the old adage "sell in May and go away" has been playing out across all the small cap sectors.
This traditionally slower middle part of the year tends to throw up at least half a dozen exceptions that can become solid plays on the right news landing and go on a decent runs.
If OMI can deliver the right news, I suspect they have just as strong a chance as any.
ANZA drill updates and assays will be key, but the big one is undoubtedly the completion of the formalisation of the JV.
Impressive to see how the FOMO has started at WSBN once the dates on drilling became much clearer
Expecting similar here once we get some clarity on what is happening in the background
As ever, i suspect it's merely down the the legals dragging their heels and the company either not wanting to, or legally able to release details of the various stages of the admin until its all signed and sealed.
GLA
Chicken why do you think we get get such little info and vague guidance on our Crown Jewels?
Do you think he’s been told to keep as schtum as possible? Or do you think he’s actually not being told anything to report?
I own some wsbn and the mere mention of rigs contracted for drilling sent SP up 50% quickly. They only announce a rig was signed.
If we have so going on why are we having to speculate so much. We all know how market feels about uncertainty so why after such a long arduous wait do we still wait for something concrete?
You need either the patience of a saint or the stubbornness of a mule waiting for proper news. I don’t have the patience.
Very quiet.. Brad doing what he does best, taking selfie photos of other companies loot but looks like he's made it to brazil and rightly so as tin is sexy at the moment. Volume been poor this week tho and quite alot of doom and gloom going at mo, markets tetchy etc. The market hungry for some Colombia action, pepas plans, something concrete to mull over. 5 holes couldn't come back soon enough.
Very quiet here, can just slightly hear the drill rigs on Pepas and Apta in the background. It can get frustrating investing in exploration, though a day gone is another day closer to The JV entering phase 2. Hopefully that will coincide with permits coming through and a major ramp up of drilling activity on Anza. Some serious mapping and sampling has been taking place on Anza for many months, apparently a team of 30 plus at certain times, that we are not too privy to. I wonder if any new prospects areas have been identified, Pupino and Pepas being the most recent in July, drilling now obviously underway on Pepas.
Mmmmmm.....so what have you heard about a webinar then.
Sorry
Got my webanair bit wrong
Anyway here’s hoping for news.
Mamba
I think they have already decided.
Formal JV will be complete by 6th September .
Brad webinar on Tuesday 24th may
Normally RNS on a Tuesday
So hopefully start of all the news.
DYOR
GLA
Drilling at the North is ongoing. Drilling following the Aragon Fault which goes through APTA and has proven high grade mineralisation. Drilling at the north has commenced upon a successful geochemical and sampling campaign by two of the best gold miners in the world. The other two drill rigs should have arrived by now at APTA and should be drilling deeper into ANZA. 5 holes to be reported any time now. Further results from el Pantano. Closing of Uruguayan operations should be reported any day now. Difficult to see why there is not excitement and buying at this levels with so many things happening. By 6 September Monte Aguila to decide into entering into formal JV. That is less than 4 months.
Whilst our Bod are busy travelling to transform the company- "Go fishing"!
Its a nice day out there.
As I just posted on GGP board - hoping for a good outcome with EUA as they were suspended this morning. Maybe something in the offing there, will release funds to invest here.... 50/50 chance.