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some results come come at any time, once they arrive we know how quickly this can move imo
Indeed Sharetrader123. I remember last year when they did the 17p placing that that was very low in itself and now we are below even that level. Really dumbfounded that the sp is now where it is and seemingly no positives as yet to cause the sp to start the long road back up. Still a bit of good news can bring a massive move back up very quickly so a move back up at least to the mid 20s can happen very quickly imo. Just have to hold and wait i quess.
Vicjain yes when the SP rebounds we know it will do it very quickly but it now has a long way to make up to establish our true worth which I'm sure is far in excess of 14p.
Agree Sharetrader123, this is why the level of drop in the sp is so perplexing. The drop in the sp would suggest OMI have no positives in play whatsoever and of course it is quite the opposite. I guess with such a long protracted drop in the sp, once the positives do come in to play, i expect to see the sp move back up very quickly.
As we continue to drift downwards, we seem to be suffering by a disproportionate amount compared to other junior miners but why. We are struggling to maintain 15p yet it would appear having 2 majors, money in the bank and good potential seem to be counting for nothing. Surely given these facts we should be riding the storm far better than our competitors yet the opposite is evident?
Can fully understand you part selling Impecunious2...wish i had done the same a lot earlier however i was just buying on the way down but never expected the sp to be at this level...I won't bother trying to sell any of my holding, not with the sp so low. With sentiment at rock bottom and so much bad news now factored into the sp, i would think the sp has a much greater chance of going back up quite quickly if anything.
I have sold out in the past in a few other shares when all seemed doom and gloom, most notibly i sold out of GGP a few years ago, when Newmont walked away after doing their due dilligence on Earnest Giles from memory so i don't want to make the same mistake with OMI. In fact, i am hoping to buy more here if i can get the funds together in time. Time will tell.
Hi, Vicjain @11.20
I must confess that I sold part of my holding last week (at a 20% loss), soon after reading Brad's tweet that "industrial gas capacity (in Peru) is now redirected to producing medical oxygen" (which I took to mean, we could be waiting months for results). I switched into Thor, which I think is likely to produce results before OMI (also, the safer jurisdiction and a female CEO, I regarded as plus points).
Taking a loss is never easy, but most professionals advise doing it, if the circumstances have changed (as they have in this case, for when I bought, I did not anticipate that the drilling results would depend upon vaccinating the entire population of Peru).
I still have about £50k invested here, which is certainly a lot more than the directors do.
Best wishes.
Wonder if Brad will stick to what he said and does buy in with this very low sp in place now. I would hope he would buy in and a decent amount...that would show some much needed faith in the project. I would hope the other directors will also take up the opportunity as well.
Brad did say in an earlier interview/webinar he wished he had bought in at a lower price.
With what’s going on he could be using the current climate to do just that.
Well seems the rot continues and the sp just keeps falling. Have long term holders had enough and selling out? With the constant sells either stop losses have been triggered or long termers must be selling imo. Really am disappointed with the way the BOD have handled things over the last few months and that is represented by a very poor sp performance. I get Covid etc have affected things but the constant fall in the sp and the seemingly lack of any good news from OMI is very disappointing. That said i still think things will come good in the end and i will look to top up a fairly big amount, for me that is, if the sp is still at these very low levels. The resource is still there and has a good pedigree, that's what counts in the end.