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We touched 5.7p before the placement a few months ago. So retesting 5p is great achievement, and helps BoD to flush the share holdings of friendly VIP parasites.
Its going according to the script. BoD may add a few sample buys to excite a few mugs here in coming weeks.
Moving forward, I'm not expecting a huge sutainable spike as number of recent buyers (who bought between 2.2p - 4p), traders, and VIP holders will continue to flog their holdings to pocket some profit. And then there will also be LTH like myself who will continue to bail out in chunks if the SP continue to rise little more.
We're stuck between 2-5p for long. Next station for looooooong shall be 5-10p bracket. More like, 5-8p.
This is my green of the day!
Break, the deal is agreed and has been for a while, majors are happy and want it sorted ASAP as does the board. It is now in the hands of lawyers which we all know can take x amount of time.. Like a house sale in the UK they can be dragged out for up to 6 months waiting on solicitors going back and forth. I’m thinking Tuesday next week, as the market is closed Monday and we all know Orosur love a Tuesday RNS.
Yes 5s looking a bit difficult to cross but once it goes it'll be gone for good, a really good start this morning then fizzled after midday, at one stage when we hit 5.5 I thought maybe a six finish, oh well it will come I'm sure, every day that ticks by is a day closer to the big news, frustrating as it is it is what it is, not many days left in May now so any day now news can land at anytime so I'm still very optimistic, how does the song go phill, no you can't hurry shares, you just have to wait, shares don't come easy, it's a game of give and take, no you can't hurry shares, have a gday as Brad would say, altvb and gla.
TJ, there will not be any snag, MMA have achieved their objective which as to claw back some of their investment, the royality is extremely generous. The deal will go ahead, as if it doesnt OMI MUST tell MMA to f off with NOTHING which they have a very strong contractual basis to do, as I covered in many lengthly posts previously.
Ofc, this does not guarantee a timeline, it could be delayed, but 100% will go through or MMA walk with nothing. Remember, OMI hold the licences 100%, we dont need MMA permission to press ahead with Pepas drilling.
Don't forget that in the last video Brad stated that once a deal is signed he will be doing a webinar, so I think a lot of our questions will answered in that. Remaining very positive but the closer we get to the end of May the more nervous I will get. It's fine that they are in Colombia working on drilling plans but that will mean nothing if there's a last minute snag with the deal. For once I wish OMI would under promise and over deliver on timings! On the subject of director buys, the situation is very simple, if the board aren't prepared to invest in something that they are expecting others to invest in, something isn't quite right.
There are risks to option 1; but there are risks to option 2, too. There may be changes in the corporate landscape (Newcrest for example was taken over by Newmont); and the interests of the shark are unlikely to coincide with those of the minnow.
I'm not a geologist; but I would prefer to have Brad in charge of the drilling decisions, than someone at Newmont, who distinguished himself by drilling in the wrong direction eighteen months ago at Pepas.
There's a personal factor, too. I like supporting the underdog, the little guy. I can send Brad an email, and get a friendly and amusing reply; which certainly would not be the case with the CEO of Newmont, Agnico or Hochschild.
Impy if you think about it our wonderful partners only put in 1m first year 1m second year and 4m for last 2 year sand what have we to show for it loads of data that no one knows about except brad maybe. so to raise 4m should not be that bigger deal on good news and share price booming. So down to Brad again to give us something to be confident about and the plan of action.
I think Brad will knock us for dead in coming weeks with what he will say and if he dunt dig deep and buy buy buy then this share not worth investing in.
Over to you brad give us something to chew on.
I think the 28th or 30th will be a good draw. Louis seems to be enjoying himself on horseback which to my mind is an encouraging and positive sign. When they mentioned in the last but one tweet about 'MMA flew the rigs in by helicopter, and stated they will be doing it the hard way not maybe doing. And in the second sentence the contractor will be doing it the hard way not maybe. Looking at the wording Brad and Louis remain very positive. Lets see where we are this time next week. Its understandable traders are nervous as there is so much water gone under the bridge. We need the current to reverse. There's more hope this time. Brad is a great Geo scientist with the experience to get us all to the right place. Well, lets hope so.
GLA
Impec, if we are to go down the very risky path of option 1, I would want to see a plan as to what is needed to get some formal resource estimates onto the board. Surely, having spent $20m on the project in recent years they have a LOT of data that could be used to formally estimate resources? I know that they have enough for their own internal estimates but how far away are we from making it formal? The formalisation of resource estimates is that will drive the BIG revalution here, the sooner OMI can make that happen the better.
Every stock that's going to rise, does so in a zig-zag fashion.
This was true of GGP in 2020; the rise was sustained by a steady flow of good drill results (released by Newcrest every six weeks, if I remember rightly). The geology here may be equally (or more) favourable; but we don't have a buddy to pay for it (and the last one stabbed us in the back). So the dilemma for the directors is: do we go it alone, which means repeated dilution; or risk a joint venture with a larger company? My own preference is for the first. If the incoming drilling results are good, fund-raises can be done at zero discount. And no-one will complain about his 1% holding being reduced to 0.5%, provided it's worth much more than it was before.
Sure there will be traders selling, but that's to be expected. I would expect any pullbacks caused by such selling to be bought into, especially at these lower levels, meaning the price will rise. What none of us know is how much interest (i.e. buying) OMI will attract once it gets Anza back. The stock has been in the doldrums for the last year or so. But the potential is huge here, and there is nothing like drilling results to get a market going.
That would be very nice, Dr.
We’ll most likely see a director buy RNS aswell.
Presumably, there will be one RNS about the purchase of MMA, swiftly followed by another announcing that drilling has started. And then perhaps two or three weeks later, the results from the lab in Medellin.
Of these three, I expect the results to push the price up most.
Legal I’m positive but gut is telling me 6p will be reached and the traders will just smash the price down. We shall see very soon. It’s been a long wait this.
Only a matter of short time before we hold the 5s. I would expect us to get there before the RNS lands. As for the next significant leg up, I think a lot of money will only commit itself once everything is confirmed in the RNS. I imagine more than a few existing holders will also be adding at that point as well. News should land in a couple of weeks at most me thinks.
It’s crazy we can’t hold over 5p. How many times have we been here now. Everything to play for but still we remain at the same sp. when the rns drops do we think the sp will take off or just get traded ? My prediction is 6p but others have big expectations I know. Longer this goes on the more things are just repeated.
Orosur Anza related has been upto 45p, though the fundamentals are much stronger now. The board has extensive information across the Anza land package and drilling to date has only taken place at two seperate targets, firstly Apta and secondly, Pepas, which will be drilled again very soon. Papas deliverd 150m @ 3g/t from surface on the very first hole. Apta had 59.55m @ 9.61g/t & 23.75m @ 17.40g/t being some of the best. To be fair to big old Anza, the best areas are still untouched. The south is hopefully going to have a drill rig on by year end.
This has previously traded at nearly 70p?
If Louis believed there was any danger of the deal falling through, he would not have gone to the site; because his presence there would make the failure even more humiliating than it would otherwise be.
Looks like the market makers are fishing for shares, similar to last friday mid afternoon
Thanks for clarifying folks. But the main point is that these tweets show that the Anza deal is progressing and the drilling is being prepped (otherwise they wouldn't be tweeting like this).
So that RNS we are all waiting for can't be too far away now. All imo and GLA
Break,
Yes, I think you're right about this. "Them" refers to the rigs, not the team.
But that still means Legal is mistaken to believe that MMA is using a helicopter for the present operation; MMA now has nothing to do with Anza, if both parties abide by the letter of intent. And it is clear that our executive chairman is being transported by horse, not by helicopter.
It was the drill rigs that were moved by heli, if we have a drill contractor that can move by land it will be much less expensive.
Hi, Legal
The tweet of 19th May reads:
"The geo team at Pepas checking access for drill rigs. MMA flew them in by helicopter - a good option when money is no object. Not a luxury we have so looks like we will be doing it the hard way. Or should I say, the drill contractor will be doing it the hard way."
The syntax is not entirely clear; but my understanding is that in the past, when MMA were managing the project, they used a helicopter to fly in the team (because MMA had lots of money); but now Orosur (having much less money) is using horses to reach the drilling site (see picture in today's tweet).