RE: Element is puposely deceiving the readers17 Feb 2026 08:11
Rocket man selective with the truth again let me copy and paste his whole comment on ggp
""Given that there have been around 17 posts today and roughly 12 of them seem to be about me, I think it’s only fair that I explain my position clearly.
First, I hold shares in OMI.
The MRE released last week was, in my view and the markets view , was categorically disappointing. Management had implied/guided the market toward something 35–40% larger.
Missing by that margin is, in my opinion, very poor form. You certainly wouldn’t catch Shuan Day doing that — if anything, he tends to under-promise rather than over-suggest.
So I ran the numbers myself - and, at a £90m market cap - it simply does not stack up very well... Far from it. On the current data, it risks becoming a serious value trap specifically because it lacks scale (5 year mine life) - unless something genuinely material is discovered on the other licences — which, to be fair, cannot be ruled out.
I also argued that Pepas capex will be far higher than $15m to reach production. That $15m figure — pushed heavily in broker notes — is, in my view, verging on delusional. What concerned me most is that management appeared to allow this number to circulate without any supporting PFS or realistic costings, despite the obvious complexity involved.
For multiple quite complex technical reasons, implying a capex figure without proper studies especially on and ore tolling arrangement, is at best, misleading. I tried to explain this reasoning in detail. I wasn’t met with counter-analysis or data — just abuse.
That doesn’t bother me personally - but me being me didn't appreciate the attacks - so in the interests of fairness I hit back.
People deserve to understand the risks.
TBF - I was genuinely hoping someone with deeper operational knowledge of OMI would prove me wrong using numbers and evidence.
Completely fortuitously, I had significantly reduced my holdings the week before the ~40% crash, as part of a wider risk reduction across my newer investments. After the sell-off, I revisited the numbers to see whether re-entering at ~1 Mt for ~250koz made sense.
I raised the valuation issue again, and was abused again, and ultimately concluded that — even after the fall — the company still looked vastly overpriced on the available data. I think the OMI SP can easily fall another 50%.
That’s all this has ever been about: numbers, risk management, and capital discipline — not sentiment. And I wont take abuse from people who dont understand the business. Following my personal misjudgments of the past - well documented here - I work hard to get things 100% right.""
Sign In
Follow the stocks
