Member Info for adamsmithfreethi

We'll see - I remind you all when Pepas starts shipping ore in less than 2 years.

It's a coincidence.

Ah big Don. I read his piece and am not sure exactly how much research he's done other than give Brad as good going over.

Actually if anything he's in part a bit more cautious than I am. For a start what did he mean by too good to be true. And secondly Brad looks to be getting a 3rd party to do the processing so all he needs are limited permits and a few excavators. Does that really need 3 years given the stripping ratio is likely to be minimal.

On the optimistic side how does it know that OMI has 3m oz? It must be a pure guess - plucked out of thin air. It may well be true but I'd be cautious of this figure the great guru has no more insight than anyone else!

Breaktwister - I may be an ignoramus but I'm not going to take any lessons in market dynamics from someone who posts stuff like...

Wow, Brad is normally understated so for him to say "exceeds all expectations" is HUGE.

I particularly like the HUGE in caps at the end. Nice touch. Suggests someone with a balanced and even temperament.

Have you fallen love with this stock or are just another hedge fund ramper?

Just for one minute exercise your empathy (in the original true sense of the word) for DB and the other MTL staff. Let's say that as predicted they have got the Biox unit up and working last Thursday as predicted. Would you really go out there and broadcast that to the market? I'm not so sure.

Firstly and most importantly we know those pesky but oh so useful bacteria are delicate things (as are we when it comes to cyanide!). They may be OK on the Thursday but not on the Friday when as fresh batch of ore is introduced to them. The interregnum is very much a test of the processes to eliminate cyanide from both the ore feed AND the stream water. That test is not a one day affair but can only be proclaimed a success over a period of days - say around a month. That would take us to the quarterly update next month. The ideal time to pronounce success.

Now suppose instead the dreaded cyanide gets through again that a 6 week stoppage and the target for the year is almost certainly blown. In this circumstance DB would need to get right back to the market otherwise he would be accused (correctly of withholding market sensitive information).

So my attitude is relax hombres - no news is good news!

Thanks for your considered response. I'm not trying to suggest that OMI is like the other companies far from it. I believe I've done my research and believe it is fundamentally different.

But being different is not the same as being immune to market forces including manias. Sometimes the tortoise wins out. By that I mean we shareholders can talk ourselves into a bubble and being long term holders not sell out at the top and then have to wait far far to long for the market to regain trust in the stock after the inevitable crash.

I much prefer more sedate price moves which respond to actual newsflow not investor fantasies.

Predict want you want to but the future is unknowable yes even for OMI! Yes they are different companies but the epic price action of EEE both up and down should act as a caution to genuine long term holders not to get suckered in to bubbles which both EEE and MET1 most certainly were - WSBN probably too.

Judging by the scale and volume of posts there are some professional rampers out there and if you're not one of them then I suggest you get a life by stop posting essentially the same stuff time and time again without material external facts changing. Really it's just clogging the board up.

We all know OMI has got good prospects but they can be ruined if euphoria takes hold on this stock only for reality to hit and then nobody trusts it afterwards which would be a massive shame.

Thanks

How do you access the presentation - Investormeet?

To fund Pepas and assuming it is a $15m project they should borrow the money NOT issue shares. If they do the instis will snap them all up, no doubt at a discount.

I hate these "mate rates" arrangements they are basically corrupt. The company is valued at over $100m even a $20m loans would be nothing. Banks/private credit will fall over themselves to lend. The Board need to understand that they are working for existing shareholders no matter how scrappy not "prestigious ones" they'd like to have

No not a sausage I'm afraid. Not even an acknowledgement of my e-mail. Not very professional.

Not according to Mr ChatGPT - why don't you provide a list of gold mines actually using Biox in anger? I got a list from gpt and it was very small

With the help of ChatGPT and Gemini (I don't like to tell them all my thinking) I've been through the history of BIOx reactors and their use. Firstly, it's still quite a rare thing only a few mines in the world are using right now. Only one mine in Australia (help me chatGPT) has exceeded MTL 82% recovery rate but then you would expect that from probably the world's no 1 mining jurisdiction Western Australia. All the other mines are either below or only in the testing stage. Looking through MTLs historical annual reports I was struck by the detail put in it by DB as he described in detail the small changes made in multiple points on the processing system. Individually they made only a small difference but cumulatively a huge difference as we know.

I think the latest RNS re: artisanal cyanide looks quite concerning but I think needs to be viewed in the context of how previous struggles with the BIOx system have been described. On multiple occasions in the past bacteria had to be reintroduced back into the tanks so what they are doing is familiar to them. Furthermore even if the cyanide problem is not completely eliminated from the feed stock or stream water than can still eliminate this at the point of introduction to the Biox tanks. I'm pretty sure DB is right. They got caught off guard and paid the price. However, that price is small and they are determined not to get caught out again. Cash costs will rightfully rise because of increased vigilance but hey look at the spot gold price!

And of course there are a few things happening elsewhere which might just catch the market's attention...

You should never buy at the bottom just because it is at the moment. Facts on the ground or, in this case, in the ground must underpin your decision. There are plenty of dirt cheap miners I wouldn't touch with a bargepole.

Anyway I respect your method. It's just the age old divide between value versus momentum. And anyway this week my purchases were more momentum than value since I could sense a mood amongst investors that they were at last buying the story big time.

Err - do you really want to mention this? Right now illegal artisanals are camped out in various shafts with semi automatics defying all efforts to expel them. The whole mine is virtually on a war footing.

Artisanals are the one thing that does keep me up at night. Even exceptional miners like MTL have been caught out and they are the experts in dealing with the problem.

40034427 - I haven't had to wait years. My first investment of 1k was less than a year ago although I agree other miners have taken longer to bear fruit for me. The problem with momentum investing is that you are chasing a rising price. Quietly accumulating shares in the expectation true price discovery will out results in an opportunity cost but boy once momentum kicks in I personally sit back and enjoy the ride.

Dr Remington - I have to laugh - all the points raised in the Greenwood report I've raised before. It was blindingly obvious even to someone who didn't visit the mine. I did attend the last AGM and got a got measure of the execs. Since then I've been patiently buying at the 4-8s but ran out of money. Unfortunately Greenwood came in and stated the bleeding obvious and suddenly everybody goes - oh yes - what a fantastic share - we must buy! Luckily some PE outfit bought out another share of mine so I've been scrambling to up my stake. Got another 40k at around 13 so reasonably happy.

But honestly if anybody else tells me market are efficient I'll not be responsible for my actions....

AdenM - welcome to the party!

Dodgy CEO? You better ask the experts Johnstonian and Bhargiv?

What do I know I only go to the AGM and quiz them face to face

I've already tried to contact Tim Blythe a couple of days ago to get some clarification of the recent RNS. Not heard a dicky bird

Don't you just love charting? Aka gobbledygook