Member Info for Awax

Ok so we have $350m dollars revenue over the first five years of production but we are tardy in sorting out finance on the right terms. Our market cap is £13.5m and we have very few shares out their for grabs, with unknown person mopping these up since deal with Oaktree was announced. I see a battle ahead

Having an Omega Man moment............. hello!.........hello............. hello ( echoes drifting onto the distance )

Where is everyone? This has to be good news as any doubts over the April deal will now create interest in this asset of Orm's and imho will get us a better deal

28% and more to get back to 5.7p with this now permitted and close to mining the stuff

5.7p I believe was their last nibble at this?

Again it is an 'opportunistic' approach, but might set the proverbial cat?

Almont again eh?

Alternative to deal which has been done likely to have been dilution and for how much. Sp likely to have reacted similarly or alternative was debt, which seems to have been on costly terms. I will be waiting for the terms of the deal before judging, the size of the fee and the share of the revenues. Impatient will have sold today as cannot wait till April. Delays, delays, seems that's par for the course on aim?

The comment "Oaktree will hold a majority position in the project" to me is the key. We also will derive a management fee for the project. So it seems in return for funding Oaktree get to make the decisions, whilst we still receive substantial revenues from the project. Why else would they pay us a fee? If Oaktree ultimately wish to sell the asset, then it will be their decision to do so, if the price is right?

$350M revenue over the first 5 years of production and a market capital of less than £14m. Today's news says they have given Oaktree a majority share of the mine, with ORM taking a management fee. This has sorted the finance, but what will the market think?

Seems a good deal, but subject to due diligence yet. Assets exceed $90bn, so they have the funds to support our development. Production now less than 18 months away with mucho pesetas that will bring?

News at last!

Tried their luck at was it 4.79p? You would have thought the bod would still see such a bid as 'opportunistic'.

Can't believe some of timescales between communications. You would have thought it would be possible to seal a deal in the time these guys have had, unless there are problems or are searching for a better deal?

RNS dated 15th July quoted that there would be a short delay till final permit. It arrived 4 months later..........wonder what would amount to a standard delay, or even a long delay? Never mind CP, I hear that Haleys comet is due soon lol They had assumed no problems with permit, so you would have thought a month would be long enough to finalise? We have the offtake agreement with an internationally reputable coy, so why..........maybe a chance to top-up eh?

And another thing, I'm happier in here waiting, than waiting for the next years High Interest Cash isa credit @ 0.5% lol

Aim is consistent with every share and either pi's bale out, which is what the market wants, or hold tight to shares in good companies with valuable assets and the financial means of extracting them. My Orm shares are Isa'd and will be in there for a long time while the market pishes about.

Thanks for the note and I will certainly be having a look at it. I do feel that this is all lined up now, what with the agreement with Noble already settled. Confirmation of how it is to be financed is awaited, but cannot see anything in the way now. atb

Not in PREM but will compare when I get the chance. What does your comparison tell you, that ORM is undervalued at 4.5p? Almonty valued this at a sneaky 5.7p which was rejected by the bod ......BEFORE the permit was issued.

Already had been agreed subject to permit. That's how these things work imho. City boys will know the deal, having had the note over lunch and a Stella. No way they can have mine by holding down the price and letting the impatient out. I'll be at the table when this has an sp which reflects true value