Member Info for breaktwister

Mapth, I get that man, but the market has ignored it and seems to want actual numbers from the drilling program before assigning any value to El Pantano. Fine, but those of us that don't need to see those numbers can invest now rather than wait and chase a higher price.

I would add to my post below UNLESS El Pantano drill results are significant. It doesn't matter which prospect really, just something to show the market that they have much more than 220k oz at Pepas, confirmed drill results, not aeromags and soil samples.

Interesting to hear they are going to aeromag APTA. All well and good to "have major mapping and sampling projects planned all across Anza, especially at the licences granted just before Christmas". But imo, given the market reaction to the Pepas MRE, they need to go back to where the historical high-grade is Apta and put a few holes in. The market wants drill results and the company unfortunately needs to very clearly present "look idiots, look what we have at Apta alone".

Why do you say that Surin? CAPEX will be under $20m, which OMI will easily raise when needed. Will be confirmed in PEA.

Pepas is not "the whole story" but actually one small satellite deposit in a much larger Anzá district play.

The Actual Strategy (Which is Brilliant)

Management's Play:

Pepas = Cash Flow Engine

219k oz @ 5.11 g/t from surface

TOP 5 OPEN PIT GRADE GLOBALLY

Toll milling = minimal CAPEX (~US$20-30M?)

Production in 2 years = 2027 cash flow

Self-funds exploration of the REAL prize

Anzá District = The Real Asset

2M+ oz high-grade potential (Apta)

Undrilled porphyries (El Cedro) = blue sky upside

Pepas validates the system

Cash from Pepas funds drilling WITHOUT dilution

Strategic Brilliance

Avoid years of dilutive financing

Get to cash flow FAST

Use Pepas profits to unlock Anzá

Colombia toll milling infrastructure exists (key advantage)

Current Value Analysis:

Market cap: C$181M

Pepas NPV: US189M = ~C260M (at 1.38 FX)

Trading BELOW Pepas NPV alone

Anzá district potential (2M+ oz) = FREE

You're getting Anzá + El Pantano for FREE while buying Pepas at 30% discount to NPV

I added today in a few batches. Pepas was never the prize. The amount of people posting comparisons with low-grade underground projects is amazing to me. They will lose their shirt in the markets if they think all ounces in the ground are equal. Let see what else Brad can find with the drill, he has done well so far.

I am with you on that MaxV. There are no other explorers on AIM, or anywhere really, that has this volume of high grade material from surface.

Some posters on here are idiots trying to compare to companies in Africa that have 1-2 gt underground the economics of which are going to be marginal and requiring massive shareholder dilution. Clueless to compare Orosur to that but happy that I can buy lower.

Hilarious that so many morons have decided to post here for the first time while not understanding that Pepas is NOT the companies flagship deposit, but mearly a very small part of the land-holdings.

I had suspected that the market, being of average intelligence, may not understand why there is such a small MRE, as it is unusual to prove up a non-flagship asset first. Well anyone that has any knowledge and understands that Pepas is a top 5 open-pit mine by grade in the world would know why the MRE, and moving it to production, was prioritised.

You are a spastic Tungsten and should be reported and banned for lies. Obviously price does not magically make more ounces appear, but what it does is allow cut-off to be lowered, which does increase the project ounces.

At $5,000/oz gold the cut-off grade could be lowered - Material between 0.5-0.92 g/t that was previously "waste" might now be economical to process, potentially expanding the resource.

So they do 22k oz pa for 10yrs if they want, do the math. That is a valuation underpinning. Nothing priced in for Apta is hilarious! I am buying at 28p all day

B compare apples with oranges if you like, that will be your mistake to make if you wish to do that.

b_positive - nice name for a deramper. very smart. they have 2m oz at apta based on historical drilling. price includes nothing for this, el cedro or el pantano, so go ahead and compare to other ****cos that will need million in capexs to get anywhere. omi will be self-funded to get a mine up and running at apta.

What are the odds we get another RNS tomorrow with El Pantano drill results? Why have those taken so long, I assume the current small drill program there is completed as per plan?

Just realised that the AI estimate of upfront capital costs is way too high, I didn't advice that this would be toll milling and not mine construction. The key numbers are annual profit Annual Operating Profit $194.0M - $18.75M = ~$175.3 million/year and the fact that $5000 gold potentially lowers the cutoff grade. All of this will be confirmed in PEA.

Pepas is a starter pit, NOT the main flagship.

This small Pepas find And that is only to find value at the other parts of the projects - NOT a company flagship.

Given the numbers in the RNS it appears that they are going to roll with the upfront extraction, what I mean by that is rather than take a lower yearly sum and try to keep the thing going for 10 years, they will take what they can in 5 years. Here is what Claude has to say about it:

Annual Production

Ore processed: 250,000 tonnes/year

Average grade (using Indicated): 5.46 g/t

Gold recovered: 250,000 t × 5.46 g/t × 88.75% recovery = 1,213,125 grams = 39,000 ounces/year

Revenue: 39,000 oz × $5,000/oz × 99.5% payability = $194.0 million/year

Operating Costs (per tonne)

Mining: ~$2.50/t (average, assuming mostly oxide/transitional)

Processing: $60/t

G&A: $10/t

Transport: $2.50/t

Total: ~$75/t

Annual operating costs: 250,000 t × $75 = $18.75 million/year

Annual Operating Profit:

$194.0M - $18.75M = ~$175.3 million/year

Additional Implications

At $5,000/oz gold:

The cut-off grade could be lowered - Material between 0.5-0.92 g/t that was previously "waste" might now be economical to process, potentially expanding the resource

The pit shell could be deeper/larger - Higher gold prices justify mining lower-grade material further from surface, which could significantly increase total ounces

Project payback would be very fast - Even with $50-100M in upfront capital costs, payback could occur in under a year of production

This would be an exceptionally profitable operation at current gold prices. The combination of high grade (5.46 g/t) and high gold price creates very strong economics.

So the headline number is lower, but the high grade and high gold price is key to underpinning valuation. The real question is can they prove up more ounces elsewhere?

TSX will move up again, low volume shakeout on less than 100,000 shares.

3 top ups now this afternoon. What a bargain.

I had other appointments so missed this mornings bargain entry around 30p. Couldn't believe it dipped again this afternoon, took some more at 32.1

50p my guess

I'd say he had a few single malts regardless. Seems to be in a very cheery mood, I like that.