Member Info for breaktwister

You are wrong Yela, MMA own nothing until they enter into Phase 2. Very very clear from the contract but the facts are irrelevant when you imbeciles or crooks making decisions. Brad has taken the easy path which is to do as MMA tell him without question and screw the small OMI shareholders. Why would he care, he gets his salary regardless. In fact, these delays mean more time for him on the golf course.

ST, you are an imbecile. Nothing is out of Brad's hands, he is the CEO FFS. He can tell MMA to f off immediately and press ahead, OMI hold the licenses ffs, all MMA had was an option to acquire ownership which they choose NOT to execute.

Brad is clueless about anything other than rock types it seems, either that or as Jackbal suggests he is is a bare-faced liar.

Who told him that purchasing MMA would be quick and easy? As CEO it is his fault to ensure that there are no surprises with the process and low and behold "unexpected complexity with the sale". Well sorry but that is 100% Brad's fault for getting the company into a process that he did not understand. Personally I think he is in Newmonts pocket and just doing what they tell him to do.

Why would I convince you Kemot, your the one making ridiculous statements like "buying MMA is definitely the quickest and easiest". Nonsense.

On a separate matter, it seems FOMC has lead to massive bullishness across many asset classes. Many miners seeing gains and interesting to see OMI up 41% in Canada to .085 which should be 4.7p on AIM. Seems far too high a gain to put down the sector bullishness - has some news slipped out I wonder?

Utter bs Kemot

Does anyone remember the webinar when Brad trumpeted "we have found a solution to the MMA issue - we are going to buy MMA, it is the quickest and easiest way to resolve". I thought that was a load of nonsense at the time and I am proved right.

I wonder who was telling Brad this nonsense though? "Let's buy MMA, quick and easy" because it sure as hell wasn't Brad's idea. Furthermore, the fact that Brad didn't just say NO, if they want out then let them go and we will document the exit terms in an 2 page agreement - it is just more mismanagement. I for one am sick of it.

Wolfman, I agree with you that OMI cannot prove up all of Anza alone, and also progress Argentina, that would be death by dilution. The plan is to use the data that we have to quicky prove a resource at Apta while drilling Pepas towards formal resource while seeking a JV partner at all times. The mid-Cauca belt in Colombia is not at all the worst area, there is water and infrastruture in place and a lot of other mining and exploration activity in the region. I think we will get a JV for Anza, I am confident of it.

Seingred, I am not sure what you are wittering about "some peeps need to do research on resource defination and what is needed to get to reserve status". It was Brad that said they would have a resource defined at both Pepas and Apta by year end. I asked you the other day if you believed him or not. I would double that time period knowing Brad and the fact that the MMA deal is not concluded. Will it be 3m all at once - perhaps not, I was just estimating. But it will be at least 1m and probably closer to 2 for a maiden resource, which will obviously expand as more drilling proof is obtained (hopefully under a JV if one is not arranged already the marketability of Anza with proven resources will help).

I'll say one last thing on the matter, the people who are afraid to buy, or are considering selling, because their might be a placement to raise funds for drilling should go and invest in another sector. Someone on the board kept banging on about Tescos the other month - try that maybe. The question "will there be a placing" is the wrong question to determine whether share price will rise or not, the question to ask is, what will the share price be, using market comparison and other valuation metrics, if the next 6-12 months is as fruitful as Brad states, and some of us believe (3m oz PROVEN reserves at least 1m of that from surface) - do you think a placing will impact the significant re-rate that will occur when the evidence of resource is obtained? That is a 5-10x from todays price.

Seingred - are you saying that you do not believe that OMI will be able to define any resource in the near term? Brad says by the end of the year although he is often overly optimisic about timelines.

There has been a lot spent on Apta to date, over $20m by MMA plus previous historical drill campaign. Brad's own words were that they just need to do a few holes as part of the formal process and they can move it to a compliant resource this year. Of course, they can do more drilling at further cost to increase the resource, as you would expect, but lets walk before we run, having a formal resource defined is significant.

Brad seems to think we can move Pepas to resource defination this year also; is he being overly optimistic as usual I do not know.

I would add that it does not have to be a placing - it could be a JV, there might be one in the wings waiting for the planned activity to show what there is at Pepas. It is not fantasy to think that a partner would want in and spend $20m + plus on drilling Anza to PEA, especially if there is a proven resource of 3m oz (my estimate) on only two of the prospects with half of that pit minable from surface (Pepas).

ST, your guess is as good as anyones. It all depends on size of new purchases verses holders selling and that is impossible to predict. Short-term share price can do anything! My approach is to try and value the company compared to peers and, if we have 100% of Anza and can execute this years plans then todays price is far too low, probably the biggest bargain in the junior mining space.

Legalw, placings are short-term, singular events if you like. The advancement of the project towards formal resource definition and thereafter PEA is what unlocks the longer-term valuation. If OMI can prove, lets say 3m oz across Apta and Pepas, what do you think the Anza project is then worth? Placings are largely irrelevant if the value that is being unlocked is larger than the sums being raised - this is the same for all junior mining - you raise and spend money to unlock project valuation.

I meant to say Apta $100m above

ART, it is no secret that OMI are looking for JV partners, or they will need to raise to fund drilling at Cedro and Argentina. Everyone can hear the plan from recent interviews, focus on proving up Apta and Pepas by year end. My understanding is if Pepas turns out to be big they may need more drilling hence will need to raise (or JV) that, but it is a nice problem to have.

Apta was previously estimated at 2m oz - that would value just the Anza prospect at $100m "gold in ground". Could Pepas be as big?

Just commenting as I watch the video. This is the best update in some time imo. Pepas resource definition expected "very quickly" upon end of 5 hole drill plan so that is both Pepas and Apta to 43-101 resource by year end. Massive catalyst and imo something for the long-term holders to be excited about for the first time in years.

Caveat this excitement with "pens poised" ofc.

Brad says current data shows minimum of 0.5m oz at Apta, if they can get that to a conservative figure of 1m that is a baseline valuation of $50m just for Apta. I am very happy to hear about moving Apts to resource definition this year, I had thought that surely they had enough data from historical plus MMA drilling to define something, and in my experience the Canadian investors like to see formal resource definition before perking up. We could fly if this year works out as per plan.

Wonder why they didn't tweet this out?

I wouldn't say "informed" Impec, just my own speculation. I think Brad acknowledged Collective as an ideal partner in a webinar a few years ago. I agree, but I have no special insight into whether Brad or Louis has any relationship with the Collective guys, or the liklihood of anything happening on that front.

I expect a JV with Collective to be honest. They know this area in Colombia better than any other miner, they have history there being run by ex-Continential directors who proved up Buritica and sold it for $1.4b and they continue to work in the Mid Cauca belt with two significant projects. If Anza is worth anything then it will be Collective to unlock it. Imagine what the price would be if we get a RNS annoucing MMA deal conclusion and new JV LOI with Collective? The stock will go ballistic. On the flip side, if Collective pass then OMI is in big trouble. Very asymmetric trade at this point. Either way, we will find out soon.

If we get the MMA purchase AND there is a new partner announced price will go ballistic, if not, we get diluted to death to drill-gamble on Pepas being an economical pit mining operation. Very asymmetrical opportunity here.