Member Info for breaktwister

Correct Karl. We could be drilling up a few monsters here at Pepas imo. I for one will be holding and adding until we have formal resource confirmations.

Tweet this morning suggests multiple hits of 7-10g within 150m from surface. Wow, that is high grade open pit. Now all we need is confirmation plus overall size estimate. I added today.

From 5p to 44p in 13 trading days back in Sep/Oct '20. That was because of the planned drill program. OMI is now arguably in a much better place as Brad controls the drilling and we have all heard the good news about shallow holes (cheaper) and quicker turnaround from the Medellin lab.

5p to 44p in 13 trading days. That is what can happen here as the float is so low. I and many others have 7 figure holdings and for me not one share will be sold in the single digits.

OMI will have no trouble finding a new JV partner, they just need to complete all paperwork on the agreement with MMA first. I am happy at Brad using remaining cash on Pepas, share price should climb which places us in a great negotiation position with any new JV partner.

Carter, MMA was not "for sale" to anyone else. The deal is part and parcel of exiting an Exploration Agreement between OMI and MMA from 2018 that the parties were no longer happy with.

There are wins for both sides in this deal, and all to look forward to now for OMI.

A lot of miners have started to move but FRES stuck in it's lows. Doesn't seem right to me. At what price of silver does FRES start to rocket?

Looking back at some of the key events in recent years, in particular the 3 week run from 5p to 45p in Sep-Oct 2020. That run was caused by Agnico coming onboard, committing 700k to start drilling, with further project spend of $4m that year.

That is a massive run-up as the market knew from historical results that Anza is potentially a T1 deposit.

At present we do not have a comparible drill plan as we do not have $4m in the bank to spend, but we should have enough to drill Pepas and get the ball rolling towards a formal resource estimate. Remember, Pepas is only one of around 8 targets at Anza!

With 100% ownership all value creation from drilling and resource estimates should significantly boost OMIs stock price.

When the Exploration Agreement with Newmont was signed in 2018 ther gold price was $1200. Newmont then invited Agnico to take a share of their stake and MMA was created. If Agnico think they are going to get better terms than the 2018 agreement, when gold has nearly doubled, they may think again.

We are now finally on the right path, we just need the funds to get a resource confirmed at Pepas and we will be off to the races, we will have JV partners falling over themselves to take a slice.

Correct Starbright, feel free to reach out to them as to why, they will tell you what they told me "we do not want a legal dispute".

Starbright, I was not wrong and I will have to repeat it again because of your cheek. You have just shown everyone how dumb you are by trying to ignite an argument accusing others of being wrong when you do not understand the slightest thing of what is going on.

The Anza licences NEVER left OMIs ownership, OMI retained 100% throughout. MMA completed P1 and therefore had earned an INTEREST, which was a option or a right to enter into a new JV structure where they WOULD THEN be 51% owners. They choose not to exercise this right, and according the contract that means they should simply walk away with no rights or obligations on either party. They did not do so and OMI did not wish to enforce the contract so we have landed on the current deal instead.

No apology from me you cheeky f'er, quite the opposite.

GoldenCar, we have 200km2 of land under permit. Yes 200km. Pepas is looking like an open pit as very good grades from surface, the plan is to get that proven up and setup a mine there which will fund the rest of the project. Apta has high grades. There is at least one VMS structure and Rick Rule believes these always come in 2s or 3s.

Highlights:

Drill planning of Pepas will be ongoing while completion of MMA purchase is being finalised.

Drill costs 30% lower now than the peak costs that MMA incurred.

Lab work will switch to Medellin with a 3 day turnaround for assays.

Other projects now taking the back burner.

Https://www.youtube.com/watch?v=9a1sFDBvRc0

Agreed DrR, the costs of running the camp including licence fees are around 500-700k per year, something that OMI cannot afford so we need to get moving on creating value and securing a JV.

In respect of the deal, I am just glad that the debacle is over. It also values Anza at a minimum of $30m at present, before we prove up any resources. OMI is now undervalued on this basis.

The ball is firmly in Brads court now, he can structure a new JV as he pleases, hopefully it will require proving up of the various zones one-by-one which is what drives share price appreciation for a junior. He will no longer have the excuse of "partners are fully in control, we are hamstrung by the JV terms".

A turning point and surprised we are only up 6%.

Karl, your scenario is extremely unlikely. The fact is that OMI are at present 100% holders of Anza, the contract is clear that MMA get nothing unless they progress to P2, they have strongarmed OMI into getting something out of it. We have had 18 months of legal limbo already, if for some reason a deal is not made in the next few weeks, OMI should be telling MMA to "bugger off" and press ahead with the Pepas plan.

OMI would win hands down in any legal dispute regarding what MMA is entitled to (nothing).

I have been wondering recently if anyone is aware of Brad's history? I mean any notable successes in his career. The bio on the OMI site is not very specific at all, OK he has worked in and around mining but so what, I want to know about successes - what has he proven up or delivered?

That pen must be starting to get heavy now. Some poise on our guy.

They said they were barred from buying for some time due to having market sensitive information during the drill campaign. This was their way of saying "hey we are buying now as we can". It means nothing to me, a pittance.

Please explain then Dogger? All I see is a sector that has been in the toilet for 3 years, many stocks at lows and now lagging an explosive move in the metals. If silver can get past key levels of $26 and hold there thus year FRES will be much higher than 440 at year end. Silver is $28 on the Shanghai exchange.

Sure, Mexico had problems in the past year or two, but this seems to be improving. To me FRES is mispriced at 440 with silver knocking on $26.

DrR, I am sure Brad will find plenty of excuses, he always does. I want to see a drill plan for Pepas including costs. They will need to raise again, or get the price up to warrant level to trigger those funds. Hopefully the latter.