Member Info for breaktwister

I just did the calc roughly Seingred as $50 is an easy number to work with. Each project will be different, but if we take a reasonable assumption that M&A activity will begin heating up then oz in the ground become worth more as the gold price rises, and if it continues to rise faster than inflation. I believe the last 2 years correction in mining stocks was driven by the fact that inflation was running hotter than gold price increases which I do not think is the case any longer.

I think it was reposted here recently Chicken. I think that old figure was based on the only known drill site at the time which was Apta. Imagine, we havent even scratched the surface of what is there in the surrounding areas. We know it is a VMS systems containing porphyries with high grade zones on top like we seen at Apta. Rick Rule is a fan of VMS systems.

The geology is certainly exciting, but can OMI do anything about it commercially? I would much rather have Brad fully focused on directing geology rather than dealing with the legalities of JV agreements where both he and Louis are clearly out of their depth.

Lets take very conservative numbers of 2m oz @ $50 = $100m. That is what OMI could be valued at simply on ounces in the ground, IF they can prove up Pepas without going bust.

I am starting to see a lot of junior miners move off their lows, following recent moves in majors. This makes sense given that gold has made new ATHs and is looking strong which means more favourable project economics. Surely an increase in sector M&A activity is not far off? One would think that OMI should easily find a partner for Anza.

You always want to see Director purchases, especially if embarking on a drill program. Surely once Anza is tied up they release an RNS then they can purchase - the only acceptable reason not to do so is if they are barred because they are in talks for a new JV, which I do not believe is the case but who knows.

At least there is a plan to do something, or attempt to do something, as soon as we get exit terms finalised with MMA. Two questions arise, what are these "factors outside our control", and how much is it gonna cost per drill?

Brad, Louis, and whoever the other directors are, need to buy significantly more shares. Other juniors I have invested in the CEO and Directors are the largest individual holders. Going forward, I will pass on any juniors where the Directors are not significantly invested, regardless of how good the project looks. Brad used to say that they would like to buy but always locked out because they had "market sensitive info", I believed him, then when the window opened they bought only a handful. If they had their own money invested they would not have let MMA drag this out for over 18 months. Not good enough.

Chart is beaten down massively, looks like huge value but I don't have time to do deep research on every company. Can anyone tell me why this has stuck to the bottom of the chart range while HOC for example has been rising with the lastest PM rally?

For those that are seeing my earlier comment now, at the time of posting the volume on TSX was 1 lol!

Brad loading up on TSX today...pens poised

J - explorers have to find good projects and then prove them up. No part of Anza has been taken to formal resource yet, that is why I still have hope. Brad said in an interview some time ago that the majors were not aligned to how a junior realises value. The majors were happy to take an estimate of an area, drill a few holes, estimate again, and then move to another area. Anza is huge, I think our land holdings is over 200km2 (from memory).

If we get back control we focus on one area and take it to JORC/formal resource. That primary target, until the Pepas drilling, was Apta as we know there are very high grades there. The fact that Brad said Pepas is now the number 1 target is very interesting.

The big question for me as an investor is why did MMA walk if Anza is so good? It is documented elsewhere that Newmont is streamlining and only focusing on the 10 best projects in the world, and Agnico never liked the JV terms, hence why Brad said Agnico might want back in, so these points alleviate my fears slightly.

Most long-term holders bought in due to the safety of having majors fund drilling to PEA, which justified higher prices at that time. Now, it is a complete gamble, could go to 0 or 50p who knows. Can Brad play an Ace? He must want to retire as a hero and not a zero surely?

If I recall correctly Pepas gold was very near surface, which would make open pit a possibility thus favorable project economics. Also, we wouldn't need to drill as deep thus drill costs lower? What I cannot remember is how difficult Pepas is to get to, I recall talk of helicopters to move drills which is something we do not want to be funding ourselves.

Cost of drilling is going to be so critical here if we to self-fund Pepas. I hope Brad the Geo knows how to hit the mlode as we are finished if we go for it and turn up junk/low grade/small deposit.

Just going on my memory here so if I have got anything wrong happy to be corrected.

At the risk of over-analysing "a very sombre mood for explorers needing finance" possibly means they do not have a JV lined up for when we get Anza back. Where are the funds going to come from for a drill program?

J - par for the course in junior mining, they have no revenue so they need to tap the market. Normally for direct drilling expenses (and to pay for salaries), which is why this very lengthly limbo at Anza has been absolutely brutal as all costs are simply salaries with no value being discovered.

I didn't think so bhargav, moreso explaining the process to our new friend as to why placement purchasers don't buy a placement just to dump the position immediately.

Also, many placements come with blackout windows, meaning the purchaser is not able to sell for 1-6 months. I have seen this type of thing for very large placements, I have no idea if it is common for tiddler companies on AIM.

J - the placing was at 2.95 and the price dropped to this on the news, so there is only a very small window, if at all, for placement buyer to take advantage. So no, it is not usual for placement holders to simply sell immediately, remember the placement shares come with warrants, so most purchasers would expect/desire price to rise so they can exercise those warrants in the future.

Johnstone, there is no way to find out but you can see the "largest holders" on the OMI website. The largest holders are us PI mugs through our retail brokers, HL etc. With regards the placing, you are mostly correct, however, the broker does not buy the shares then sell them for a profit, they get a fee on top of the placing. New shares are created and sold to interested private entities with OMI banking the proceeds.

Doesn't take much for this to have 10%+ days. Especially with gold breaking out and I would assume a lot of M&A activity in the market. Free float is typically low, there are a lot of 7 figure+ holders here and I guess not selling at 2-3p.

We should be drilling up high grade right now and rallying with gold. Instead we are raising capital at the lows with no value realisation in sight. No news or even a pic from PDAC. Sad.