Member Info for breaktwister

Yes Jackbal, although those comments were around the negotiations. It seems Brad is saying negotiations have concluded for now, which raises many more questions, e.g. has a new company been formed? If not, who is the legal owner of the Anza mining concessions at present? As holders we have every right to material information about agreements that have been entered into around ownership of our main asset.

So we are now a minority holder in our flagship project with no indication of when anything might move forward. Genius stuff. I hope there are harsh penalties in the contract for a Phase 2 failure to perform. MMA surely cannot be permitted to sit on the project for years, not pay anything, and then keep their 51% while OMI goes broke? I have emailed Brad. Lack of transparency around the contract is shocking.

What happened with GGP? Their major walked away and how did that cause price to boom exactly? Did they find a new JV partner or dilute to fund project progression themselves?

good points Bandit. I am furious with the lack of transparancy into JV terms, where does this mothballing leave us legally if Phase 2 simply passes for 4 years do OMI get 100% ownership back? I am going to have to email the company and ask for clarification of terms. Furthermore, all info is now in the public domain so I expect to see director buys, they no longer have any excuse on this.

Just trying to process how this might have played out. MMA wanted to change the terms of the JV, Brad said NO, so they are trying to smoke OMI out of the game by doing absolutely nothing for 3 years? What a terrible contract that allows this, Phase 2 should have been structured that $5m would be spent each year over 4yrs or suchlike.

If I understand correctly, Phase 2 requires $20m to be spent over 4 years, of which $4m has been "carried forward". Firstly, I was not aware of any such carry forward clause, was this in the original contract? Secondly, if MMA choose not to progress we could be left sitting for another 3 years in this position before we can seek other investors as we are now locked into Phase 2. I have to say I did not see this coming. It stinks of a major fall-out.

Yela, we are thinking along the same lines, I posted a few months ago that a new agreement might have a minimum buyout clause which could rocket the share price overnight. Good luck to those sitting on the sidelines waiting for an RNS to buy back in.

I would be surprised if there was any further negotiating between MMA and Orosur on JV terms. The payment of the $2m likely indicates all terms agreed and the delay here is around best structure for the new JV company so that the Columbian gov does not screw us, perhaps there is an element of working with the gov on this and as we know gov is very very slow.

Jackbal, no companies will disclose granular aspects of negotiations like you seem to think investors should have knowledge of. None. There could be one or two minor points still on the table for negotiation, there could be a major point, who knows but at least the $2m was paid, as with all data points investors can make of that what they will. My view has not changed, I am a buyer under 8p for sure, no other opportunity comes close in my view.

I have a trading account (spreadbets) separate to my investing account and I typically focus on commodities and indices for trading, with a rare FX trade, as the spreads are so low. Trying to spreadbet AIM stocks is painful!

I joined the 7 figure club yesterday. 7p is just too silly. Good luck to those trading, I never really understood this trading AIM shares that have high bid/ask spreads but it seems that some of you can make it work. I just buy the dip and hold.

If a dealer cannot tell authenticy of silver coins he is in the wrong business. We are getting way off track now so I will leave it at that.

Hi thorny, I am not a dealer or professional seller but have happily and easily sold on ebay. Obviously, it is a slow process if trying to offload lots of single coins but the point is nobody should be selling to dealers beow spot unless you have a huge volume and need it all sold immediately.

I do not agree with that risk Thorny. Quite often the premiums on coins are way higher than the fraudulent Comex/LBMA paper price. For example, right now you can sell coins easily for £28 plus p&p on ebay. Spot price is £18.32. Cheapest I can find is to import from the EU and save on VAT £22 per coin. In short, if you are able to buy at times when spot prices and premiums are low then you should make money in the long run. If I had bought more physical silver than HOC I would be MUCH better off today.

really pleased? Hmmm, I bought this years ago around 250p when a noob to precious metals investing, silver was $16.
Everyone said "miners give 3x leverage to silver price gains". If that was the case I should have been able to get out at £10 per share when silver went to $30. Nope sitting here at 70p. A joke. Woulda been much better off just buying the metal.

Nice work AGEOS, thanks.

re: timescale, each Phase is timeboxed. Once Phase 2 starts 20m must be spent in 4 years or our partners loss the right to any further equity. Of course, we currently sit in an unboxed window of time between phases, which to some is unfortunate as price is not moving. Personally I am quite happy as it allows me to keep buying at a bargain price.

AGEOS, your conclusion is correct, exploration work can continue but there is no gaurantee of that and my view is that any works prior to formal JVA will be minimal. However, could we be surprised by an RNS to say significant exploration/sampling has started and drill plans are being drafted alongside JVA progress? - yes this is possible.

How low are we going to go here? Back to 6p it seems. Quite unreal when we have a fully funded $20m drill program starting this year and already know that there is high grade in one area and significant deposit near surface in another.

I can only conclude that MMs have decided that more people buy when the price goes up but they are in "collect" mode meaning they push price down to scoop up stock to sell later and higher.

This is an interesting situation where value investing conflicts with trading mentality. Very good points Chicken that if you believe you can buy in at the same price or lower in 6 months time then you should sell. I wish I could do this but the value investor in me will not permit it as my post earlier, I regard OMI minimum valuation on a cash basis of $4m in bank plus $20m to be spend on project with no valuation assigned to Anza which is utterly bonkers given at least $15m has been spent on previous drilling. Any further reduction in price will be snapped up very quickly by long-term value investors using the same logic as me.