Member Info for breaktwister

Rob, if you email info@orosur.ca and say the email is for Brad he will get it.

I don't have time to learn about maps etc, so I'll just put my question here and if anyone has the knowledge it would be great to understand the likelihood of the PEP deposit expanding east, given that the drills missed to the west.

I assume negotiations are complicated by the fact that there are three parties. Does anyone know if Agnico and Newmont have split the bill for phase 1 50/50? Agnico was running the show it seems, perhaps they ended up spending more in which case they might have a case to demand more. I cannot see either of the majors walk, Newmont will not want to miss out again on a project in this area, plus they own 22% of OMI anyway (correct me if wrong on this, just going from memory).

I am going to need to see the directors put their hands in their pockets or I will start offloading. Unless I have misunderstood the directors can buy when the public knows everything they know, so the recent RNS and Q&A sessions should have allowed director purchases no?

Did you get your buy through Impecunious? I see 71k went though at 6.67 when the ask was 6.5. So you can certainly not buy huge volume at the quoted prices.

FInally got the order through, just updating for transparency.

MM are playing games, I cannot buy a fairly small amount via IG ISA. They are happy to crush price 60% in a week but refuse to sell to buyers.

Finds = funds, I should not post after a night out on the whiskey:)

Well, the fact that I see long term holders talk about progressively offloading tells me sentiment is at rock bottom. I use myself as a sentiment indicator also. My conclusion is a asymmetrix opportunity so I plan to buy more when finds are released next week and the same again in January. I am not holding millions like some but I wish to build such a position at these prices.

Just wondering at what point our partners start offering to buy us out? Especially if Brad/Louis are playing hardball it would solve MMA headaches by offering a buyout at 14p double current mcap which infuriatingly was our price just a week ago. Why not if they know they will have to pay even more later once a massive tier 1 is proved up?

ROb, there is a lot of misunderstanding about the JV terms and I was a little surprised that Brad and Louis did not make it clearer on the Q&A, I guess Brad aluded to it with his "we can tell them to bugger off" statement. But the fact is that OMI are 100% owners of the project at present until Stage 2 is entered into. Now, MMA have the right to take a 51% share but that right is based on previous contract terms which as we know is up for negotiation. Legally OMI has a very very strong hand here, as Brad said in the Q&A, "what is in it for us" if a new JV terms are more favorable to MMA. Unfortunately, as you say Rob, OMI can be bullied by way of financials/share price as we have just seen.

Normally, if a junior pulls up nothing then suspends drilling it means the project is at high risk and you would expect a significant decline. Not the case here, what a gift.

Pebsi, my view is that the RNS did not warrant a 40% drop from already low valuations, hence I am a buyer within the constraints of overall portfolio risk. What did the RNS reveal?? There was no contract in place for the recent drilling, Phase 1 ended in September and drilling continued on a gentlemans basis, which has stopped for a few reasons 1) the new JV structure will take longer to put in place than anticipated, however, the fact that MMA have lawyers working on this shows they wish to proceed 2) Agnico using it to try and gain some leverage where they have very little. 3) They missed with the last drill (some suggest on purpose to gain leverage, surely not!) but the area is still high potential for 10m oz+, at least 5m or we would not have the number 1 and 3 miners in the world paying all project costs.

Correct Chicken, this is MM bread and butter filling their tank with fear selling from PIs. I think this is part of why the high time-frame swing failures I discussed below are strong patterns, MM's push down until all the weak hands are gone.

Yes mate, matter of interpretation is all. From their email they have completed Phase 1 and "earned" the 51% for Phase 2. Of course, they can choose to walk away completely or to attempt to renegotiate. On the same token OMI can say NO to any re-negotiation which is extremely unlikely, if not impossible as then relations would be strained. I have no doubt a sensible way forward will be achieved which is why I say this price decline is a gift for the patient investor.

bhargav, phase 1 has ended and MMA have the right to take 51% on the terms previously agreed. In that sense the Agnico email is correct, they have done what they needed to do to earn their right to progress to Phase 2. However, as per Q&A there are two blockers, 1) Change of govt in Columbia leading to delay and new rules around company structure/taxation which was not envisaged in the original terms 2) Wanting to re-negotiate some of the terms, lawyers etc. I thought the Q&A covered this well.

pebsi, you are approaching this with a traders mentatility believing that one should only buy when news is expected and that the news magically increases the value of the company. I hold a different view in that the company is grossly undervalued right now and, thus a gift for the investor.

I don't normally do technical analysis on AIM stocks but I also no not ignore major patterns. Yesterday we completed a daily swing low which dipped to 6.89, past the previous low of 7.03 on 15th Aug, but then closed above. Daily swing failures are powerful enough in themselves, but what I am watching for, if this remains the low into Jan we will have formed a swing failure on daily, weekly and monthly timelines which is a very high probability that a major low has been formed i.e. reversal of trend and higher prices ahead for a trending move on the monthly. If you want to see just one example of how powerful this pattern is have a look at the monthly chart, the low in Sep'18 was 1.5 then we dipped below in April'20 to 1.45 but closed above at 1.8p. We proceeded to 45p in the next few months.

DrR, I have to say I was surprised that Phase 2 has not been signed smoothly, but in hindsight it makes perfect sense for all parties to play hardball, typical negotiation stance of asking for a lot and willing to settle and compromise somewhere in the middle. I was glad to hear Brads "we can tell them to bugger off" comment in the Q&A. I don't think OMI will be a pushover here and clearly looking out for our interests into Phase 3 and beyond, although I would be surprised if we were not bought out before then.

re: Brads comment in the Q&A as to what leverage OMI has now that Phase 1 is concluded. He said "we can just tell them to bugger off". LOL! Brad gets a lot of flack on this board but I like him, he is a no-nonsense guy.