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Strange price action today. I bought for 6.02p when the SP was 6.125p?
Reality check - The results today were outstanding compared to some dog miners on AIM barely giving 0.5g/t. So good that a 4th rig has been bought to site.
With 4 rigs turning we can now expect further results monthly, not forgetting that further licenses will be granted soon as well as Newmont taking over operational control.
This price has fallen due to short term traders taking their profits as they are entitled. The reality is that shares are trading at 6p less than they were Friday afternoon, hardly apocalyptic. This price will be peanuts compared to where we are in 3/6/9 months, make no mistake.
Yes it seems so. I am being offered 1.21p to sell despite the SP being 1.20p
I am in. Drop is way over done and will be 40s again by the end of the week
I prefer:
11m Oz @ $2,000 = $22bn
Cost @ $900 per Oz = ($9.9bn)
Net profit = $12.1bn
OMI share @25% = $3.025bn
$1=£.073 so £2.208bn vs Mcap of £50m today.
Now imagine the price of gold goes to $3k and beyond... remember the extraction costs are more or less fixed..
Drilling has started off slow but is going to ramp up as stated by the CEO. Soon there will be multiple rigs at multiple sites as 4 years of drilling has to be done in 18 months.
The drilling and SP will ramp up significantly in next few months imo. The only thing to consider is whether you'd rather be ahead of the curve and buy in now, or chase it upwards.