Member Info for Chickenlegs

Apologies. I sneezed and posted thet by accident (full of the cold) :)

We will see portfolio. Most long term holders expect that new company formation is in the bag and are just waiting now for the RNS to say that new company is formed, payment is received and that drills are to restatt

Webbs you've missed that boat I'm afraid...maybe about two months late :)

To be fair Dr it is a nice price to be buying (in my eyes anyway). Done quite well catching the 6s and grabbed a few last week at mid 7s. Being honest I have enough but I still want to try and get a few more top ups in before new company formation RNS (finances permitting). Realistically I want this done in the next week or two. What I don't want be doing is chasing the share price in March when I expect traders to start circling. Most of us who post quite regularly on this board want to see orosur succeed and tap into the potential that we think Anza has.

Happy haddock I agree with what you are saying. The results from Pepas and signalling to go to phase 2 in September was the perfect exit for anyone who had had enough. That was basically for me anyway the time to make the decision re phase 2 (Do you stay or go)...as it is, on reflection weighing positives and negatives at that point in time, ultimately for me it was to stay for phase 2. I don't think anyone who had the same thought process will leave now before we even really get started as this phase on paper promises much. I don't think anyone really envisaged new company formation taking so long to iron out and the drills then to cease (though I can understand the rationale). We know that market forces place onus on regular assays coming to the market, and share price tends to overcook on stellar results. On that basis and where we are currently, share price/ mcap is actually an advantageous one for would be holders. One thing I missed was the changes to the tax regulations in Colombia which was quite a big booboo on reflection, which is on record as one of the obstacles in negotiations. I am sure there are other sticky points as well...We should in theory not be too far off these issues being rectified. Hate to say soon, but realistically it should be soon (in mining terms). Clearly we want the agreement to be right for orosur and for it to be watertight. Hopefully phase 2 in in-fact condensed into a 2 year program and the ducks on all projects are lining up to kick it off this year with a bang. In that scenario we could be in for a treat but obviously the jury is firmly out until the market starts to get updated on proceedings.

And also for the record I am bullish on Anza I think it has potential to be something special. All I want to see is some real progression. Not sound bites, not a drag for months with nothing happening. I had considered selling out completely after Pepas results in September. Decided to stay for phase 2 as those results from Pepas were truly fantastic, absolutely class. Bear in mind these were also coupled with some really strong results at Apta. At the end of the day there's hardly any of the land package touched, we've only really scratched the fault, we haven't progressed in to the areas that we probably all invested for. Want to see the ball rolling and getting into them. So yes there is land there that could bring us investors real value and profits, that is if we ever get past just going through the motions.

I don't think it's stock market exhaustion. I just think it's long term holders airing frustrations that have hampered proceedings over the last few years. There are a numerous red flags. One being voting issue, another being holdings of the directors another being the lack of real progression (apart from a few holes at Pepas) there hasn't really been anything happening. Brad can talk about the best lawyers drawing up contracts, or a 100 plus team sampling away, that Newmont think Argentina is the bees knees etc but if you strip everything back we have:

1. Main plot (Anza) - work stopped - new company formation in process (apparently), a bit of sampling (won't be disclosed to market).

2. Argentina - ? Sampling/ results to come ? They should be back by now. Tucked away for a rainy day.

3. Brazil - forming local companies (tweet - control room set up July 2022 - since then nothing).

We can all say how marvelous Anza will be in the future but market not interested in a crystal ball reading. What the market wants is cold near term hard facts of progression. They want to see actual things happening and recorded in RNS format that we are actually doing something on the ground and not behind a desk. To be honest I agree with that completely.

Brad's PR campaign in all honesty has been atrocious...he does his annual travel, goes to a few shows, does the odd presentation, sips coffee in funky Colombian coffee shops and takes pictures of assay sheds, or pictures of tin that belongs to someone else. Hardly a ringing endorsement of serious progression.

I do think new company will be formed, that money will be received and we will re-start Anza around the same time. I also believe our next assays from Anza will be good..so there is hope and a bit of light at the end of the tunnel. But for punters to stay the course things have to crank up a notch, or as other posters have alluded too, punters will flee on the 1st spike they get. Perhaps management don't care as long as they are picking up wages and bagging themselves options?

Yeah I think the one thing everybody can agree on is at this price, the risk/ reward with events that are potentially on the horizon look favourable....if all realised. Most of us are board though and by this stage just want to see something that defines progress on a few fronts.

That would certainly be interesting but something probably will have to be inserted. Once new company formation is through the documents will be uploaded to sedar as a new agreement. Will be worth reading for any serious holder.

And not a throwaway comment in a webinar that Newmont like Argentina.

I agree. It's all fair and we'll saying what Anza will become x, y, z in the future and I'd like to think that in time with majors on board that the area will be proved to be an inspired choice but we do also have to look at the here and now also. It's got a good chance of being something special, otherwise I wouldn't think Newmont, Agnico would be in the mix but there will be a journey to get there. A long one going on past performance. I'm looking for shoots of progression over the next few months and signs that the majors are taking this land package seriously and not just going through the motions. As Seingred has pointed out we do have other areas, but to bring them on will take finance, hence they've been on a cool simmer since they've been acquired. Brad made reference that Newmont like the Argentinian play. Would like to see some evidence of this and big just a throwaway comment in a webinar. Apparently money was meant to land in Omi's bank soon a few weeks ago and it has still not landed, and apparently some works to bring to market from Argentina.....those along with new company formation being through would be a start. Then we can take it from there. Don't think it's alot to ask for when it's been going on for months.

Rob, Seingred has his views and brings balance to the debate. He is basically just saying other miners in jurisdictions similar to Columbia, with bigger war chests have x amount of value...some producing as well. He is not dismissing what Anza may become in the future, but merely logically pointing out that to reach similar valuations that Omi will have to accelerate drill program, majors to find more coin to push it on and perhaps bring it to production in time.
Basically to value Anza realistically against other South American peers and not projects in Australia for instance. I don't think he is bearish on Anza, he is invested here and obviously sees value at certain price points and I'd suspect that as you've stated the postcode is "elephant country" so he probably is just as excited to see the project pushed on. I'd imagine if Omi get to the point where officially we have 5m, 10m, 20m Oz then it's a different discussion we'd be having....no one can deny though if we can get a sustained consistent drill phase and find multiple strikes in other areas then Anza will be shaping up very nicely and surely that's what phase 2 will be all about, perhaps revisiting Apta, getting back to Pepas and drilling further south at more fancied areas. We are at the mercy of the majors timelines and plans but on the flipside the mcap is so low that if Anza is proven to be looking big (which our friend Ageos sees from a geo perspective) and if we can give it time to mature, we should all do very well. Also as portfolio pointed out, if Anza keeps producing the goods then a take out at some point wouldn't be out the question, doubt if it proves to be big we will be in the mix and as rightly points out, we will only know when the RNS pops out. I also suspect the only reason we are down here is because the drills stopped and we have the drag on new company formation. Get that out the way, drills turning again and hit finds similar to 1st Pepas results and we will be back off running. If we were still drilling after the last set of results, we'd have still dipped but I think we'd be a bit higher than where we are now.

That's true Seingred we know that the spend so far is really chicken feed in the grand scheme of things and the money to be secured for phase 2 is not going to scratch the whole Anza land package. Will be interesting to see how the majors attack phase 2 proceedings and how quickly they plan to spend phase 2 finance. There is alot we don't know currently but more light will come over the next few weeks I am sure. Hopefully it's worth it for us holders who have suffered a stop start program over the last couple years. I expect to see Pepas at least re-starting when we have the new company formed, with new pads and direction identified. As stated before I feel they will get that right this time.

Reading an article today from BN Americas exploring Colombian mining assets. An excerpt....

ANZÁ

The Anzá project is located in the western cordillera, some 50km west of Medellín and 50km south of the Buriticá high-grade gold deposit.

The initiative, which is currently in the pre-feasibility stage, includes the objectives Aragon-Pastorera Trend Area (APTA), Charrascala and Guaimarala.

It is an open pit and underground project being developed by Orosur Mining. It is subject to an exploration agreement with a purchase option with Minera Monte Águila (MMA), which is formed by Newmont Corporation and Agnico Eagle Mines.

On January 17, Orosur announced that it and MMA were advancing with negotiations for a JV agreement that would lead the development of the initiative. The process to create the JV company has already begun and is expected to be completed in a few months' time.

Anzá is considered to be a project of strategic regional interest (Pire by the Spanish acronym) and around US$24mn has so far been invested in this hydrothermal deposit.

So US$ 24 million already spent on Anza with more to come in phase 2.

I agree bhargav. Have enough shares in all honesty, gathered a good portion sub 6 but also alot higher than today's price but at mid 7/ sub 8 the risk reward on shares bought are extremely favourable. I aim to add a few more on the weekly. Felt payment would have come already but coming next week to second half of February going into march works for me. The window of now to end of February is the optimal buy zone. Was hard to get today, lurkers obviously seen value today also by buying on the crafty drop. We know money payment sets the tone for a raft of updates leading into the new company formation (which market is going to gobble up due to the certainty and safety it brings). The month of March will build up to a frenzy as the turner pope milestone date approaches. Bigger players will enter. I plead with the little pi's if on sidelines to start thinking about getting your chips in now if not all ready or raid the piggy banks as things will start getting tasty here in a few short weeks.

I can agree with above posters. I topped up around 10,000 shares mostly at 7.59 and the last lot going through 7.75. Seems strange to drop it today after holding it above 8 for so long. Difficult to get though.

I'd expect the $2 million payment any time now pp up until next few weeks. Hard to call the payment dropping as it can pretty much come any day. The only certainty being as each day passes, the chances of if landing gets stronger. It should at least consolidate the share price and add a degree of certainty to phase 2, though holders pretty much know that it is just a matter of time . Should be followed by news from Argentina shortly afterwards and I'm expecting new company formation and drill plans/ drilling perhaps re-starting come end of March. Would be good though if everything, for a change, was sorted ahead of schedule but I'm not holding my breath on it. More likely to overshoot as usual. Makes no difference to me as I'm not planning on selling. Hopefully some sort of unknown transpires to catch the market off guard. An ace up the sleeve so to speak.

Bhargav I do think the market likes certainty as you have pointed out and currently we technically stand exactly as we did a couple months ago, we are just a few months further on in negotiation with a disclaimer "money coming soon". Omi do have form for missing deadlines and not meeting holders expectations so that aspect has to be taken into account as does the yarns Brad spins. A close eye should certainly be kept on the pace of drilling activity here in the future. Without consistent drills turning at Anza it is going to be a long hard hold and would be better traded, but I just feel the RNS of new company formation will come with drills restarting and market will like it. I also believe the next drill results that will come from Pepas will be decent. For me I have held this long now, I don't see the need to rashly throw my toys out the pram when we should be on the very near cusp of phase 2. Though if we aren't drilling right from the off of new company being signed I think I'll throw a tantrum and for me I have to see a clear escalation in drilling activity to be truly excited. Jury is out and the goodwill credit that long term holders have shown over the last couple years has been used up. Brad if you are reading this. You need to give us a bit more :)

Will be interesting to see what happens when phase 2 officially kicks off with new company in place etc and we get a sniff of drill plans. Can't imagine they won't revisit Pepas but will they go back to Apta this year? Surprised that the market are sleeping on this, which for me is always a good time to invest. It's a pity my finances are a little tight, though I hope to grab a few more in next few weeks. If nothing transpires this month, though we expect payment (had a little feeling it be today sigh) then come March I expect interest to start perking up as turner pope have conclusion to be reached around the end of Q1 2023. So not too far off in the grand scheme of things. The 2 million payment might spark a bit of interest, especially if that comes closer to the end of this month, with news coming from junior projects to fill the void of march....until we get that big RNS, which will be big news in terms of omi). We also know that Omi moves extremely quickly on positive news and considering it seems that it's pretty much in the bag, I just can't fathom why trades can't even get over 10 in a day currently. I expect the usual hysteria as we move closer to the end of March. Snowball effect.

Surely we are about half way to new company formation. Should really receive 2million payment imminently. There must be data to release from Argentina shortly and we have not heard a jot from Brazil since last year, so you'd imagine that in the coming weeks there will be something to digest on that front. Anza is not going anywhere, it's a waiting game while things are thrashed out. Phase 2 will come and that RNS when it does should be worth its weight in gold. More prominently I'm looking to see how the majors plan to attack it. It's all I am waiting for. There sure seems to be alot of sampling going on in the last two years or so, and there should be more knowledge accrued at Pepas, so I'm pretty confident that once the drilling starts that it should be fairly consistent and the assays will be ones that the market will like in main. There will be a frenzy when an RNS states new company formation through, drilling restarted with headlining budget to blown in this phase. It is coming, it is just a matter of when.