Member Info for Cnutgoestheeasal

Spot on breaktwister. It's now my 2nd largest holding after MTL.

Mind you Ron D's asinine comment about not being a development story just goes to show the dangers on relying on so called expert investors.

I suspect he knows his stuff but has too many holdings and spends time polishing brand Durrett. He's missed an opportunity.

I bought all the way down to 17.5 couldn't buy any lower and had to sell off perfectly good holdings to do so.

Did you get 16p? If so ace fella!!!

That they new finds are what.. 100m away from the MRE ore body. Whatever is discovered is pure bunce for the company since it will go straight to the bottom line.

Why? because all the setup costs will now be spread across two deposits not one. Also license applications can be easily extended to cover subsequent additions to the main ore body. So for the sake of speculation say another 50k is snagged. Add variable costs - tolling and trucking to the toll site the rest is pure pure profit with no additional lag required for license admin etc. An oz discovered at pepas will be worth multiple ozs discovered at Apta or anywhere else. No additional work will be required to agree a toll since the lithography is the same as the main ore body.

And before anybody questions the word tolling. THEY ARE GOING DOWN THE TOLLING ROUTE. No b/s about $100+ for a full processing plant. Yes they may go for an extra leg to extract copper but only if it add extra $$$$$$$. IT IS OPTIONAL NOT OBLIGATORY.

For any newbies by all means read everything but PLEASE PLEASE ignore the guff about huge capex requirements. The company have stated multiple times both in writing and orally that is GOING TO BE TOLLING.

OK - got that?

Well if it's true then the there is no point in trying to mine anything in the Philippines. Mining might be dirty and heavy on the Co2 but it can be a ladder for development. If the locals want to live in the stone age then that's their prerogative. If they think they can get rich without having to get their hands dirty then the Chinese biggies will come in and rapidly disabuse them.

It'll be a tragedy for them since the Chinese miners with take no prisoners and employ Chinese labour. The locals won't get a look in will end up with the worst of both worlds.

All those awards MTL achieved appear to count for nothing. It would seem

I try and avoid X as much as I can. Whenever I look at the official company page the company posts don't appear to be in any order and I can't follow them unless I sign in.

That I am not doing.

Just release an RNS the old school way. That's all I ask...

Liked it!

I'm am certainly no troll. Happy to wait for a considered RNS to come out before the end of the month but what annoyed me was that this interview in Feb appears to have been missed by both me and other investors. I contains some interesting new insights which delegates at the conference would have been party to but not me.

Access to information should be available to all not just the favoured few who can afford to go to these places. If there is an interview there should be an RNS pointing this out.

That's why I like it.

I've noticed that in previous RNSs MTL have appeared to be quite nervous about the predictability of the work required to connect to the grid. I'm sure they had it down previously as a critical risk. Maybe is says something about the presumed competence of the state electricity supplier or just that they like to be in control of all aspects themselves. Well now they are in charge save for the design, which hopefully will be straightforward to agree with the state electricity supplier so I take this as a significant reduction in risk.

I suspect they were too polite to make this point in the RNS

Depending on how they can access what they find e.g. cheap addit mine they can get the stuff out and send it to a toll partner as with Pepas. Just think two producing mines in double quick time!

He and the team have a lot on their plate. Making sense of El P from Argentina, the APTA essays you mentioned and the hunt for the source of Pepas. Oh yes! I forgot, the aerial mag.

I would rather they take their time and do a proper job.

Ok ok, sorry!

"This is mining exploration, if you think it happens without dilution think again."

I thought OMI were meant to be different to other explorers?

Seems you're saying they're not after all!

Yawn - make to my original point.

Strain every sinew think round every corner to pull cash forward.

Yes I believe it can be done.

Dr let me put it to you this way.

For the sake of argument say they have found something interesting at El P. They're sitting around a table with one of the big boys. Negotiation time.

Scenario 1 - the big boy knows that the company is short of cash (cos they do their research) and thus has limited options

Scenario 2 - the company has demonstrated to the market that thanks to clever planning and careful husbandry of cash reserves their is no prospect of having to raise money in the near to medium ter.

Out of these scenarios which would you rather be in when attempting to negotiate a good deal eh?

If you are worried about there being no bottom as you put it - then sell. There are two possibilities that come to mined about the precipitous price drop. One that this company has no future or a limited future. That can be anything from basically we've found nothing but rather not admit it e.g. WSBN to we've found so much we spavved all our cash reserves down some more exploratory holes. Oh dear we've no money what do we do now - OMI?

Oh you can have faith that the management do know what they are doing and are crafty foxes and will leave no stone unturned (pun intended) to ensure they don't have to go back to those fickle institutions that demand so much and give so little.

You decide!

I fully accept that I don't know when the cash will run out. But it's reasonable to expect that it will within the next 2 years and if they wait for the conventional permits to be given they'll be out of money by the time they want to start mining

Mate - I have researched and there is a way of bringing forward cash generation. It's not straightforward but I believe it is feasible. I even gone through the Columbian regs - suitably translated obviously. Cash is the big constraint. I just hope management understand it.

Dyor...

Yes I spent all of yesterday morning going through the technical report with the help of AI translating the more technical bits. I'm satisfied the investment cast is still there. I think the primary risk is that they run out of cash. For all the right reasons mind you since they have so many prospects to spend money on. The problem is that if they do get short of cash I will absolutely go to war with them since it'll just result in a dilutive share issue which benefits the institutions who'll then arbitrage the institutional advantage by selling. As for us loyal investors. Well we get shafted.

I think there's a way to bring forward meaningful cash generation to maybe mid 2027 i.e. before cash burn gets critical. I'm hoping they're working on this already but in any event I've sent an e-mail to them. No response yet and I may well post a copy of the email here at some later stage.

But I repeat lazy behaviour such oh dear we've been so busy ruminating over geology we've quite taken our eye off the financial ball. I know! Let's raise some more cash at a discount to current market prices say 12p!

THAT WILL GO DOWN LIKE A LEAD BALLOON WITH ME. THEY HAVE BEEN WARNED.

Thanks breaktwister - I'll have a listen. If that's all he said then he really hasn't grasped OMI's circumstances.

Could somebody remind me as to what Durrett said or provide a link please?

Sometimes - but lay off the AI!