Member Info for DrRemington

Thank you AGEOS for using your time and experience and posting on here. Apta appears to be a resource in itself. Lovely.

If the $2m comes within a week we’ll have £4.5m cash at bank, about a third of our current market cap. Valuing 49% of Anza at £10m. Is that accurate? JV with two of the worlds top three Golds miners, paying for every inch of exploration at Anza. Two areas drilled to date, Apta which has gave us 23.75m @ 17.40g/t Au, 59.55m @ 9.61g/t Au, 70.50m @3.53g/t Au, 21.60m @ 6.02g/t Au amongst many more top assays. Pepas which has gave us 150.9m @ 3g/t Au, 80.55m @ 3.05g/t Au, 36.85m @ 2.13g/t Au from just a few holes. We have a El Pantano in Argentina which is very early days but is shaping up really well and apparently Newmont likes the look of. Tin JV in Brazil, an unloved metal that is very much in demand with the price starting to fly again…. Logic says it’s good value and to keep adding at these low levels, surely our time will come. We’ve achieved 40p plus on a couple holes at Apta. What more can I say.

Taken from the previous RNS from 17th Jan;
The process to create the Mining Company has now commenced and is expected to take several months to complete. During this process, MMA will be able to continue exploration at the Project, and any expenditures incurred by MMA during this interim period will form part of the Phase 2 qualifying expenditures.

They made us aware in the previous RNS that it could begin at anytime.

Nice update, $640k increase in cash balance, most likely a reimbursement from MA for licenses or some part of exploration we’d paid and also sounds like drilling has restarted;
Two additional holes are currently underway from new pads in an attempt to better define the geometry of the mineralised body at Pepas.

Phase 2 in theory is not yet 100% guaranteed, it is a certainty in most of our minds, but the market prefers concrete. Institutional investors are also apparently waiting in the wings for this. Yes, you have to take into account the % we currently hold which is 100%, soon to be 49% which will be come 25% eventually if we get to the NI 43-101 stage. The current negotiations are in regards to phase 3 and obviously the spend. The majors likely want a cap, Orosur then obviously wanting every avenue of Anza to be drilled and tested. Buritica did 350k Metre plus.... Brad and team still standing firm, at the end of the day they have to adhere to the original JV terms or walk. Agnico have come on the scene trying to flew there muscles and show us why there now the third largest gold miner in the world. Not sure what input the number 1, Newmont are having but the original terms were solely with them. For me Agnico can bail and let Brad and the Orosur team lead the Exploration as they did before Agnico decided to take over, when we saw much better results and a much more animated Brad.

The overspend is carried over to the next phase though this only applies to phase 2 as there is no specified amount they have to surpass in phase three. Newmont may elect to earn an additional 10% ownership interest in the Anzá Project by completing an NI 43-101 compliant feasibility study within four years. The complete spend on exploration could well and is expected to, from Brads mouth via phone call, exceed $100m.

Nice to see Zanaga finally moving after all these years,. I only hold a fraction of what I did but if it gets anywhere near the IPO I’ll be a happy man.

Thank you Ageos, your input is always valued and highly welcomed.

Many have different approaches, trading this has most definitely been the wisest though I’ve not really been checking the price too often to be moving in and out. If a decent spike comes along I’ll chance my luck with the stock I purchased quite recently. I missed the bottom as I genuinely thought we’d get a chance to buy around 5p, but was too hesitant when below 6p. Glad is didn’t go that low really, as Bhargav says 6p to 8p looking like a base. I’m happy to hold years for true value, but most certainly will be trading some. Good to luck all. Golds starting a run again lets hopes it carrys on as well overdue in my opinion.

Negotiations are still ongoing Wolfy, if the majors are demanding more and OMI board are sticking to there guns what do you expect to happen… 20 rigs to turn up and start attacking Anza? Phase 2 is when the apparent real drill campaign starts, until the new company is formed and phase 2 confirmed then nothing much is going to happen.

I read it as they’ve agreed to pay the $2m so phase 2 is in the bag, be patient as it is a long winded affair. This update has put me at ease somewhat, they could have not released anything and left us questioning whether the JV goes ahead, this clears things up.

A usual Tuesday RNS will be more than welcome.

Is Friday the new Monday for OMI, we’ve seen increases in volumes Fridays a fair few times over last month or two. New could land at any time, the $2m payment for phase two could land or an update from the Newmont fancied El Pantano project in Argentina.

Gold dipping it’s toe in the 1900s. Nice to see.

Here are the most substantial results from the most recent drill campaign since the start of the JV with Newmont and Agnico Eagle.
Apta (Drilled first due to accessibility and historic drilling)
MAP-072 70.50m @3.53g/t Au, 9.33 Ag and 1.62% Zn
MAP-073 21.60m @ 6.02g/t Au, 6.02g/t Ag and 3.23% Zn
Map-075 37.5m @ 0.72g/t, 1.8g/t Ag, 3.58% Zn
MAP-076 12.25m @ 5.39g/t Au, 1.65 g/t Ag and 0.18 % Zn
MAP-079 23.75m @ 17.40g/t Au, 1.84g/t Ag and 0.19% Zn
MAP-079 0.4m @ 948g/t Au, 57.7g/t Ag, and 0.7% Zn *1kg Gold
MAP-082 29.45m @ 2.50g/t Au, 1.95g/t Ag and 1.08% Zn
MAP-086 18.72m @ 2.85g/t Au, 2.95g/t Ag and 1.59% Zn
MAP-089: 59.55m @ 9.61g/t Au, 6.23g/t Ag and 3.75% Zn
MAP-090: 6.05m @ 9.91g/t Au, 1.56g/t Ag, 0.58% Zn
MAP-091: 61.75m @ 2.05g/t Au, 3.3g/t Ag and 0.82% Zn
MAP- 093: 14.85m @ 1.60g/t Au, 1.08g/t Ag and 0.79% Zn
MAP - 096: 51.55m @ 1.32g/t Au, 1.34g/t Ag and 0.35% Zn

Pepas (All Pepas Strike starts at Surface)
PEP-001: 150.9m @ 3g/t Au, 3.16g/t Ag and 0.15% Zn
PEP-002: 37.25m @ 0.54g/t Au, 0.55g/t Ag and 0.06% Zn
Pep-003: 32.55m @ 0.61g/t Au, 1.2g/t Ag and 0.01% Zn
Pep-005: 36.85m @ 2.13g/t Au, 3.74g/t Ag and 0.07% Zn
Pep-007: 80.55m @ 3.05g/t Au, 2.91g/t Ag and 0.15% Zn

Currently at loggerheads with the majors is far from ideal but cements the fact they themselves are extremely bullish on Anza. The phase 2 drill phase has yet to be started as negotiations still ongoing, Agnico obviously trying to get the upper hand before it starts as they most likely know the share price could very much get out of hand. Hopefully Brad stands firm but it’s David vs Goliath. If we have to concede adjustments for phase three then so be it as long as it benefits us in the short term. I’m sure many will have moved on by phase three anyhow. When the phase two confirmation lands, it could be a rocky few months up until it, from this level we should fly 100% plus. Switch off from the daily share price unless adding is my opinion. Good luck to all. 100 staff laid off to pressure local governments to get there act together, all permits hopefully be ready to new attacked once Phase 2 officially begins. Argentina assays have to be close, Newmont apparently like what they see at El Pantano. Good luck to all.

Yes, they have done extensive field work in the south which I would have imagined was so they could crack straight on in phase 2 before they hit this current stumbling block. A hell of a lot of sampling has taken place all over Anza, they must have plenty of targets in mind once drilling commences.

Jebgooner, I think the fact that we’re still here waiting on a resolution 4 months beyond the deadline for Phase 2 speaks volumes on Brads stance. Apparently negotiations started in July, so they’ve been at it 6 months or more. Agnico have downed tools and us shareholders have felt the brunt of it yet Brad is staying strong. Good on him on this occasion finally a rose appearing amongst his many thorns.I’ve emailed Brad querying the goings on in Argentina and had no reply… That to me signals news from there is close and if Newmont like what they see then it should be decent at the very least. Morning RNS???

The $40m you quote in regards to Apta drilling also 100% includes the historic drilling program of 18,000m by Waymar, whom Orosur acquired Anza. Brad is currently playing hardball for changes the majors are trying to make in Phase 3 of the JV. It will not affect us short term but will in the long term. The long term realistically is likely the be 2 years max with three carried over spend from phase 1. Phase 2 will be over in no time if they set about Anza like I imagine they will. I can’t see an offer to buy us out coming anytime this year or even next. It is legally impossible until after September 2023. If they did attempt a hostile bid would it invite offers from Zijin? And other goldies activ in the region? Shanta Gold recently had an offer from Yintai gold that provoked offers to then come in from shandong gold and chaarat gold. I’d hope that would most certainly happen with us if Minera Aguila tryed to take us out on there cheap. Still to this day the surface has merely been scratched at Anza. Newmont came here mainly for La Cejita, now called La Virginceta, I’m eager to see what that throws out. Many of the Jewels in Anza crown are yet to be touched. I’ll patiently await the day that they are, possibly trading a number of my shares once we get the inevitable spikes.

It could be a delay at Brads end also in regards to the new company formation. Here’s part of an email received from Brad in which he’s talking about the majors having much more information on the field work from Anza than he and the Orosur team have been privy to.‘But in terms of being informed – we have to be, eventually. Moving to phase two requires some negotiation of JV terms, and that is something we have made plain we are not prepared to even think about until we have complete access to all the same info that Newmont/Agnico do, and have had time to digest it.’All will be well once Phase 2 confirmation lands. That’s when the real drill stage will start. In regards to the overspend the money is deduct from Phase 2, this in effect will just get us to phase three even faster where the spend could be in the region of $50-$60m according to Brad from my phone call a couple of month ago.

Chicken was just playing on portfolios posts when he said a billion I think, he wasn’t serious. Yes Continental did a hell of a lot of drilling on Buritica, hopefully we will too over the next 2 to ten years.