RE: OMI - The bullish counter argument21 Feb 2026 08:06
Element / Hydro should know better than anyone that it’s the exploration potential that can send the market cap to silly heights. Comparing to producers is pointless.
Look at GGP back in 2020, £1.6b achieved owning 50% of the project.
Look at Collective, £1.2b with as much as a maiden MRE.
Look at Wishbone, they got to £80m ish market cap drilling old holes which were poor running high solely on nearology.
But, the massive difference here is we now have a highly lucrative proven deposit on the books, racing towards production with very small capex costs.
Not only that but another large deposit numbering million(s) of ounces, ready to be pushed towards MRE in the near term.
Then…. We’ve got 360km2 & 560km2 of prime land holdings in two of the finest Au post codes on the planet.
Huge exploration potential, with a dash of proven deposit(s)
Rest assured if exploration fails on every prospect (unlikely in my opinion) Then Pepas will far justify the market cap in the longer term.
This company will be developer, producer and explorer all at once. Appealing to all crowds of the mining sector.
Primary gold, but soon hopefully see Silver in abundance also.