RE: Help needed please4 Sep 2025 09:58
Oaft …. SXX!
I never liked it, the cost of building a mine under the North Sea seemed prohibitive and risky.
OMI will be mining from the surface (lower risk)
OMI will be looking to use nearby facilities to process the ore rather than invest in, commission and iron out teething issues for their own plant (again lower risk)
An OMI will doing this as the POG is hitting highs - so any poor execution by management (of mining the ore) can be softened by the massive margins from the price of gold. I should also comment on the low AISC due to high grades…
To me this is about as low risk as you can get.
There’s no comparison between this and SXX (which my dad and many others lost money on)