Member Info for Investor81

Gazala its probably because of bug rise yesterday and now retracing. Great company but market cap of 78m with turnover currently of 2.4m.

Good news today but with anticipated filing in 2024 and turnover only 2.4m people are selling. Maybe they bought on rumour and now selling off.

It does seem odd but most are using instruments. Probably happy to make a quick guaranteed return.

Another example:

https://www.lse.co.uk/rns/VEL/tr-1-ezs869lz987q1vf.html

I don't think it means anything. Looks like they are just moving the shares in to their name following buyout of cavendish. See below.

https://www.stonehagefleming.com/media/stonehage-fleming-acquires-investment-management-activities-of-cavendish-asset-management

https://www.insidermedia.com/news/midlands/major-stake-transferred-as-investment-firm-buys-counterpart

https://www.lse.co.uk/rns/TLY/holdings-in-company-a13ahgdwkjb3lll.html

https://www.lse.co.uk/rns/TLY/holdings-in-company-s2p8puxpg4gy9x5.html

Risk v reward is very high here. The project has great potential and there will be interest from other partners if Newont don't pull their finger out imo, especially with the rising gold prices.

See below two articles which shows activity in the area.

https://investingnews.com/news/gold-investing/fenixoro-reports-significant-results-from-soil-sampling-program-including-41-gt-gold-at-abriaqui-project/

https://dialogochino.net/en/extractive-industries/36226-zijin-wants-to-be-the-first-chinese-mining-company-in-colombia/

Interest article:

https://m.engineeringnews.co.za/article/south-africa-must-find-niche-in-tectonic-shift-towards-greener-industries-2020-07-24/rep_id:4433

See link for full article. Some extracts included below:

Trade, Industry and Competition Minister Ebrahim Patel reports that the department is canvassing the ideas of talented people inside and outside his department on a just transition to a greener economy, arguing that the “tectonic shifts” towards greener industries will provide new opportunities for enterprise development and job creation.

“...as can be investing more on battery-storage technologies and components used in renewable energy. This provides an opportunity for the beneficiation of key mineral resources like vanadium.”

Page 27 of Newmont's latest presentation clearly lists Anza/Orosur.

Its good to to take profits on the way up as GH has proven.

He has done it again. Nice bit of profit taking. Sold high generating £0.5m but only reinvesting £0.1m. Not bad. Question is why not reinvest the whole amount back in and exercise remaining shares?

Thanks.

In summary, $0.5m due September.

Potential further payment due in November to cover any shortfall in spend for current year.

Ramp up in annual spend to $4m per year from September.

This has potential for significant increase in next 1-2 years.

Found the reference - see June 2020 presentation.

Strategic Alliance with Newmont
Significant change of pace from September 2020

• Newmont have invested approx. US$5 million in OMI and the Project so far with a further US$0.5 million receivable in September 2020.
• Significant change of pace: From September 2020, Newmont are contracted to spend minimum US$4 million/ Year in the ground (compared to US$1 million / year in last 2 years)

Am I correct that from September Newmont need to increase spend to $2m per annum and there is a payment of $0.5m due in September to OMI?

Gold price rising but OMI stuck at these levels which is disappointing. This is whilst other explorers have risen and they don't have a partner or as exciting a project as OMI.

Looks promising. Placing and initial payment from Eton leaves a good cash balance.

Company also received 379,474 shares in Eton which have increased in value by $700,000. Further milestones to follow with $2.5m expected in q4. Company will also receive a tiered royalty on sales ranging from low double-digits to high teens and is also due tiered sales-based milestone payments of up to $45 million in aggregate subject to annual sales thresholds.

Company will continue to seek a partner for the US development and commercialisation of Chronocort. Upfront and ongoing milestones here too?

Can any long term holders add anything further I have missed?

Good luck all.

Sorry meant to say which has not been modified.

It appears that cash is a concern as highlighted in the audit report which has been modified due to material uncertainties.

However, all depends on when milestones, etc are achieved.

It will have been a better update if we got paid for the work we did with the chinese!

This has been a nightmare year. Let's hope new team delivers!

Audit report also highlights inherent material uncertainties.

'Material uncertainty relating to going concern

 

In forming our opinion on the financial statements, which is not modified, we have considered the adequacy of the disclosures made in note 2 of the financial statements concerning the Group's ability to continue as a going concern. The disclosures indicate that there are inherent material uncertainties relating to when milestones in research will be achieved and the likely outcome of trials which will give a right to revenue and cash receipts, the successful signing of out-licensing agreements and the timing of ensuing cash receipts and finally the possibility of a successful fundraise via the placing of equity shares.  These circumstances indicate the existence of a material uncertainty which may cast significant doubt on the Group's ability to continue as a going concern. The financial statements do not include any adjustments that would result if the company or Group was unable to continue as a going concern.'