Member Info for IsleworthSpy

This is all back to front, but this is what i asked.

1 - Did MMA enter into phase 2 of the joint agreement?

2 - If phase 2 was not entered into, why are we having discussions with MMA regarding Anza?

Surely, they are at default and have no claim on Anza?

3 - Why can't Orosur start drilling while discussions are on-going?

4 - Is there still a team in place ready to commence work when discussions are over?

And following on from this.

He understands why there is so much vitriol. He says that this is just venting "based upon ignorance".

He also says that most of my questions are moot, or soon will be.

He also says that he has tried to clarify the situation to similar requests, but it doesn't seem to stick.

MMA met all requirements from phase 1 which earned them 51% and OMI 49 % of Anza.

Phase 2 needed the $2M for it to proceed. Funds were received, but as MMA decided not to further their interest, OMI kept this money and phase 2 was never entered into.

As part of the original JV agreement, if phase 2 was not entered into, then majority ownership would be transferred. 51% OMI / 49% MMA. A new agreement needs to drawn up to reflect this, and this is where we are at the moment. After this OMI can take control and cost control sits with them. If MMA want to further their interest, then they will be allowed to do so, assuming they stump up the funds in accordance with their holding.. But they don't, and all parties agree that OMI reassuming 100% control is the best way forward.

The reason that there is no drilling at the moment is because these agreements have not been reached, and MMA still have full operatorship.

There is still a small team in Columbia, but should drilling start at anytime, there are contractors available at short notice, because of the lack of work there at the moment.

I hope that this all makes sense.

@ Bhargav. Your post at 13.45

""""""Micky- I understand your angle, but it doesn't work here, and it will never work with Brad. Feel free to try.

And he does use some muppet as a champion for sure. Instead of conning 50 individual people, he would rather apply the practice on one who transpires the info to other 49.

Again, I don't see any evidence of muppets adding any volume up here, let alone significant. That says it all.

Salary is secured until the next spin."""""

Your posting English has improved very quickly. Well done.

Although some here may think that you've posted under another guise. I prefer the old Bhargav, that i couldn't understand. LOL.

@ Karl345345.

Anyone who invests in AIM listed companies needs to look at the huge pitfalls.

I have made what some would call a fortune, and lost it all, and more on top. If i had my time over again, it would be safe stocks, as i advised my Son to do.

I'm too old now for safety, and i cannot retire. So OMI is probably my last throw of my retirement dice.

@ karl345345

I did raise "the ancillary agreements" statement some weeks ago. Because of the positive nature (IMO) of this statement, it sort of fell on deaf ears.

So, could any poster here provide a negative spin on this? Other than Brad is lying.

@ breaktwister, Seingred

"we do not know what Brad (or Louis) may have signed to get his mits on $2m". I have a very strong suspicion that they waived the 90 term for some reason, """"

Are either of you suggesting that something that should have been RNS'd, wasn't?

Are you both suggesting that something that would be price sensitive wasn't released to the markets?

Isn't this against market rules?

And if this did take place, and any share transaction undertaken with this knowledge, would this not be considered as insider trading? Be it the people involved, or others?

@ Johnstoneo.

And like Bhargav, you still hold.

How many shares do you actually hold? I cannot remember what you said last time.

"""R u still giving money to the charity ??"""

Your words, not mine.

@ Seingred.

Thank you for informing us all again that you sold at 8p. For the 25th time.

And as for funding drilling: 205 million shares in issue. Unlike the billions some AIM listed companies have. Please don't tell me that there is no room for funding. An open offer to shareholders may provide the funds needed. Although this would take more time than going through the normal dilution process. Which would obviously have warrants attached. I actually think that with the recent drop in price, that this is where we are at the moment.

@ MaisieMoo.

Another useful bit of info.

Another dent in the scaremongering that seems to plague this board. A bit like the rainy season. And the constant talk of dilution, which is a given.

@ Johnstoneo

"""They are running the company into the ground and carrying on until the lights have gone out"""

How odd that you still hold, then.

You've been saying this since March? 2.3p low price in March. 5.3p high price in April. You could have sold at any point.

And please don't tell it it's not worth it, as you are so far under.

As you have said "until the lights have gone out". Surely something is better than nothing?

How many shares do you actually hold? I cannot remember.

All this talk about dilution. OMI is an AIM listed company with no income. Anybody who invested here and hoped for no dilution, is clearly deluded. And as for raising at this low price, what should be the standard bearer for no income companies?

Let's not forget that BG raised at 17p, with attached warrants at 25p. He was slaughtered on this board, for that. It now turns out to be correct.

OMI will dilute, end of story. If you believe in the company, you will hold, average down.

I cannot believe the critics who continually call a lower price, but don't sell or trade. We have one who holds millions but has said he's trading. His last buy is already down by over 10%. Continually talking the company down, but buying at elevated levels. How odd!

And for the avoidance of doubt:

The rainy season in Columbia lasts from April until November. The worst months historically are October and November.

BG did mention this some time ago. So, don't believe everything that you read here, fom someone who is a confirmed trader. By their own admission. So the next raise does not coincide with the rainy season, as we are already in it. I have no idea how limited work could be, but I wonder if things are being prepared for December. After the rainy season ends.

One part of todays RNS caught my eye.

"""""and the negotiation of ancillary agreements that form the basis of the transaction""""

This could be very interesting. What assistance could MMA be providing?

@ Rob1967.

If OMI hold 100% of Anza, why are they negotiating to re-acquire 100% of Anza?

More concerning for me is the fact that no company was formed for phase 2. MMA were liable for up to 20 million dollars of funding, within a four year period, after the formation of this company. I cannot find anything to suggest this company has been formed. So, that 4 year period no longer exists, IMO.

Does this mean that MMA, as the majority shareholder, 51%, get to do as they please?

Is this why BG is being so complicit (i could use stronger words) with negotiations?

I did post back in Feb/March that this would take a year. And i'm slowly averaging down in the meantime.

Is it frustrating? Not really.

I think some here are dreaming about what happened in the past.

If i haven't made a profit within 5 years, then i'll write this one off.

@ Johnstoneo.

I don't think Brad cares about anything other than the geology. He is clearly passionate about this project. Unfortunately, some will make money, but the majority will lose. It's all about when you enter.

At the moment you and i, are both down. But i don't keep on whinging like a little girl. Everyone here knows what your average is, but how many shares do you actually hold?

@ IslandGirl.

I'm certainly not disagreeing with your peanuts post.

But as i posted """"If it didn't "matter" to them, why the protracted discussions regarding handing over the reins, and the subsequent payback on meeting certain milestones, regarding production.""""

Why do you think that Newmont wouldn't just pull out completely, if it meant so little to them?

Let's not forget that Newmont are significant shareholders in OMI.

It is not in their interest if OMI fails. If it didn't "matter" to them, why the protracted discussions regarding handing over the reins, and the subsequent payback on meeting certain milestones, regarding production.

I'm hoping that Newmont come up with a loan to help OMI to fund drilling. Pie in the sky maybe, but why not?

It would appear that somebody else has done their dough here. The bitterness shows through. Some investors just cannot handle losing their money. I reckon he had a buy in price at 5p, hence the barrage of negative posts.

I better sell my millions of shares because RHT and Amtech say the company is going bust. Do either of these posters have inside knowledge?

I haven't seen this before, so i thought i'd post it.

https://www.youtube.com/watch?v=rGT-XfbYzHs

@ Johnstoneo.

If you can sell your shares then you are "not stuck here". You may be under, as are many, so take your medicine and p*ss off to another AIM company. All you do is moan.

Unless of course you expect the company to come good. In which case, why moan?

@ Breaktwister.

I'm certain 100% will be attained. Why wouldn't it?

If someone with much deeper pockets than OMI want to partner, that would be manna from heaven. On the down side, MMA no longer wanted to further Colombia. What's to say the same may not happen again?

I think i would take dilution now, to further prove up Apta/Anza/Pepas, etc, and then get the begging bowl out when results are known.