The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
It’s the fact they have come out talking about getting 100% back.
You cant honestly be expecting the majors to walk away from the all of the equity and all that of the cash they’ve sunk in?
I would rather have seen something like them keeping an non controlling equity stake for their troubles. Would have been a softer landing I feel
Break totally agree with your comments and sentiments. It’s why I never thought the 2 million was good will at the time.
It was obviously a tactical move so they removed the walking away with nothing factor.
What’s the Omi done for Omi anyway?
Sweet FA in terms of value
Hi Chicken,
The difficulty for me is
“How can they get a bigger equity stake without paying for it”
Are you expecting the majors to roll over and give back equity % and let Omi keep the 2 million they paid? Seems illogical to me
Hi Chicken,
How do you envisage they get it back?
After reading your post I do see your point but how do you a imagine a resolution will look?
Interested in all opinions on this, hoping to get some positive scenario examples
My remaining hope is that Omi have another partner waiting on sidelines to join in and bring cash and that Is causing the complexity.
If the bod at Omi are intending to do it all alone with funding from the market then that’s a big concern for SP imo.
Drilling at Anza alone will be millions, then there’s the additional cost of buying it back, then there’s the 3 other JV’s (in Nigeria he’s looking at future licenses.
Oh top of that there’s the snails pace at which EVERYTHING happens at Omi and the chunky bod salaries and day to day cash burn.
Without another partner on standby how does he fund all of the above without crushing the SP?
Hi Seingred,
Good luck with your strat.
I wad only willing to buy at 2.2 so I can try and get stake out sooner.
Just the same old waiting around sh@t here and then soon as the positive news comes out comes the collection plate.
The equity won’t even have time to stretch its legs but bod won’t be affected.
The real numbers for us all to consider after he fires the long awaited news into an anti-climax:
1 what price are you diluting Anza at
2 what price are you fixing your options at
The rest might be fancy window dressing but that’s all
Sorry to the more positive souls. He just really fxxxed this with the dilutive headache he now has and the cash burn that’s generated zero value this year.
He will be forced to pay up and he will be passing the costs straight on to his holders.
The lower the price the more attractive his self awarded option package,
Once I’m out I will start pleading the 5th but until then I’ll say it how I see it irrespective of my rapidly improving position here
When Brad the gimp says
“Maybe the market will finally give us some credit”
Can a single poster here tell me what else he should get credit for already?
It’s like he’s implying he’s hard done by, by the market.
F@cking clown just can’t stand him and what he represents at OMI
Why don’t you actually do something worthy of credit that’s not 6 months overdue and lost its potency?
Why don’t you do that to justify your whopping salary AND payrise you gimp?
Why don’t you stop hiding at AGM’s in places far out of reach from the majority of your shareholders you gimp?
Sorry guys rant over but some of you know where I’m coming from
A bit mental chicken imho.
Anything less than what they sold us basically an undershoot.
Depending on one’s own philosophy it may be forgivable/forgettable but I can see how they come out of this with back pats.
Then there’s the small matter of cancellation of the old options (13.5) and replacing them with X3 more options at any effin price they like.
Fair enough if people want to focus on the assets. They might show you a huge return but the primary assets were part of Omi before Brad ever was.
Pats on the back, no way. I’ll be sold out so I won’t have to care anymore (I hope)
nail on head zapsnsap.
150k per annum (now 180k). without bad debts or an addiction it puts you in the worlds wealthiest category. all the poor geo bolx he tried spouting.
he knew that we had issues but chose to keep dangling the jv carrot which he knew was fake until he was absolutely forced to come clean. and even then it was vague lame **** excuses…
come on market show me 6.5 so i can start pulling my money out from under this ahole.
my money is holding a grudge after being falsely imprisoned
Time to start buying back a few next week.
The irony of it all.
Newlands thought he was important enough to actually have an opinion on this type of money he wanted.
Now this is simply attracting traders/gamblers due to volatility and putting off “investors” due to the fundamental elephant in the room.
Everyone has different valuation techniques and preference but for me personally this is worth starting to buy these again at 7.5.
My rational;
-return to 10p which I believe will happen 33%
-current McAp values Solg assets at less than the cash raised and spent developing assets
-assets must be of importance due to the calibre/size of partners with skin in game
-happy to add equal chunks on any further 1p declines
-sentiment is awful. Ecuador can’t get much worse that national stage of emergency which is well known and “in the price” imo
Good luck all, impossible to call bottoms but 220 mcap attractive as starting point to me
Once you have seen certain behaviours from Bod you can’t un see them.
Unless they surprise the market with a resolution that doesn’t give too much away in comparison to the original JV many holders will continue to feel misled by an imaginary JV carrot..
Bhargav, totally agree that the CEO and chairman are far and away the most irritating factors.
No rush Bod, what’s another couple of months delays on top of the 15 months already?
Omi holders no choice but to watch bod fill their snouts as they slowly and painfully drag events out over as long a period as they can get away with,
Every month”s another 15k in a poor geo’s pocket