Member Info for Jackbal

Groundhog Day but with cash burn

Karl - yes.

Bought in the 11’s, doubled up in the 2’s.

Looking to exit 6-7, not willing to just ramp a situation because it suits my agenda.

So before any one dimensional thinkers say just sell up, I will sell up first chance I get at a price I can accept.

I’ll just shut up in meantime for sake of those that are sincerely invested.

Apols for the negativity which is also sincere

Can you hear the ducks quacking Brad?

Thought you were going to feed them

Have to wonder how potential JV partners would view the ridiculous numbers of shares held by Ceo and chairman

Perplexing and vexatious

Our problems are not shared by the CEO

-who gets to award himself payrise and reset options irrespective of performance/value

-gets 15k per month regardless

-has less than one months salary invested and his own co.

-still gets to indulge his dirt kicking fantasies with other peoples money.

The market certainly does expect more, a lot more in fact and rightfully so.

There seems to be a race here between

Value put back in Vs cash runway…

That’s how it looks to me anyway.

I’m not saying the assets won’t carry value but how many shares will that value have to be reflected against?

He needs to get a wiggle on to get some momentum in the SP and hopefully dilute higher…

Only my opinion of course

Imo patience is a virtue if you are Warren Buffet and investing in companies throwing off cash flow, dividends and compounding interest.

For a zero revenue explorer who rely on dilution to fund expansion it’s a contact race against the clock

The million cash within 30 days will have some impact imo. Not a huge impact and it might take until it’s banked to reflect in SP.

Personally Don’t think the million is priced in yet and punters will buy ahead of that event.

I’m going to start buying some today. It’s basically option money.

Less than .085 downside / big potential upside.

Think it will move up today but won’t be concerned if it doesn’t as will he focussing on the million cash coming in.

Good luck anyone betting on holding fir upside

Or the market just isn’t convinced he can get it finalised quickly enough to avoid an almost immediate cash call afterwards which would put another brake on the SP?

Or just market sentiment towards risk has been off for a while?

Today markets called up due to Chinese data. Perhaps turn blue today Chicken?

If it doesn’t perk up a bit soon my theory is the market doesn’t trust the time frames or more aptly lack of time frame…

If AGL is forced to raise at derisory prices next time round then you EC are just as responsible for misleading post on this forum (I guess if it comes to confetti you will disappear) Your entitled to your opinions, don’t try and dismiss views of others just because you are positive on the equity and they are not.

I am also a buyer around here and mildly positive but fully aware failure to get commercial traction with parsortix in next few months really only leads to one outcome so I’m keeping some bullets in reserve. Very very risky to go all in on this with fundamental backdrop.

EC your ramping isn’t convincing imo, it seems you don’t understand that the market seems to be prioritising the balance sheet over the science and will continue to do so until it is “proven” that the balance sheet is no longer a concern.

If you criticise an equity and someone chooses not to buy then they may miss out on a profit but at least they still have cash with no risk

If you overly promote and help persuade people to buy them their cash could be increased or lost.

Therefore the over promoters surely carry more risk than the critics to fresh eyes.

Once or If?

Just makes you look a hypocrite when you start screen shooting and telling tales when you are also stating a possibility as fact.

I bought some of these Friday and SP looked like it was more active for first time in a while. Liked the fact a nimble PI can buy in cheaper than the guy who has bought half the bank!

Agree big time with others quotes about the value in retaining the mortgage book. Screw Barclays and their analysts downgrade.

If this SP is crazy enough to drop into 20’s I will 100% be buying more.

Good luck everyone else holding/buying for upside

Realise I’m a newbie here and almost shouldn’t be entitled to a vote based on when i started buying Vs Manica sale rns.

In fact I’m not even going to vote but I see it this way:

“If he is forced to spend on Manica and Zambia all at once (which he will be at some point) the dilution will be so horrendous it will offset much of any SP recovery. If you have 50% more shares in issue then a 50% rise in mcap won’t move SP dial.

It’s a pig of a deal for those that have been “invested” but the alternative is worse imho

Current mcap 8 mill

With no cash from Manica and a need for cash pdq how does he get the mcap up?

If he sells 30% of the co. at these levels he can only get around 2.5 cash. That won’t touch the sides and then it all gets spirally.

If your b/s can’t support your assets then the assets value can’t be reflected in the SP.

If you really regard yourself as a long term value investor (prob best to avoid these sort of stocks but that’s another convo) then maybe preventing sale of Manica is Best but if your just a punter using Penny stocks for volatility and just want to see 2p sooner rather than later I genuinely think a 15 million cash sale is the way to go.

Agree Rob but there’s about 6 months cash runway tops so although big companies move slowly (as ceo loves to remind us) OMI can’t afford to move slowly anymore

The OMI cap structure can’t afford the luxury of this dragging on for very much longer.

I agree with your previous post that around 6p a fundraising might not be disastrous for long termers but if I was a long termer I’d only want to see 50 million at that sort of valuation. 100 million at 6 would be too big a dilutive peg in the ground. Why not raise least you can get away with on such a poor mcap?

If he did 100 million then a mcap of 30 million is still only around 10p per share…

Think “the market” is fed up of extending benefit of doubt here.

Sp action was much more bullish before the last rns and webinar which I thought were positive but also told market that a quick resolution is unlikely (we will update the market about the process, implies milestones first).

2 cliches sum this up for me

Time is money

Put up or shut up.

Still feeling cautiously optimistic but can understand the lack of volume from us all. Once bitten twice shy, how many times have we been bitten with false guidance?

The optimist in me wants to believe they will resolve this soon and put value back in.

The cynic/realist in me is concerned the resolution will take too long to avoid imminent pressure on b/s.

The equity needs a little room to breathe, will be very disappointing if the balance sheet is running on fumes by the time they get this over the line. Fingers crossed still

Loss making Co’s can pay a “special” div, for example Nanoco has been loss making for years but is going to redistribute cash from litigation by way of special div.

Although I have to say I don’t think that will happen here. 15 million doesn’t go that far for drilling and surely better just not to dilute to explore?

Have to admit I didn’t buy this for copper exposure and I can understand why some of bailed on sale of Manica.

I just see upside on 9 million mcap with 15 million sale being arranged plus the licenses must carry some value even if you just say 2 million each.

It’s a shame the sale is spread until 2027 does make it harder to value. On the flip side though sentiment is dead on copper explorers right now (Pxc, Solg, Ars to name a few others on their ass) so maybe better that there are future catalysts in what I can only hope will be more positive copper environment.

And even though I didn’t really want a pure copper play I like Friedlanders comments on this belt.

Good luck all, still can’t call the bottom but it wouldn’t surprise me if we are extremely close or already arrived

A good weekend to everyone.

Same to you Chicken.

At last we have something to work with! A coherent narrative goes a long long way.

Don’t think 3’s will be on offer for long

Thought yday news would have done more for SP. In fact I think it’s worth more to the SP.

If it wants to play silly buggers and drop from here I’ll increase position.

Gla, especially those that have been underwater for far too long and suffering bod BS, I know how that feels.