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The whole bod Eileen included were on very shaky grounds when you consider the billions of shares issued to raise around 5 mill gbp

How much of the 5 million was actually spent on value enhancing exploration? Approx 1 million?

I honestly think it was to appease certain very agitated holder that she put cash back in.

That and the fact they expected to sell 10% of CLP which would have boosted SP and allow them to start raising at higher prices.

She prob expected the Canadian million to arrive before top co. coffers ran so low.

Let’s face it she’s been paid handsomely for very little input/value.

Another consideration of mine is that nobody will invest at project level if it looks like top co about to become the insolvent.

Maybe the top co had to be funded first?

Honestly I don’t think the Canadians will pay 1 million for just a 10% slice when the value of the top co. Is so low.

Very convenient for Bob that it appeared they had a handle on dilution when he was voted back on as CFO then once he was secure he turned dilution tap back on full blast..

Catbert it’s less about the intentions of the bod and more about the number of shares in issue it will take.

Their intentions constantly clash with t reality.

It doesn’t matter what you have in situ if you can’t commercialise it economically and Bob is a cfo that struggles to garner an ounce of credibility .

Optionality? Possibly or probably

Incompetence? Most definitely

Companies run into difficulties all the time and sometimes its s@it or bust. They were in last resort survival mode after placing was pulled so did what it took to survive. I can’t blame them for that but they shouldn’t have gotten into the situation in the first place.

Problem here and always has been is the dilute at all costs strategy was only ever going to end one way. They knew this and it was discussed frequently on this thread years ago, repetitively to the point of “doom loop”

You can’t raise 5 million, spend approx 4 million or 80% of that on non value enhancing activity (wages, rent, admin, early stage soil sampling, rock chips etc) and expect the SP to show value….

(Yeah blame it on traders!!!)

To then go on to value the whole biz around 5/6 mill (the value of the cash raised) and then piece off another quarter of the business just to pay for more of same non value enhancing activities is just taking the p@ss.

Eileen prob put back in 200k out of embarrasment.

Said before Bob had to go and that he was not fit for a cfo role with the public’s money invested. Not sure if he is excellent at acting simple or is just genuinely a simple soul doing what Tim tells him.

It’s all a big gravy train charade.

Bod were warned this was where they were heading, they carried on safe in the notion they can always re-set their options and raise more money.

The senala free carry was a genuinely strong catalyst (4 mill of drills vs 5 mill mcap) but now it will be used as volume to sell into.

Well done Tim n Bob you total amateurs, should NEVER have been allowed to do what you have done here which is just basically dilute heavily in return for ZERO value.

Unabated success, bonanza grades. Oh ok…

Brad likes to remind how this is out of his control.

What I’d like to know is when was control lost and why was it lost?

Pretty sure the answer is the 2 million payment but we shouldn’t have to guess

*Fee sucking (few sucking)

*parasites (directors)

Hi Break,

I’d also put my small no of shares behind any activism and be willing to pay a disproportionate amount of cost. It would be money well spent to see these clowns get a reality check and get their hands out of the cookie jar.

I just don’t have the necessary time or expertise to lead something as complex and i frankly think it’s way too late in the day ob this one. We should have acted last year when I was in contact with nomad about voting irregularity. Plus I always struggle to keep my two little business cashflow positive while I’m away in the summer so I literally should “mind my own business” first and foremost.

I posted the Moulton Harrox platform info because it shows that where there is a will there is a way. Kenj makes a good point about the complication involved in PI organisation and activism. Hargrave is ex private equity and will understand the crevices of corporate legalities much more than myself.

This is why I am SO refreshed by this approach by Mr Hargrave. It gives every one of these few sucking lifestyle directors something to consider.

The more you consider the current situation and it’s knock on or side effects the more problematic the SP’s ability to generate value becomes.

It held up relatively well when the markets perception was that a JV with majors and timeframes existed.

Sadly and inexplicably we were all wrong about time frames.

I don’t actually feel stupid on this one because we were advised of time frames on the basis they did exist.

If we knew there were no timeframes I don’t a single holder here would have put their money in.

So we’re the timeframes lies or did OMI bod

have insufficient understanding of this critical legal document?

Either way very unsatisfactory for holders. (possible dereliction of duty) and certainly not appropriate to have awarded himself a 20% payrise.

The pre payrise 150k and million quid of annual options really was more than enough.

Disgusted with this company much more than any other.

They have absolutely foooooooooooooked

this one.

Even with a resolution it won’t look as we hoped and the early stage JVs are bolted on now

Even if some sort of resolution is agreed it won’t change the fact that the OMI bod have been spotted as liars/chancers with no skin in game.

If they come back and say Omi will be the operator again with Agnico’s money which I will have to see to believe then the next consideration is when will they be drilling? and will they need more money for other stuff before drilling?

Bod can’t win from here, they come out looking ridiculous any which way.

As others allude to its the time lost and the cash burned in that time in return for zero value. That damage is done and cap structure will really suffer as a result.

I’m thinking very best case scenario price of 6p for the eventual and inevitable.

And still we remain in the dark

Brad gets a hard time here (rightly so imo) but I actually think Castro is probably more responsible for this breakdown. Seems he had no idea of the reality or grasp of the situation unfolding.

“ "We are delighted to have reached this key stage in the Exploration Agreement. Together with our partners we are starting to prepare for Phase 2 of the Project, and we look forward to accelerated exploration activities during this period"

I will say that Brad has at least bought some geological value (still overpaid and overperked imo) but WTF has Castro ever done?

Other than purchase counter productively small number of shares.

How much did he invest again on what was a 2,year low?

60k shares / 2.5-3k

That’s how excited and confident he is right now

I can only assume either they are either breathtakingly inept/naive or liars.

I lean towards the latter because I just don’t believe they can be as inept as the situation suggests.

All his comments made craftily in off the record video or disseminated via his less disguntled holders were just so far away from reality I can’t believe he’s that inept.

Even after Sep last year Louis saying how “delighted” he was and then they expect everyone to accept this non explanation at face value.

Unbelievable, they shouldn’t be running a listed co. and should not be allowed near public money if they are going to help themselves to it without shareholder approval.

A travesty and textbook example of why exploration companies are wide open for abuse and manipulation.

Cash down to near 3 million. What price will he he forced to dilute at to fund the “free hits”?

What a load of old bolx.

Pair of wage thief’s

Omi holders have been treated appallingly

No voting allowed either.

Daylight robbery from Bod here. I feel they knew this had JV complications (Brad alluded to that in last interview) but just carried on with the misleading guidance so they could focus on arg/Brazil which they simply need to slowly de-risk for 5 years during which period Brad earns about a million bucks in salary alone irrespective of SP performance.

No accountability and no credibility. This is just about how much salary and perks they can suck out of the company for as long as possible hence the extremely early stage JV’s.

Brad has your nose stopped growing yet? Do you still want to grow up to be a real CEO?

And there’s the sub 3 bid.

If the market is the jury then it’s not impressed with Brazil talk

Thanks Dr R. I hope your right, you make some interesting points there.

Do you think that there will be some punitive measures imposed on JV terms for Omi to get this type of resolution?

Agnico top 10 globally but they think it’s better to just pay their own funds for Brad to explore?

Dr R,

The possible resolution you suggest:

orusur leading exploration with Agnico funding it.

Why would Agnico agree to that? At the moment they have the option of funding exploration and making exploratory decisions.

Why would they give up the decision making and fund Brads decision making?

Did he really just do an interview to tell is that the significance of Brazil rns was that the results “might” prove significant?

Just had a post removed which is odd considering it was quite vanilla compared to other comments I’ve made

Break I’m honestly not sure but I believe the co. In the article is on AIM and 5% was enough there.

Could we club together approx 10 mill shares?

I’d be happy to throw my small holding in but willing to pay equal share of costs out of principle. It’s not the money that bothers me, it’s the way he’s treated his aim holders in light of his options/payrise. It’s just not ok is it?

I bet Omi would be a very interesting case study for Mr Hargrave and would be interesting to get his view on the fact that the majority (Uk aim holders) have no voting power

He’s just done an interview to tell us that the significance of Tuesday rns is that the data “might” prove significant.

FFS