Member Info for Jackbal

Hi Kutzz,
Cheers hope you are well.
A few months ago I decided to try and stop criticising bod but look at last 8 rns (not incl. price monitoring) mostly just pointless waffle

It’s just a total joke of an investment case that had zero credibility without a non-dilutive legacy event. Far too early stage and far too many shares to begin with. ONLY MADE SENSE TO HAVE THAT CAP STRUCTURE IF THEY COULD RAISE FROM WITHIN to prevent billions more shares being issued.

Trust me they know, plenty of holders have bought dilutive concerns to their attention over last year and a half.

All PI’s are is fodder in the crossfire, a means to an end. They will keep diluting their holders down and down until as they have proven themselves totally incapable of raising funds without confetti..

The managem deal doesn’t conclude till Q3
The Eia on the project they want to sell NSR on not even announced yet
The tax credits don’t afford drills

Look at the volumes on the trading days around the last placing: most of the placing was getting flipped.

If they let the flippers out they can go again.

I believe the reason they switched brokers is because they know they probably need at least a few more rounds confetti and the old brokers were getting tired of the ridiculous investment case as prob was their client base…

What I can’t decide on (and I guess it doest matter either way) is whether they knew they would need all these placings but just gave impression they would cash in legacy (which is entirely and intentionally misleading) or were just overly optimistic or incompetent or both.

Would you let somebody take a gamble on your behalf that had zero chance? Of course not…

All I do know is that when we have been diluted to dust they will be still putting out cringey podcasts that never address the issues, paying themselves royally and re adjusting their options to the new reality

Come on then Tim and Bob you total chancers, prove me wrong just one time…

Bet you won’t though bet you go for more confetti below the .24 warrant price. Another 15-30% of equity sliced off alongside the last 20% and for what?

Just so they can kick the can, keep their cushty jobs and generally survive by totally disregarding the holders that funded them early on.

Poor old overworked Bod. Brad only 180k per annum and taking about a million quids worth of options annually.
Guess we shouldn’t be too hard on him

Anyone remember this from January 22?!!

The JV will require the establishment of two new corporate entities to hold the exploration licences and applications, which will include a top holding company in Canada, and a local operating company in Brazil. This process will commence immediately but may take several months to complete, at which time the granted licences will begin to be transferred across to the new structure and the JV can formally commence.

So are to assume that either 1 year plus 1 month is “several months” or are we to assume they just haven’t bothered to confirm the JV has formally commenced ?

Either way not great, and then there’s the fact that plenty of holders would have preferred not to intro other projects anyway….

They can’t blame this on Agnico can they!

Thanks BT that’s a fair point you make re risks being minuscule on 2 mill for them even if they don’t get exactly what they want but does seem a little at odds with the suspension of drilling activities.
If they felt this way why all the drama when company lost almost half its value in a single session?
Maybe good faith will prevail, would be nice. I’d be pleasantly surprised

Hi Imp and Bhargav,
Hope 23 starting well for you both away from OMI..

Thanks Bhar for your view on this. I’m starting to think “soon” was chosen to mean a few months as it makes no sense to me to pay for an agreement without knowing exactly what you are buying?

If the deal is going ahead as originally planned with a delay then clarify it. In absence of clarity market will assume worst and price accordingly as it currently is.

The only reason they won’t clarify is because they Can’t imo and the explains the weak guidance on “soon”

We will see but I now stay on a negative tilt with this expecting disappointment. Anything less a bonus and mcap cheap but maybe not bottomed yet.

The early stage explo rns (soil sampling, rock chips etc) v rarely create much value in SP as market simply sees a precursor for a drilling bill/dilution…

Dr couldn’t agree more with
“ For me Agnico can bail and let Brad and the Orosur team lead the Exploration as they did before Agnico decided to take over,

At current McAp if Anza remains 100% Omi owned plus a little cash (enough not to panic) the downside is already largely in the price already.

One thing I really don’t understand and would welcome views on is:
“How can 2 million be paid (soon) before the mma JV terms are finalised? (over next few months)

I know 2 mill is peanuts to majors but why would they settle the money before terms fully agreed?

Just don’t get it.

Never underestimate the gravity of Orr finances or the bod’s ability to disappoint as a result…
All totally self inflicted too.
Tim seems to think that many futile rns along with much grinning will eventually pay off, maybe it will.

I’m more of the opinion that a long overdue and in 2.7 billion respects too late liquidity event is the only hope for present holders to retain a little possible end game.

It was pretty much game over at the .12 flipfest but another miss on legacy assets by bod and next confetti a coffin nail.

20% of whole of Orr sold for 600k last time just to kick can for another 6-12 months.

Gold price is doing its bit to give this a chance, what are bod actually doing to break their own self induced cycle?

Clear as muck

How can they send 2 million without knowing the exact terms?
If terms not agreed does the 2 mill get returned?
It’s all as clear as much as usual

Hi Imp,

Fair point, well made.

Rns late last year said payment expected first half Jan.
It was the shape and form of the deal which was more in question imo.

I don’t feel we know if the deal is going ahead as originally planned or not.

Someone please correct me as I’d like to think little OMI stood firm and insisted on original terms.

If that’s the case then brilliant

Hi BT,

I’m a cynic overall where ceo is concerned.
Having read, read and re-read rns I really don’t feel much wiser on Omi than I did yesterday

So phase 2 was going ahead as planned and then it was suspended temporarily and now being told it’s going ahead again. What has changed if anything and why the delays? We know there was wrangling around phase 3 and the amount of exploration in each tenement but is this rns telling us phase 2 going ahead with no compromise?

The language leaves this open to interpretation and I doubt that’s accidental.

Something about words like “soon” in rns doesn’t read well. Soon: 2 days, 2 weeks, 2 months?

It’s not the language that makes punters want to pile in.

Although we know drilling “can” resume we don’t know when it “will”

Did Brad just stand up to majors on behalf of Omi holders or is there still a sting in the tail?

If BB’s were pubs Omi on lse would be my local..

The Bean arms

Hi sharetrader, to be honest I hadn’t e-mailed him, was just going on trusted comments of others

Chicken - thank you for clearing that up. Appreciated

Sian as I mentioned a year ago he was making it the Brad George Show and his own benevolent fund,
His strategy to take value from Colombia to fund “free hits” just didn’t make sense for short to medium term SP value and the jury has to remain out for long term. Then it transpired that in order to get himself a payrise of 30k his remit was to intro a JV.

To the private investor seeing the value of his stock falling it might look like his priorities are very wrong.

Maybe he will prove his worth with a stunning find in arg or Brazil but that isn’t something I’d bet on and I’m a pretty compulsive gambler!

Dr interesting comment about decisions not made at local level.
What type of decisions? Permitting?
The plot thickens beyond Brads narrative that these delays are phase 3 haggling and company formation issues:
What are the negotiations that went well with the locals about? Seems like another off putting layer of complexity to cynical me.

I prev said I’d buy high 5’s low 6’s but I haven’t added yet for honesty sake. Will still prob end up paying around these prices but just don’t feel the urge yet.

As others have alluded to can work with the price but if as Bhargav alludes to phase 3 is going to be drawn out over 4 years rather than the 2 year drill drill drill comments then the time is a different consideration to work with. The other projects will incur much more dilution against Colombia over 4 years rather than 2.

Still think there’s good value here but just watching it unfold in slow Mo.

Blessing and curse.
The thing that bothers me is that this feels totally divided by agenda
-Majors have their agenda to explore and buy Colombian assets as cheaply as possible

-PI’s then relying on the majors to declare as much value as possible so a conflict exists there

-bod seem keen to execute on a more dilutive, longer term strategy as Brad will make 1 million quid in wages alone if he kicks the can for 6 years and will award himself loads of cheap options every year too to the detriment of PI’s

Majors, PI’s and bod all have ships sailing at different angles.

Opportune for them to try and steal the assets with a cheeky bid but then maybe new govt making them uncomfortable.

Bit of a mess really when you think beyond the grades.

To be fair I haven’t e-mailed Brad for a while but believe certain credible posters who say he stopped responding weeks ago