Member Info for karl345345

There won’t be any further fund raisings imo. Brad:

This oversubscribed placement strengthens our balance sheet and will allow us to sustain our position with respect to the Anzá JV for some considerable time as the current drilling program ramps up and continues into 2021."

“Sustain our position” means until 2022 when $500k quarterly payments from Newmont resume.

This was my one slight concern. No income between sept 2020 and sept 2022. That’s now resolved. It can start it’s
re-rate now based on drill news.

Investor, in the agreement from sept 2018.

Agreed bhargav, today’s negativity will be soon forgotten. Still a very low number of shares in issue compared to some miners.
Their yearly overhead costs are probably around $1.5m. They’re easily covered now until sept 2022. Maybe a question for brad at the agm.

Investor, that’s what I just said. The last quarterly payment was received in sept 2020. They resume again in 2022

803, please read the agreement. Yes, omi are funded for all the drilling ...etc but not their overhead costs!

You need to read the agreement from sept 2018. Orosur received four $500k quarterly cash payments from Newmont, the last one in September 2020. Orosur used this money for their own general costs (Newmont aren’t going to pay brad’s salary lol)

Good news is that they have enough money now until sept 2022 when the quarterly payments kick in again.

Orosur is fully funded on the project, no doubt. But they still need money for general overhead costs ($1-2m a year?)

The $500k quarterly payments had now stopped so they had to cover themselves until sept 2022 when the quarterly payments resume with phase two of the agreement.

They won’t need any more raises imo.

Just to add, I don’t see it as a massive negative. Only 200m shares in issue. Future is assured and they won’t need to raise any more money for years.

Let’s not kid ourselves. Omi won’t be buying any other projects with just £4 million. Rather, this money will be used for corporate overhead costs. Remember there are no new cash payments from Newmont until sept 2022 when phase 2 of the agreement kicks in.

Just noticed its ticked up a bit

Wait until 4pm easy. If it starts rising into the close that is a good sign.

Best time to buy is when there is blood on the streets (according to warren buffet!)

Got to ask yourself this. Has the outlook changed for this company in the last few weeks? The answer is no imo.

Getting the feeling the lovely MM's will be happy to run this up over the next few weeks. I've noticed a few times over the years with Orosur that when you get a tight spread after a long pull back coupled with a consolidation near an important low (50% pull back from the high), that normally indicates a turn around imo.

Currently a very tight spread, 23.5p-23.6p. This could be the bottom. Adding.

Gold and miners are starting the next leg up. Note the 10% 4 day advances in gdx, gdxj, nmt, barrick....etc followed by a one day correction yesterday.

Juniors will follow shortly imo. Was hoping to add a few omi sub 30p but paid full whack today.

If you're a long term investor, just buy the dips. Thats the best strategy I think.

4by2, for investment purposes, I tend to look at the weekly/monthly charts and they clearly point to £1 imho. Thats how I am playing OMI.

For shorter term trading the daily charts are better. The close on the 19th of October was 39p. A consecutive three day close above that level would indicate we're heading for 50-60p. But we could see the continuation of an ABC type of correction from that level but frankly, I'm more focused on the longer term now.

No fannying about from here on in !

Been looking at the OMI chart this morning and since we bust through 20-30p range the next major target I see is the decade long high at £1 from 2011. Their is some minor resistance in the 50-60p range but £1 is the target.

We've already at new 6 year highs. To triple from here on good drill results is no biggie. Also, I'm expecting gold to hit $2,500 by Q1 next year so that might give gold stocks a tail wind.

Looks like the MM's want an orderly rise, little increments day by day. Probably for the best rather than a fast and furious up and down.

Yes development funding is sorted. OMI will only have to cover their corporate costs. What is that per year? $1 million? Brad recently said their costs are down 40% so maybe their run rate is $0.6m per year. Easily manageable without dilution.

Remember folks, another $2 million cash payment is due when phase two kicks in which could be well before September 2022 if NMT/AEI want to fast track the project.