RE: RE: On the move - about time!6 May 2020 10:46
I've been watching this share for 2 years and have been in and out of positions throughout - there's rarely a good reason for any direction it takes apart from when the Newmont news dropped.
However, it is worth mentioning this, Newmonts net income rose to $822m in the three months to March 31, from $87m in the same period last year. Then you have to take into account the hefty costs of its latest acquisition. I would imagine once the dust has settled from that, it would be in their best interests to get the ball rolling with OMI. After all, a gold mine only has so much gold in the ground and some forward thinking and planning needs to get underway in order to secure future revenues whilst the price of gold is hitting its current highs.
IMO at the current price its a good buy for a decent long term punt and has the potential to return many multiples of your initial investment.