What's the story (morning glory)?10 Mar 2026 13:41
Took a small position in OMI in Q4 '25 based upon the high grade finds at Pepas. My basic thinking was 'how would these finds have impacted the market cap of a medium-sized gold producer in an equivalent jurisdiction?' $100m+ uplift perhaps? An OMI market cap of around $100m seemed like a good bet based upon these finds alone (before one even considers APTA, El Cedro, El Pantano etc).
A secondary consideration was OMI's ability to raise C$20m with ease in October '25. Not bad for a small explorer. Seems there is/was some true faith from the market. Bodes well for when OMI has to pass the cap around once again.
A few questions for the more knowledgeable OMI shareholders/followers (apologies in advance for my relative ignorance). Why the significant negative reaction to the recent MRE (February '26)? Admittedly it didn't shoot the lights out (as the bankers might say) but it seemed like a good start to the journey.
And what is the timeline on Pepas from now onwards? Has management said anything about the economic study & permitting stage? How long will this take and has a capex budget been shared in any shape or form? Will Pepas be moved towards production, and if so when and at what cost? Would be great to have some numbers here, even if 'back of cigarette packet' estimates.
I'm interested in the logic behind why: (1) this share is a 2-3x 'bagger' in the coming weeks or (2) why this share is a complete dog that will be £0.11 in a few days' time. Both views are held by various contributors to this forum. Is this gut feeling, guesswork, the results of deep analysis or a wonderful combination of all the above?
In particular what makes APTA, El Cedro & El Pantano any more than lottery tickets as of March 10, 2026? The results could be amazing. The results could be terrible.
Have any of you been out to Colombia to meet management (or maybe met them offsite)? What were your impressions? Have they delivered for shareholders in the past? Are they heavily invested in OMI?
Considering turning my small investment into a less small investment in the nearest future. Thanks in advance for any thoughts.
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