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I think it's actually worth listening to the presentation again if you haven't done so - without all the "noise". Once you get past the fact that BG is not going to spin and hype like your average CEO (btw I wish he would do a bit of this at least), what they actually said left me feeling more than happy with the forward plan and their strategy. Problem is, our emotions are often guided by what they say, but the share price. It is difficult to feel happy about their Q2/Q3 plans when you see the share price retrace so much.

I've always said that for me, OMI has to be hold for the bull run in gold and at least throughout 2025, and that's what I will be sticking to, no matter what. I'm not going to trade the swings that will take place along the way, because that's not my 'fundamental thesis' for being in OMI in the first place, and is also not easy to get right in terms of catching the highs and the lows - as others are demonstrating.

I still believe that we will see past 20p in H2. Obviously that can only happen on results, but they would need to have a really bad run of results/outcomes to not hit 20p, namely, not hitting any more gold at Pepas, having a bad report from the consultants re its optionality, soil sampling suddenly becomes poor at El Cedro, and then going on to hit dusters at El Pantano. Not going to happen!

All it will take is for this bottom reversal in the share price to commence, and one positive RNS to get us moving back up. The next RNS should land this month, because the Pepas work will be done by then, according to the timescales BG has given. And so before we know it, we will all return to positivity apart from the resident trolls, who some of you can then continue to engage with in the doomed and vain attempt to reason with them. All imo and dyor

This was said during the webinar.

BTW one aspect that made little sense to me was BG talk about the costs of taking APTA to resource being a key consideration. He then said the cost was £60k and appears to think it’s a lot of money.

Left scratching my head at this given the company has £5 million or something in the coffers? £60k is nothing.

“We now have an institutional shareholder base who will support the share price.”

Well let’s see if they do. I’m sure they will.

Bit I missed initially was they are looking at whether to bring in a JV partner for El Cedro or go it alone. It's a very large porphyry system, but they expect a lot of interest in it due to its size and location - not far from Collective Mining - but want to see where OMI is before deciding how to advance the project.

Also missed BG say that the modelling work at Pepas will be done in "the next couple of days", they will think about the economics and then make a decision on whether to expand, move to resource definition or do both at the same time. He also said that the geochem at North Pepas will be back in "two weeks". So all systems go and not long to wait at all for the next RNS update on what's been decided.

I also was wondering about the third hole at North Pepas - they didn't talk about it, but the presentation had it marked as "in progress".

Hi Rob - listening to the presentation again, and yes, BG did say August/September for drilling at El Pantano. They have done all the prep work required, have the drill permits in place and are currently planning the drilling programme and defining targets. El Pantano is "surrounded by very very large gold projects".

Definitely a no to either custard or apple pies, but a big yes to bakewell tarts!

Having said that, the premise behind the initial question was sound. Any exploitation of PEPAS would easily fund future exploration elsewhere it seems, and given the projects that OMI has, that would be something special for the company.

It is worth repeating just how bullish the forward period is going to be over Q2/Q3, in that we have the following newsflow:

1) Drilling at PEPAS - with likely more high grade results as they are moving back to where the original 'deposit' sits.

2) A potentially headline grabbing report from the consultants on exploiting this 'deposit'.

3) Geochem analysis complete for PEPAS NORTH - with the prospect of more targetted drilling.

4) Ground team resumes soil sampling at El CEDRO.

5) Maiden drilling programme at El PANTANO - with Newmont watching closely. This will be a huge milestone moment for OMI and the one event that I am personally most excited about for H2.

With a buoyant gold price going into this newsflow and fully cashed up, how can it really get any better than this? The only thing missing is a JV announcement - but we are only in this fantastic position because we managed to exit the previous JV and regain control over our future, such that we now have this really exciting programme of events and newsflow to look forward to.

So overall, and with a lot of sellers already out, this has to be SCREAMING BUY at these levels. Selfishly, I hope it waits a while before reversing back up, so that I can unwind a couple of other positions and add here. But i'm relaxed and looking forward to H2 a lot more AFTER the webinar than before, for the simple reason that we had key new developments announced, namely, consultants report for Pepas and drilling at El Pantano. All imo and dyor

It was a telling moment when someone asked whether exploiting Pepas could pay for the other projects. BG enthusiastically rather dismissed that rationale, saying PEPAS is worth a LOT of money and needs to be developed for that reason in its own right, and not simply to fund other exploration. This modelling and optionality report could really re-rate this share by itself, especially if it is accompanied by some headline grabbing figures, which looks very likely. We know BG likes to crunch his own numbers before he gets external consultants in. That's probably why he was able to dismiss the idea of Pepas simply paying for the other projects.

Also, although he isn't a gold forecaster, I think he has factored in that gold is going to remain above 3000 and that's going to give them something really enticing to work with. Basically, regardless of whether and what else they find at PEPAS, something will likely be done with this initial deposit. It almost has to really given how high grade and at surface it is.

You might be right HarChris and I do hope your fortitude and resilience pays off here. Another lesson for me to always ensure the technical is aligned with the fundamental i.e. i've long since had the feeling that I completely mistimed my entry here.

However, there has always been large selling here, even when it was well above 1p. That large source of supply has been a constant.

I saw this a LOT in 2022/2023, where almost every placing was seemingly forward sold. Sometimes, the brokers and the company 'know' that they are going to be doing back to back placings (sometimes a whole cycle of them) each one at a lower price than the previous one.

Best time to do it is before the financials are released and the wider market gets wind of it. Also, just ahead of good news, so that the placees are incentivised to take part in it. But all speculation of course!

One thing we can all agree on, is that an update is needed and none of us know 'what's what' until we get that update, and all we can do in the meantime is speculate, whether positive or negative. Nobody really knows whether their own surmise will turn out to be correct.

I know that Kilcona has mooted the trucking ore option on the canadian bb. In terms of optionality, how realistic is it for any company to put such an operation in place, where they truck the ore to a nearby operator. What are the likely costs and timescale for getting such an operation together. Would it need a JV of some sort?

Rob - that's the problem when you announce your buys and sells. It all unravels. We now know that Seingred has been caught out as much as the next person by the drop. But of course his average will remain immovably low despite all this.

I actually let go of some of mine in 8s and upper 7s and took the hit, as this fall looked inevitable. I needed to release some funds for another share, and this was my worst performer. But I still have a (heavily underwater) position here. I will be looking to add to it, but not before the next RNS or other comms from the company.

If there is a placing, I would be tempted to load up into it, provided the rest of the narrative is 'all is going well' and I have the funds.

I really don't know why many still engage with the trolls. I have had them on filter for months, and it is SO much better that way. We have seen again this week that even after receiving 100s of posts from dozens of posters, the trolls won't deviate from their fixed agenda.

I do think its time that most people just filtered them. They are not here to debate or be reasoned with. Do you really want another 6 months of their drivel and clog up the BB in the process.

Totally counter productive.

Can't buy in small amounts. Therefore, looks like a bounce is on. Simply TOO MUCH positive newsflow ahead of us for this to remain below placing price of 9p for any length of time. Part of me hopes it remains low, as I need to release some funds!!!

Oh - let's not forget the soil sampling programme being completed at El Cedro, but think that will be secondary to Pepas and El Pantano which are likely to be the focus for now.

I think this is a strong buy and am contemplating unwinding another position to add more here. You have to try to ignore the present shakeout, whether engineered or not, and try to imagine what it will be like here as soon as this shakeout low is in. Firstly, we are going to have a gold price that will be headed above 3500 during H2. Goldman's have predicted 3800 and then 4000 next year. Secondly, drilling will continue at Pepas and likely to focus on the high grade areas for now. So that means high chance of more compelling drilling results. Then we will get the outcome of the modelling and optionality work to exploit PEPAS. They will either decide to pursue that option to exploit (likely with a JV partner) - and might or might not continue expanding PEPAS? If this isn't newsworthy enough, they will then commence a maiden drilling programme at El Pantano in Q3.

All this is on offer for 8p, below the price that some of the institutions have come in at.

Time to load up folks!

It's which came first, the chicken or the egg. The selling has been going on for some time now, not just in the last two weeks or so. It has to be large holders and/or a forward sold placing. I can't see how it's retail, as they would only have started exiting in the fortnight or so. But the large sells have been going on for much longer than that?

Also, the company's share price has dropped almost 100% in about a month, which can't have escaped their attention, and yet they say nothing about it at all? Is this because the explanation for the drop will be the announcement of a placing?

Interestingly, they didn't say anything about the third hole at Pepas, unless I missed it?

Pepas has spoilt us. Some folk are expecting bonanza grades every hole now. That’s totally unrealistic. Hopefully our institutional investors are more savvy than some of our retail. They expect to hit the high grade zone in new areas of mineralisation with the first hole.

Clearly OMI are going to try to do things properly and to get maximum value for their money.

One thing is for sure, a LOT of money will come flooding into here on positive results. It could end up being a very dramatic move up. We have to consider the following:

1) Very small free float.

2) A lot of sellers out already.

3) New IPO.

4) OTC has yet to get going.

5) In the "pre production sweetspot" on the Lassonde Curve.

6) Prospect of institutions and BO's industry contacts buying in on full de-risking and looming commencement of production and monetisation.

7) Still trading at very low share price relative to value and growth potential.