Member Info for Legalwolf

This would be a major development if true. Any deal with a major is always a huge moment for a junior.

It could be any of the projects really - they are all attractive. Realistically, we can't progress them all, as we don't have the financial or the manpower to do so. So it makes sense for us to get some cash for one of the projects, and let the major free carry us on it. That cash can then be used to further progress our own projects.

We have been drilling at Pepas since November, and only just commenced at Pepas North - which is a much larger strike area. If we have hit gold at Pepas North (and the tweets suggest we have), then we are likely going to be tied up at Pepas for quite some time yet. Why not then allow a JV partner to crack on with El Cedro? Or El Pantano, where we also then avoid the minimum spend?

Not ruling out that the JV could be at Pepas! Might explain the looking at exploitation concepts tweet from BG. Maybe they have had interest from a major to expedite the Pepas project and take the gold to nearby facilities.

Well, looks like the pullback in recent weeks might now be breaking out into a resumption of the uptrend. If the results from the first well are positive, then should see this push on towards 20p.

DFC funds are coming in imminently according to MR and will leave Bres fully funded for all work programmes. That is great news and a relief. Also expecting an announcement re a UK offtaker, which I'm guessing is the new news that another poster alluded to earlier?

Explains the buys coming in.

I can also see this moving up steadily into drilling results and JORC expansion, hence why I bought in following the recent placing. I can't see a signficant JORC expansion getting a sleepy response from the market, but then this is Bres, so who knows. There might also be some catalysts before the drilling results, such as positive DFC news.

Will look to continue adding here as funds and portfolio circs allow. Wouldn't mind some more sub 3p, but looks like they are gone.

I don't know why we keep going around the same circle? I think we are pretty much all agreed that the company has a history of overpromising and under delivering. They might well do so again. However, those of us who remain optimistic do so with some caution. But we should all at least wait and see how they got on with the latest 'promise' that they made, which was as follows:

"It is anticipated that mining operations will re-commence in Pit 1 this month, where expected grades are 1-1.2 g/t, which with increased stacking and the continued improvement in leach kinetic rates is expected to facilitate the achievement of our production target over the coming months."

Now, if they haven't commenced at Pit 1 by now, then that will be game over for me. But if they have, and assuming that was sometime around the end of March to early April, then taking "over the coming months" from that point onwards, you would have to give it until June at least to see if they have once again overpromised and under delivered. The next RNS will give us a strong indication around this.

Could be weeks away from a belter or a stinker. Place your bets!

I get that, but every time I buy shares at well above my initial average, my overall average then goes up. Don't these laws of maths apply equally to all?

Just wondering how Seingred has an average of 4p, when he's been buying this all the way up according to his previous posts. Even if he has managed to catch the highs and low of the individual legs up, how comes his average has barely moved?

We know he's a bit of a trading wizard, but this is some next level kind of wizardly, which we should all be eager to learn?

Dr R - I doubt very many will realise those gains even if it gets to 20p, as they will have long since traded out most of their shares from the very start of this rise from 2p!

Seingred - just curious as to how you managed to keep an average of 4p? According to your posts, you've been buying and selling this all the way up, yet your average remains low. We know you are a trading wizard, but you must be buying and selling very paltry amounts to barely move your average?

Ask just gone up. Another decent day tomorrow and on similar volume, then we should be on our way for this next leg up. But only a matter of time now really.

Certainly price is tightening up with the last of the sub 4p slowly but surely being taken out. Bit more volume starting to come in as well.

I've just added some more. Looks like it's readying for another push up into what looks like it will be a very positive set of test results.

The way I see it is that if all is going well with the stated plan and since the last update, then we are literally only a RNS or two away from an inflection point.

Reading the March update, there is perhaps reason to doubt whether the gold pour since then was going to generate monthly increases due to the low grade/exhaustion of the pit. They hadn't started Pit 1, but were close to doing so.

Therefore, they are "probably" waiting as long as they can for this next RNS, so that if they have to report any stagnation or even drop in production since March, they can present that alongdise a more near term bullish forward outlook re the "Expansion in Progress" (Pit 1, pads 3&4, cell 5, etc), so that it gives confidence that the overall production target remains on track and very much within reach.

Elsewhere, noticed that there appear to be equally matched large seller and buyer here, unless its the same entity buying and selling in 500k chunks?

You can't blame them for squeezing out every last share, before they move price up. The bid ticked up towards the very end as well.

The tweet and accompanying image pretty much tells us that the next RNS is going to contain (at least some) really good results. In a stronger market, it would have caused more of a stir.

I had my finger on the buy trigger towards the end, but surplus funds are tight and I couldn't decide between this and another stock. Therefore, will review over the weekend and look to add next week. GLA

Yes it all sounds very positive. It's not really BG's style to put out positive tweets without anything to back that up in the results to follow.

Re share price, can't see it dropping much from here - meaning that these will be the cheapest shares you will get now IF the next set of results are as positive as the tweet and image are indicating. If there's gold at Pepas North, then that virtually guarantees more positive newsflow for much of H2 of 2025, because there will be plenty of holes drilled during that period?

More interested in whether VC might be right about his interpretation of the imaging that OMI have put out in the tweet:

"Very hard to tell, but the holes in the image that are circled may be 33/34. The holes are at the same kind of angle as Pep001 which is easy to identify. Basically all drilling was more north south and these circled holes appear more east west like Pep001. If they are, they both look very mineralized from surface and long! There is also a chance this is showing 35 and 36 I may see another hole at similar angle to 33 but more west starting point. But not sure, very hard to decipher. That hole looks pretty mineralized too."

If correct, it supports the likelihood of some pretty positive results to come out next week?

Yes I agree. Also great to read that they are starting to think about exploitation concepts.

“Progressing well” - must surely mean they have hit gold at Pepas North? If so, could be a big RNS on its way here shortly.

Copper consolidating nicely above its 50MA after the recent washout.

We just need this to hit 4.2p to signal resumption of the uptrend. Very close to that now as the last of the sub 4p are being taken up. So a strong session of buying is all it will take from here. GLA

Gold price has bounced at its 50MA, so hopefully will also reverse back up, along with the rest of the sector, including OMI.

Anyway, when do folk expect the next RNS to land?

We also need to factor in the sector sentiment, the gold price and the wider market. All of these can (and likely will) also impact on how high the share price will go up or down on results. Arguably, the gold stocks are indeed moving with the gold price.

The individual legs up or down in the share price matters a lot more if you are a trader, trading the movements up and down. But it matters less if you have decided to position/invest into OMI over the longer term no matter what, because you believe it will continue to multibag over this period. So its different strategies for different people, and we can each only really say whether we personally adopted the right strategy for ourselves, and would do the same again, when we finally exit OMI and look back on our decisions and the results we achieved, and whether we would have done the same again if given the chance.

We are not all in the same boat here and this is not an exercise in synchronised swimming. That's what makes a market (and a BB) after all. So we don't need to argue over who's strategy is best, as it's flawed and pointless, and should really stop. But each to their own. All imo and GLA