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Another positive is that Gold is back on its way up after its recent correction. Analysts raising forecasts to near 4000 for 2025 and some talk of 4500 for next year.

This is the perfect backdrop for OMI to discover new gold fronts at Anza.

It's of course dependent on the results, but OMI does have the potential to get to 20p. It has already touched 14/15p based on Pepas results, such that you would think any strike at Pepas North should break 15p. Otherwise, there is no point the institutions getting involved if they aren't going to ensure the share price gets going again on positive newsflow.

I would not be surprised to see this rise above 12p and towards the top of the range in anticipation of the next RNS, which is likely to be the most significant RNS we have had to date, when you consider its potential content:

1) The first hole(s) at Pepas North where drilling has commenced.

2) Further drilling results from Pepas 1.

3) Further channel sampling results from around Pepas 1.

4) Results of the airborne magnetic survey.

5) Sampling results from El Cedro.

When you factor in all of the above, it is difficult to see how the share price isn't going to be given a big push - in which direction obviously depends on the results. All imo

Karl/Rob - good posts and couldn't agree more with your analyses. OMI is extremely fortunate to have three cracking projects vying for attention and money right now. Impossible to choose between them, other than it makes sense to go with Pepas first because we have already started and had great success, with strong potential for this success to continue in the North. But no doubt BG is probably itching to get drilling at El Cedro and El Pantano. You would think that at least one of these two projects will have a maiden drilling programme in the second half of the year. We obviously need that bit of luck that all juniors need, and nothing is guaranteed, but the next 6 months promise to be even more exciting than the last 6 months have been.

The first sniff of more gold in the ground, and these insti's will force the price up. They don't make money otherwise!

Sein - I took some Agnico earlier in the year and then sold for a modest gain. Cora is looking really strong at the moment, and it was a choice between it and OMI as my big gold bet. I opted for OMI because it's still exploration and because of the jurisdictional risk with Cora, but Cora is otherwise a cracking share/project. My concern there would be once you get the mining permit, then what? It goes into a rather boring and long construction phase. So will the mining permit be the sell on news event over there?

Seingred - I've listened to Rick Rule and other noteworthy investors say the same thing. But those kinds of more serious resource investors would probably not touch the AIM casino. In fact, I've only come across RR investing in one AIM company, which was Power Metals, and even then, he seemed to cover his back by going for a share subscription the details of which were not fully disclosed.

This is AIM - it's a Casino, nowhere near as serious as the TSX (or even the ASX).... all imo

Shareholders can sell at any point they want without any accountability. Directors don't have the same 'freedom'. They are often stuck with their holdings. How many Directors on AIM are in profit on their holdings do we think? Not many would be my guess. If I was a Director, I would think carefully about buying and then being stuck with the holding.

As for alignment, we know that's a fairy tale when it comes to most (AIM) shares.

Given that drilling has started, is it now likely that the next RNS will be a mixture of Pepas 1, Pepas North, aeromag survey, and El Cedro results?

It's right to point out - because someone keeps asking why there's selling - that we ALSO have strong buying at these levels. So there's clearly accumulating going on in and around this 1p level as well. It's likely that 1p will be the launchpad if this comes good and will the price that future holders will look back on and wish they had gotten in at this low. Hopefully!

They are in a closed period and will be for some time. These options enable them to participate in the upside. They decided not to take up shares in the placing so as to allow institutions to take them instead. That was selfless - if you believe the explanation!

Is this issue going to prevent OMI being a success? Will it materially impact on OMI's ability to hit 30p or 50p or £1 or whatever share price target you are looking for. If the answer is "NO", then I wouldn't waste too much energy on it, especially as it's clear they can't or won't be buying shares.

Tweet from OMI to confirm drilling has commenced at North Pepas. Bring it on!

The reporting needs to be better. Why don’t they report gold sales as well? Are we to infer that all gold produced is being sold or is any being stocked? We also get to see what sale price is being achieved?

The financials will be due in June?

Lord - I don’t get that at all. The share price falling if production falls back does not mean it is priced in. You have to think of anticipation of production as a separate stage. Share price rises the more you move from anticipation into production in terms of the de-risking steps and time. If there is a setback and the price falls back, it simply means the anticipation of production has fallen back, not that the actual production is priced in.

Like seriously how can 15p represent production being priced in? That’s one of the craziest undervaluations ever and no point even raising at these prices if the Rudyard production can add nothing to the share price. Real head scratcher that🤔

Far too many false dawns here. Constantly over promise and under deliver. After enduring years of it you just become a bit fatigued by it. Dilution has been crazy. Delivery has been poor.

Lots to look forward to for sure. With some decent size buys coming in, I think anyone will do well to get anymore in the 10s. Think the 'smart money' will start to similarly take up all the supply in the 11s now. We could be back up to 12-14p range before results land. Then we just need another one of those worldie holes from these below mentioned holes to put another rocket under this and lift it towards the upper teens.

There's no way production is even remotely priced in. The same would be true if the share price was in the lower 20s! That's a ridiculous contention both in terms of the share price, but also the fundamentals. Even with this week's RNS and interview, the company are still talking in terms of "de-risking" the project. With a junior/AIM share, I don't think the market takes anything up front or for granted. Bo and DM are sort of opposites. The former carries as much trust and confidence as the latter carries suspicion and caution from his HE1 days imho.

So still some work to do over the next few months to get the market to believe/trust the narrative and THEN start to reflect that in the share price. That belief (and FOMO) should start when we get the results from this well. Also, the wider market is rather subdued at present, and that plays a part as well. Defining few months coming up here for sure. All imo and dyor

Phase 2 results should start to come through any week now. MM just squeezing the last of the supply/weaker hands below 4p. If the results are as exceptional/world class as Phase 1 results, this will blast through 5p. Above which is pure blue sky upside and when the real fun starts.

The fundamentals come with doubts, which is evident from the discussion on this BB. As a newcomer, I am detecting that the doubts are to do with trust in the management, ranging from their comms to their conduct, and their performance to date in terms of overpromising against timelines.

In these kinds of situations, there is only so much rope that management have before most will move on. I think at present that rope has about 2 months worth of 'stretch' left in it and everything seems to be riding now on Pit 1 producing the grades required to increase production. There is no point investing here knowing that, and then not giving Pit 1 the time needed to prove itself or otherwise.

There is still a lot of supply at these levels. Whether its warrants, debt converted shares, insiders bailing out, impatient investors, traders, or a comibination of all of these, who knows? Sometimes it can be MM reshuffling their stock, or having large orders that have been sitting on their books for a while, which slowly then get cleared, rather than a reflection of current sentiment. The wider market is also rather subdued right now, which also plays a part with most shares.

But ultimately, none of the speculation alters the basic proposition here which is Pit 1 seemingly needs to come to the rescue of the target here and keep it alive. And to find out if it will/has, we need to wait a couple of months. All imo and dyor

I was also waiting for the 9s - that's not going to happen. Think all the 10s are currently being soaked up. I like the recent price action, because it has slowly but surely enabled many of the warrants that want to cash out at these prices to do just that - the last warrant update was far less than the previous month. So these sellers have also been absorbed. In addition to them, we have also absorbed other sellers in the 10p to 15p price range, as this has moved within the range a few times now and for a while.

What this all means, or which I would hope it means, is that for the next push up, whether triggered by RNS or simply on anticipation, should be a lot stronger than before. We certainly have plenty of positive newsflow to come in the next RNS across El Cedro and Pepas. I would be very surprised, and disappointed, if it doesn't take us outside this range and to new highs, but of course, everything is results dependent and right now, Trump dependent as well.

Now imagine if you could do all of those at once - that would be impressive!

Interesting speculation. Is it possible that they saw this FDA decision heading their way, and got the placing away beforehand whilst the going was still good and before they had to announce the FDA decision, or received it officially?

I mean today's RNS reads as if they have known about this for a period, because it talks about ongoing discussions and BOD being confident of meeting all the requirements, which level of confidence you simply don't reach overnight?