Member Info for Legalwolf

I could understand the strength of feeling being expressed on here if the share was trading, but it's in suspension, and so in a way, much of what is being argued seems academic. Time will tell and shareholders are helplessly at the mercy of 'external' events which they have no control over and can do nothing much more than wait it out.

I don't think there's any prospect of legal action against GCAT being taken by shareholders - for much the same reasons as JC has set out, as well as the fact that these kinds of threats always surface during situations like this, but almost always fizzle out and people move on. The only action that might get taken, is any the authorities deem appropriate to take of their own volition.

I also don't think those who are more glass half full, should be having a go at those are not. With everything that all shareholders have had to endure here and the time this is all taking, the glass half empty view is totally understandable and more than justified. In fact, I would imagine that 'glass half empty' is likely to be the majority view amongst shareholders here after being put through the ringer.

I mostly now only follow GCAT to see how the drama will unfold and end. My glass fully emptied a long time ago.

I personally think that the current JV with ENOG won't go ahead. They will surely revisit the terms, if the results don't match the basis on which the JV was agreed in the first place. Char is NOT in a good negotiating position, and this would not be a good outcome for Char in terms of the delay and uncertainty this scenario would entail. If a low ball T/O or MBO is being planned, then it makes every sense to keep the share price depressed, and this kind of renegotiating with ENOG would play right into that, as the uncertainty would further harm the share price. Of course if ENOG (and others) are being strategic here, then they will probably highlight whatever negatives they can when it comes to this drilling?

Or maybe the low share price is making us all conspiratorial?

"OMI explorations is not going to fruit any peaks of number of years ahead..."

Don't see how you can be so sure of this. The gold price is much stronger than when you were shouting 65p, and all it will take is for Anza to continue to produce excellent drilling results.

So every chance of OMI going on a run, once it gets drilling. The main stumbling block and which might prevent this happening is the finances. Need to find a new JV partner.

Absent any JV partner for now, the plan needs to be: Drill 800m at Pepas. Then raise £2 million. Use this money to drill again and secure a new JV.

Reading the posts since yesterday, the only thing that is clear, is that there is so much uncertainty!

Only a mad man would think of holding this for 5 years.

Bhargav - but have you learned from your mistakes, or learned the right lessons from them? Yes OMI is currently behaving like a day trader's share, with spikes that people can profit from. But this reflects its circumstances and the prevailing market conditions. However, there have been and will again be times, when you can and will profit from holding OMI for a longer period - providing you sell at the right time!

So basically, context is important. Whilst 2024 has so far been a day/swing trader's year with OMI, where there have been no big moves up in the price, who knows whether 2025 will be like past years, when you were telling everyone this was going to 65p.

"Any new investors from yesterday or today will again have to wait for a year or more to break even."

???

Why does OMI have so many small trades printing through? It seems to be a lot more than most other shares.

"I've a new girlfriend...."

That's great, can we all encourage you to spend more time with her* rather than waste it on here. Hopefully the relationship won't sour like the one you have with OMI/BG.

*sorry girlfriend

Dr R - not sure OMI can rely on the warrants? It's not cash in the bank, we don't know how many are outstanding, and there's no guarantees with them, in terms of share price going up, or whether and how many would be exercised?

You have to feel for those holders who rode it all the way to near 40p, only to fail to take profits because they thought £1 was the target. Same for some OMI holders.

The more I do AIM, the more I come to realise that it's a "one day/swing trade at a time only" kind of market. If LTH work, then the market has to be bullish throughout that period of time as well, which is rarely the case for AIM and its juniors.

Re GGP - way too many shares in issue now, and they have to do a consolidation in order to return it to some sanity, and they will want to as well no doubt.

BDC - hasn't stopped them before and needs must! That's their MO imho.

Bhargav - bottom line is whether there is money to be made here regardless of all else. The answer is clearly 'yes' on the basis of the deal being almost over the line (and some have already made money off the back of the RNS). Yes it won't be plain sailing and there are negatives ahead too (e.g. cash position in particular), but the main thing is that OMI can finally start to breath again after being choked by MMA.

So let folk enjoy the summer here after the long winter.

Assuming they have any genuine interest lined up for it. They've talked that up, but no specifics?

BDC - be that as it may, but any sale scenario will entail significant delay, which means another cash raise to be endured. BOD here can't be trusted not to go down that route imho.

Yes, had a medium sized position in Char and was thinking of selling it as there was no rise on anticipation. But broke my rule of holding through an O&G drill (as it was part exploratory and part appraisal). Now nursing a loss!

Another example of why holding through O&G drills is a losing proposition. For the odd one that might make you money, the rest will highly likely take it all away.

Come on Bhargav - time to let go of the negativity. Do whatever trading you need/want to do in the background, but it does look like the deal is now only a matter of short time in being concluded, and if OMI has enough cash to go straight into Pepas drilling, then the odds very much favour upside from here.

The current deal is based on the current estimates. If the well comes under estimates, then won't the whole deal need renegotiating, assuming ENOG wish to continue with it? CHAR's cash position means that it can't really afford much of a delay to FID. Char is an expensive outfit.

Not great but that's O&G drilling for you!

I really feel for holders here. Really being put through an ordeal here and RM needs to step up with some explanations imho.