Member Info for Legalwolf

Obviously a lot of us are very interested in OMI, but this never ending delay is really making it difficult for anyone to buy with any sense of timescale and hence confidence. It just feels like you are taking a punt into the dark, which is neither a calculated trade or an investment.

For example, I thought this was cheap when it fell into the 3s, but it's already down a significant amount since then. Again I am asking whether buying now is cheap, or will I be sitting on a 30% loss in a matter of weeks, because no deal or update has landed. Then on top of this you have the placing risk, which looms with a sense of inevitability in the background, and if any placing lands at these prices, then you might even be sitting on a 50%+ loss from current levels.

Some will call it a de-ramp, but it's a genuine conundrum and why there's not much buying appetite even at current prices. Needs and update as to wth is going on and exactly what the hold up is at this present moment in time, with some forward plans.

One has to ask again, is OMI being run into the ground? All imo and dyor

If this was a proper market with proper accountability and where shareholders had any sway, then LB would have been long gone. Since she has taken over, she has overseen ridiculous fundraises, apologised for each one, but then carried on doing them.

A lot of AIM companies are nothing more than trading vehicles disguised as genuine companies with genuine intentions and motivations. It's becoming increasingly difficult to "invest" with any sense of trust and confidence in a lot of them and you have to be very careful and selective.

Isn't it a bit of a red flag when on the verge of announcing a discovery on your flagship project, you decide to acquire another one, especially when you have little to no cash? That's just more dilution, which again make the apologies for previous dilution sound hollow.

Definitely not an investment share and probably never has been?

Trek has posted on HEX bb about Blue Star going into trading halt due to a capital raise. So already turning into HE1!

I see my old nemesis RJ hasn't changed much judging by his latest posts on HE1: "fear is the only word to describe this and just like the government and media use it on people daily a massive influx of total unknowns flock to this bb to scare the **** out of holders. I ain't budging. there will be no white flag aboard this ship."

Poor sod!

Having said that, I can't comment on whether it's still a good day trading stock, as I don't day trade or have a lot of day trading experience (hence don't know how to day trade effectively). Will likely take it off my watchlist...

Interesting RNS with HEX as well? Is the delay an opp for insiders to exit or add? Are they going to switch to Rudyard instead? Very HE1 like questions arising there now as well.

It's hard to escape the feeling or conclusion that HE1 is and has been for a while, by accident or design, just a share trading racquet for the MM/NOMAD/BOD. The amount of dilution to get to this stage is eyewatering, and there is loads more to come. I don't think there is going to be any major significant newsflow that is going to land there now for a while now, which is going to persuade enough buyers to take a further punt on it, with all the dark arts stuff.

I wouldn't touch it now, even as a trade, as there are simply too many shares in issue.

It's been a really good trading stock though (for those who have managed to figure out the shenanigans/racquet) but sadly there are too many who (still) have not. All imho and dyor

Made me think of Tai 1 when I read it.

You deramp every single RNS. Why do you bother? Do you know better than Purebond who have now invested £10 million into KAV and are willing to put in millions more?

Another excellent RNS. Well done KAV. Gold doing well as well.

I would have thought that once PKF sort out the current accounts, subsequent accounts shouldn't be as problematic. But then we thought this with the previous audit and look what happened.

With GCAT being so cash strapped right now, will this new money be sufficient for its Kili expansion, or will it be needed to pay existing liabilities and leaving it still needing cash for expansion work?

ST - except we DO know the deal isn't going to land anytime soon, because BG has gone quiet on twitter, which is in contrast to when he though the deal was near to being concluded.

MM - I can assure you that I have NOT been buying. You talk about timing, and consistent with my belief that this deal isn't going to be concluded any time soon, that this is going to drop to 2p when no deal or RNS lands in the next week, and placing risk if the delay continues for much longer, I don't wish to be sitting on significant drop from these levels. But each to their own, and just my assessment of risk to reward right now.

For some reason, even with their own Rig, the costs at HE1 are huge. Therefore, if they fail to produce the goods with these EWTs, I also think it's going to be very difficult for the company to come back from this. The dilution is becoming prohibitive and they will need more cash irrespective of the outcome of the EWTs.

There's only so many times the herd will keep falling for the same story, and there are now a number of rival Helium plays on the LSE, whereas previously HE1 pretty much had the pitch to itself.

I have, and I am left wondering how not getting regular updates actually makes the situation any better and more tolerable, particularly in the absence of any tweets or any other comms. It basically means radio silence with everyone left wondering how long it's all going to take from hereon, with the most recent RNS mentioning "substantially delayed".

So if it was "substantially delayed" at the start of August, it would help to know how close or delayed it remains at the start of September does it not?

Otherwise, you are left wondering whether the reason OMI are no longer giving monthly updates, is because its silly to do so, because the delay is actually going to take much longer and is best measured in quarters, and not months.

How is this going to help the share price?

If they need a permit from this same Governor (or his office), that doesn't bode well at all.

If it's the same Governor, that doesn't bode well at all, both in terms of timescale or the actual decision.

Delay updates have been monthly, and so if that pattern is continued, we should be getting another RNS in about a week or so?

Great to see KAV making good progress in both Zim and Bots. I know I have said it before, but I do genuinely believe it could be a transformational end of the year coming up here for KAV. Gold price is doing great, and so it's a great time to release any kind of positive golds results, or news about KAV mining. Plus if we get any hint of a copper silver discovery on KAV's huge land package, then that will be the icing on the cake.

So feeling excited about what Q4/Q1 might well bring here. GLA

Of course the RNS isn't going to mention the word "delay". It doesn't need to because the matter is already delayed and every day it continues is another day of "delay". So when next week's update confirms that deal is still not over the line, then it means the delay is continuing. How long might it take thereafter? September? October? Q4? Q1 of 2025. Basically, no one knows, not even BG, after initially telling us all that it would be concluded in April 2024.

If you lot think the market and MM are going to react well to this kind of open ended and non committal RNS, then more fool you imho. So far, the market has punished the delay taking the share price from 5s back down to upper 2s, and so it shouldn't come as any surprise if next week's delay continues RNS takes it down further.

But let's see...

Hard work keeping up with all of this. Twists and turns and new facts all the way. But seemingly getting resolved which is the main thing.

Are people still thinking sell off on relisting, or are things taking a more positive turn?

MATD should have mentioned the permit previously and factored it into timescales provided to the market. It shouldn't just be communicated to the market out of the blue. Did MATD also make clear that the regulator would be involved in the deal with PC, which is another factor that might impinge on progress?

Is this typical AIM stuff, where a company ramps up a more positive narrative around the placing, and then the full facts only emerge afterwards? All imo and dyor

The bottom line is that from the emails comms that folk have had with BG, there is little to nothing to suggest that next week's update is going to say anything materially different to the previous ones, namely, that the deal is still pending, meaning this saga will continue into September. The timescale is out of BG's hands and he remains "frustrated" albeit with little shares in the company taking the hit.

When next week's 'yet more delay' RNS lands, and MM take this down further, it will be hard for anyone to feel the positives. It is imperative that the delay RNS provides some kind of timescale, because simply saying it will extend into September is not helpful at all.