Member Info for Legalwolf

Sharetrader - it went up because it was being free carried and therefore was fully funded. Now it's not and that's a massive difference. Dilution stops most AIM shares from making any kind of run.

I think OMI will be a trader's share around the fundraising spikes, rather than an investment that will go into a steady and reliable uptrend. Until or unless they get a JV.

I don't see what the issue is here. If you look at the weekly chart since the placing, we have been going up each week. Yes there has been lots of selling, but come on, after a huge placing, there is going to be huge selling. The fact that the share price has nonetheless been edging up each week, shows the buying demand here. Now all of this rise has been BEFORE we had the confirmatory RNS.

So patience is needed. We will crack through 3.3p if we maintain this upward trajectory. These are very cheap shares for what's coming up here. Placees will take profits, but they will be replaced by buyers wanting to make even larger gains that will be achieved when Heron 1 goes into production, which is only months away now.

No point investing here if you don't trust MB to deliver. If you do, then grab em whilst they are going very cheap. All imo and GLA

I didn't say the SI is not going ahead. I said if it doesn't go ahead, then MR's strategy has not worked, and he will need to find the money from elsewhere. There is no guarantee that he will, or that any alternative funders, will be willing to come in without a discount, as he has himself effectively conceded imho.

So this SI needs to go through in order to financially de-risk this to DFS. I think even MR acknowledged the importance of the SI money. Will they come in at a higher share price? That remains to be seen imho despite what MR says.

I'm not invested here. I won't be putting serious money in until at least the SI money is secured.

This is a BB for discussion - pros and cons. The share price has done nothing for the last two years, despite all the (false) hopes. Even MR cannot explain this and is baffled by it.

With financing still an issue (until or unless the SI money comes in), what reason is there to believe that the share price will suddenly do something that it hasn't managed to do in the last few years? If others want to come up with hocus pocus reasons for why it will be different this time, go ahead, knock yourselves out. I'm sure we've heard all the arguments before. But I prefer to keep grounded in reality, which is that the outstanding DFS financing is likely going to hold this back (i.e. trading within the 4p to 6p range), until it is secured.

That's just my personal reading of the situation, but i'm no sage or guru and have been wrong plenty of times.

I'll end on a positive, which is that MR is clearly an honest and straight talking guy, and its refreshing to have this kind of approach. He doesn't sugar coat or ramp, and tells it how it is, good, bad and ugly.

My point exactly NewboF! Most folk will not want to hold through a placing. The discounts these days to raise any decent sums are ridiculous.

BT - unless the announcement of the deal comes with a JV partner, which it isn't, then any JV is not going to come in time to stop the placing. So we can discuss a JV down the line, but can't see it happening this year. Haven't the current JV partners pulled out in part because of the jurisdiction?

Dr R - as I am sure you already know, juniors don't get to dictate placings, they are told what's on offer and it's take it or leave it. It will be the same for OMI. If they raise upwards of £1 million, it will be at least 30%. Not many traders are going to sit through that risk.

Don't get me wrong, Anza is a great project, but no matter how good a project is, the cash position is always the primary consideration. Before OMI had a free carry, now it has the heavy burden of financing exploration.

Espen - I would expect to see anywhere between 7p - 10p in the first instance on the basis of the NICE recommendation.

Did he not also say that if he had to raise from other quarters, that will require a significant discount? So as some of us have said before, and MR acknowledged, it's vitally important for this SI funding to go through, as without it, a discounted raise will be inevitable and a reality.

Total market size for CYP2C19 alone is £220 million and growing. Re-rate incoming here next week!

In that presentation, they confirmed that CYP2C19 is the flagship product and that "they cannot see any reason at all" why the draft NICE guidance will not become final guidance next week.

Let's approach this another way. How much money do folk think OMI will need to raise to fund more drilling at Anza and Argentina, as well as working capital? I would suggest that at least £1.5 million.

How is this not going to require a significant discount?

Rarely does a share price go up, and crucially, stay up, ahead of a known large placing to come. Anyone arguing otherwise is ignoring the reality of how AIM market/traders operate.

So whilst we might get a rise here on Pepas drilling, the reality is that it will be a paltry 800metres, so hardly going to move the needle. But even if it does, as soon as the drilling is over, what is the herd going to do when it knows a big placing is coming down the line? They will take profits and step out of the way of the placing will they not?

Potentially a very large reverse head and shoulders pattern forming on the chart. If so, the target price is 5.5p by close of play on Friday. Let's see if it plays out. GLA

How does the share price sustain a rise IF there's going to be a sizeable placing? Regardless of whether it is before or after the 800m drilling?

These things tend to fuel themselves. If you look at the chart, there have been several times where MATD has made a move of 50% to 100% in a week on far less volume than what we have at the moment. The ONLY reason imho that it has not made a similar move now (on far higher volume than these previous moves) is the placing churn. Once that is done and we break the 3.3p resistance, then we will make such a move, as buyers will see the placing shackles are off.

As another poster has remarked, this has been going up each week since the placing.

Right now, it's a case of accumulating what you can below 3.3p, as this will form the new floor from which the move up will occur from. And that move will be a lot quicker than this current move up, because there won't be placing overhang above it. We have SO much happening in H2 of 2024, and lots of newsflow to sustain a new uptrend during this period, with more than one transformation milestone during this period. Fully cashed up as well.

Looking at the weekly, I think we will break 3.3p this week. The placing handbrake is starting to release... All imo and GLA

Don’t disagree with you there Stringer, which is why I have said Q2 2025, because by then the DFS will be complete and paid for and Bres might be approaching binding capex and off take deals.

That was a cracking presentation from DM. He was in ebullient and bullish throughout it. Confirmed fully funded and no plans to raise cash. So a lot of uninterrupted upside for holders here to look forward to. Second drill (at least) looks nailed on. Impressive finances as well and shows how undervalued HEX is. Would expect a fairly rapid re-rate with only circa 100 million shares in issue as well. Can't wait to see what the next few to unfold here. All imo and GLA

Seems like it. I'm sure the new guy will want his first RNS to be a stellar announcement. Should land any day now.

Https://x.com/aimrns/status/1815771363522527678

Computer - totally agree with your 16.25 and have been wondering the same myself. The fall in the share price is going to make it even harder for the SI to commit to putting in such a large amount of money at a premium to the share price. They might well want to renegotiate, or will walk away, or just obfuscate by saying they have admin issues to resolve.

The issue of the funding of the DFS was always going to be a big ? for Bres, and up until now, the DFC money has been taking attention away from it. But now as the DFC grant gets used up, attention is rightly switching back to how Bres is going to fund the remainder of the DFS.

I'll keep this on the watchlist, but not expecting much of a change from Bres's range trading action around 5p until ~ Q2 next year. All imo and dyor

BT was very clear in the interview and did not suggest a commercial discovery. What he said was that these results increase the probability and confidence that KAV will make a discovery during the remaining 4500m of drilling. I think there are about a dozen targets still to be drilled.

Make no bones about it, KAV is very close to making a transformational find in Botswana, not to mention the equally compelling chances of gold discoveries in Zim. Copper and Gold - perfect combination.

As BT said, it's going to a news filled packed second half of the year, and I can see the share price going on a big run during this period. Liquidity is tight and most of the stock is in tight hands. So when it moves, it will move. Best to load up during this consolidation period imho, before BT starts to hit the market further with some drilling results.

Hadn't noticed it before, but we do appear to be forming a bullish flag/pennant type pattern, which looks primed to breakout - hopefully to the upside. If so, target for breakout would be 1.8p to 2p.

On the issue of cash and the need for a further raise, unless there is going to be a sale of TP in the interim, then shouldn't Chariot be on "cash conserving mode" until the Anchois drilling is done and/or FID money is received? I do feel the company should pause/slow down its other projects until things are clearer on its flagship project. I hope some re-assurances are given around cash conservation/FID timescales/money at the presentation.