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We are sitting on a world class Tier 1 asset. It has been described as "globally significant". Does anyone seriously think that as soon as funding news starts to land, turning that $1.1 billion initial NPV and 96% IRR into a looming reality, that the shares will still be trading at these levels? Of course not! So the idea that there will be funding related dilution at current levels is one for the birds! That's the first point to make.

The other is that with multiple parties said to be interested, and cornerstone investor(s), there is every chance of getting a deal that doesn't involve dilution for shareholders at the company level. But not long to wait now to find out.

Elsewhere, every time I hear about the troubled agreement between TESLA and Syrah, i'd like to know whether BRES have been in contact with the likes of TESLA? If not, why not?

Nothing has changed folks and just ignore the obvious fudsters. We are just working our way through warrant related supply (whether through selling of original shares and/or selling of converted warrants). This means the current news cycle, as positive as it has been, has been used to flush through the supply, causing BRES to range trade between 7p and 9p. When you consider that this current range has itself followed a big move up from 2.5p, and that 9p represents the top of a multi year base, then it's a great setup on the technicals. When you then consider that BRES has more significantly more cash than it has ever had at any stage in its history, and has completed all work programmes, then its finances are in the best shape ever. So the financial situation of the company couldn't be any better right now.

So all this needs is for BRES to get the financing over the line (or at least the first term sheet agreed if they are going to end up with more than one funder). Here, we know that they are in talks with multiple parties and have the DFC as the cornerstone funder. In the meantime, the excellent drilling results continue to land (and continue to absorb the supply). We also have the upgraded JORC and offtake news to come as well.

I would argue that this is shaping up to be one of the most compelling propositions around, both in terms of the technicals aligning with the fundamentals. What more could you ask for then for the more minor items of newsflow to come in and clear the debris (i.e. supply) in the 7-9p range, in time for the major items of newsflow to then come in and take this to new heights.

Just a little more patience needed and use what remains of this consolidation to accumulate for a big move up. It's coming! All imo and dyor

Hi Doc - a lot will depend on exactly when those catalysts land. Some of the relevant factors might be:

1) What is gold doing at the time the particular catalyst lands?

2) What is the general market doing?

3) What is OMI's share price doing - consolidating, retracing or already on the move up? (FOMO, sell on news, etc)

4) Has there already been another catalyst recently delivered to the market?

5) What other catalysts or news is pending at that time?

There's no doubt that a new discovery at Pepas North will be a biggie. But I also think that getting "Pepas style" results at APTA will move the share price needle, especially if they land in favourable market conditions. It goes without saying that the same applies at El Cedro (huge project). As for El P, we will need to wait to see what they have already found, and how close they are to a major discovery there, when they will target the discovery, as well as what JV interest they get.

But plenty of fantastic share price drivers here, which is what makes this a very exciting and compelling share. If the Pepas MRE can take us and provide us with a higher floor (whether much higher or slightly higher), then it sets us up very nicely for one or more of the multiple potential catalysts that we have coming up here to then drive us up to the next level. That's the investment case here and it's just a case of letting it play out over the coming months and quarters. Let's hope we get off to a cracking start with the Pepas MRE. All imo and GLA

Missed all the excitement from last week due to travels. Gold needed a reset and hopefully should result in some more stable price action going forwards. Once it remains at elevated levels and the market can see that high gold prices are here to stay, this should feed through once more into the sector. OMI remains well placed and well resourced to capitalise on this upcoming environment. I think this is what BG is alluding to.

It’s great the MRE wasn’t released into last week’s volatility as it likely would have been wasted. Timing can be quite important with such announcements. So whether deliberately held back or delayed, much prefer to see it land when it will have the best possible chance of impacting well.

Nah - nothing to do with any of that imho. It's pure supply and demand dynamics created by the warrants. The volume that BRES has traded in recent months has been nothing short of insane. But a lot of the demand has been neutered by the huge supply coming from RAB/JAN exiting their large holdings AND from the warrants. You are talking 10s of millions of shares here that have had to be absorbed. This is going to slow down any move, but now that the cheapest warrant supply has been cleared, the share price is making its way back to its previous summit.

Incredible strength by BRES and gearing up for a breakout next month, to match those soon to be incoming fundamentals.

Have to agree with the Doc on this one. This is most definitely not the time to sell and think those that due will come to rue it. We are only in January and there is SO much exciting newsflow to come here during the rest of the year, regardless of the macros. There is every chance that new discoveries will be announced and we are on the verge of such at El P and North Pepas. We also have guaranteed world class drilling results to come from APTA, which is about to be drilled to MRE.

So whether the share price goes up, down, or sideways on the MRE, it will sure as hell be bouncing towards new highs on the newsflow to come in the weeks and months ahead. Of that I am very confident. OMI appears to have the midas touch when it comes to its projects. Pepas is the smallest but perhaps tastiest, but the big hitters are yet to come. Have to be here when those projects start to come home and for the biggest gains.

Do not give your shares away too cheaply or prematurely. Many have done already, and are no doubt regretting bailing out too early.

40p is a level we should all be relatively comfortable with and remain firmly sitting on those hands. But we've told many this already and folk will do what comes most easily to them. All good and GLA for whatever you do around the MRE!

Remember these are spike prices, not settling down prices. Ezhik you might therefore want to revise your 42p!

Yes - any minute now i'll be announcing my defection to GGP (or should that be WSBN?)

Okay just for you Nap - 60p

As you can tell, I have little intention of selling these too early or cheaply into any MRE related rise, and will be continuing the OMI journey into the exciting months and quarters ahead, when I believe the returns will be far greater than at present. But let's see...

It depends on whether the MRE confirms or exceeds the baseline expectations of the market. Also, whether we get the El P assays in the same RNS, or within a week or two of the MRE, so that they are both effectively part of the same newsflow and both contributing to the same "move" in the share price.

That's what makes this a bit tricky, as we don't know how big the MRE will be or how bullish the El P RNS will be and when exactly it will land.

I mean if BOTH land close together and exceed expections, then it would not surprise me to see us consolidate above 50p.

I just want a half decent MRE to give underpin a solid mcap, and then I know that OMI is literally one discovery away from significant further upside. I'm confident of seeing that upside develop from APTA and/or El P and/or North Pepas and/or El Cedro. The first two of these are at or near discovery already!

So let's get this MRE out of the way and give us a solid new floor and foundation to build from.

I'll just be happy to consolidate at around these levels tbh. Blue sky scenario would be to consolidation in the 45-50 range.

Yes, i'll bet you that certain posters will announce that they have sold. How about that?

Https://x.com/baroninvestment/status/2012063090527830404

He has summed it up perfectly - management just need to ensure that PEPAS goes into production. This single project and getting it into production virtually singularly guarantees a very special outcome here. Then it's just one more commercial discovery and oh boy....

Welcome aboard - still a great entry point with a lot of upside to come. Hopefully, you managed to get in just before a breakout to new highs. Pepas RNS expected any day now and will hopefully trigger that next move up.

Yes, the lab has been the one negative in recent months. But at least it gives us some newsflow to look forward to post DFS and pre funding!

Looks like a last sweep of the lower 8s before another RNS lands next week and hopefully takes us into the 9s?

Yes, starting to stair step again in classic OMI style and gearing up for another move up. Could be a real biggie this next move up!

Some folk prefer the pump and dumps and good luck to them. You can make decent money swing trading the junior goldies. However, doing that means far more work for you with less certain and higher risk outcomes. Personally, I think you will actually make more money in the long run sticking to a multibagger trender like OMI. Whilst many of the dogs will give you bigger moves over a smaller period, the majority of these moves will be shortlived pump and dump action. So you will have to be very nimble and luck will play a key part. At any minute, the placing will land, or the crappy results, or the MM games, or the orchestrated dump.

I believe I am making a LOT MORE money keeping my funds in here, than I would do trying to catch moves elsewhere. It's also a LOT easier and the outcome is more assured. You have leaders in every bull market, and I reckon OMI is probably THE LEADER of the pack when it comes to junior goldies on the LSE. No other stock can match its fundamentals, its projects and exploration potential, its technicals and its shareholder base. No other stock will outperform it, and when we look back when this bull run is done, whenever tha point comes, OMI will EASILY win 'The Bullrun d'OR'.

Elsewhere, I think I will be glad when gold has its next correction. It's time for OMI to decouple because it is an outstanding share and grossly undervalued irrespective of the current gold price. It needs to be judged on its own merits rather than be dictated to by the price of gold.

Yes bought GRL last year and soon regretted it. Way too many issues (really untrustworthy BOD - allegations of corruption and siphoning off some of the gold. Constantly overpromising and underdelivering - hopelessly vague and incoherent RNS updates on gold production, where they played around with terminology and numbers to try to make things look better than they actually are - doubts about how many ounces the mine can actually produce, doubts re debt, etc, etc). Overall wouldn't trust GRL BOD not to shaft its retail base.

But hey we're in a bull run, so you can make a case for any ole dog. Even the likes of ORCP, ORR and ECR will do well in this environment. The whole pack will come out, but NONE, will outperform OMI in the long run imho.

The only bad thing about OMI is the poor quality of the de-rampers. Come on fellas up your game.