Member Info for Legalwolf

Ah right - understood. Thanks

Anyone got any idea why we have so many very small trades at 7.8p?

Yes, it's definitely not ordinary retail selling imo. Could be one of a number of other possibilities, including shorting.

The timing of this deal has certainly killed the excitement that I believe, and I am sure most of us believe, would otherwise have been generated by this return to the KSZ. Whether that excitement i.e. buying, returns after the first round of voting is done, remains to be seen.

Still not published the Q&A?

Of course, I don't speak for other PIs, only myself, but I know others have expressed similar views to mine, as to why we are not inclined to invest here just yet. The main one, I think even most LTH agree with, and in fact Naheed herself alluded to at the recent webinar, is that ORCP are yet to sign any "binding agreements". There are lots of AIM companies that agree LOI and MOU, and in these bear market conditions, such non binding agreements are not going to convince most investors. So I would say that this is the main reason that most private investors are not getting involved here just yet. Let's call it the fundamental reason.

The second reason is that ORCP is in a downtrend and has been raising at lower levels each time. Naheed was asked about funding at the recent webinar. Fair play to her, she didn't try to spin or bluff her way out the question, like a lot of others might. She played it with a straight bat and basically confirmed that ORCP will need to raise again at some point, and that this was a fact of life for a company like this. The problem, for me at least, is which will come first? The fundamental announcement that will finally catch the market's attention, or the next round of fundraising at lower levels than before? It's a bit catch 22. Lets call this the technical reason.

I've decided that the best thing in these circumstances FOR ME is to just keep watching and waiting. I must confess that I was tempted during the recent drop, but I'm trying to be more disciplined and sticking to some rules. One of those is to investment only when there are signs (subtle or clear ones) that the market is starting to see the value that you do in that stock. Otherwise, you could end up with your money stuck in a non performing or losing stock for a very long time. It makes no sense to me at all to do this? And yes, I have done it and speak from experience.

So the fundamentals and technicals have to come together?

Hopefully, that will happen here soon, and it was good to here Naheed recognise the need for "value" and "upside". The MOUs are encouraging but now need to be followed up with something binding, and the sooner the better. All imo and dyor

We have had persistent selling/seller here for some time now. Very large volume as well and usually hitting the bid?

Quite happy for us to have these incremental daily rises, absorbing the selling as we move up, rather than have more volatile moves with sell offs. To think we haven't even had the Rig RNS, or any promotion from He1, you can see that there is so much more to come here. I think NHE only doing one drill also makes the timeline easier to manage for both companies, giving ample time to mobilise and for each to drill their hole without that time pressure.

I’m actually glad we’re collaborating because so far NHE have totally outshone us on the promotional side of things and will doubtless continue to create a buzz. Hopefully, once LB has the rig sorted she will similarly step up.

Strong buying today. Looking forward to close today and continuing this push up towards the 8s this week. GLA

Absolutely brilliant. Exactly the announcement we were hoping for. The Rig to be mobilised this month and finally the wait is coming to and end. Let the fireworks and fun begin starting tomorrow. GLA

Assuming they are ready to lift the trading halt 'today', then the announcement could be made later than this. For example, the trading halt was announced at 9:18am local time, so it could land any time between now and 1am.

But I'm assuming here that companies always have to or only lift trading halts pre-open, and never during the trading day, or after market close?

Completely agree with RogerJ - let's have all three pieces of news SEPARATELY and build that momentum. Start with NHE's announcement in a few hours that they are fully funded and now ready to sign Rig RNS, which should take us into the 8s this week. GLA

Hi Pic - that would mean the DFS cost is $8 million, with Bres and DFC each paying $4 million. But then I'm sure I heard MR say that the total cost of the DFS was $4-5 million. That would mean only $2.5 million grant from DFC, and not the $4.5 million referred to in the RNS.

I would imagine that NHE will have known what they could raise through a placing before they decided to go down that route. I’ve also read that $10 million is coming from an institution (one or more I don’t know). For all we know, the farmout partner might well be taking a heavy part in this placing.

Anyway couldn’t care less so long as they get the money. Rob a bank or two if they need to (only kidding).

I expect them to be fine and reopen for trading next week. All imo and dyor.

Hi all. I listened to the recent webinar and there are some aspects that I just wanted to clarify in respect of the funding for the DFS, if anyone is able to assist (and thanks in advance). My queries are:

1) MR said the DFS would cost $ 4 to 5 million. Is this the overall cost of the DFS i.e. inc back costs, or only the costs to be incurred from hereon?

2) If the DFC are going to fund only 50% of the DFS costs, then what is the actual amount of the grant that Bres will receive from the DFC? Bres have spoken about receiving $4.5 million or "up to" $4.5 million from the DFC, but this would represent 100% of the DFS cost, not 50%?

Fair enough chaps - I was just having a little joke. Time to look forward to Queensland, and hopefully some much needed exploration success.

Imagine if we had put AJ on performance related pay (based on widths and grades), how much might we have saved?

Imo, the issue remains one of "time" and this factor will override any short term technicals that run contrary to it. For example, no rally will be able to sustain itself, or hold at a higher level, whilst there is this hiatus over Anza. Nothing is happening on any of the other projects either, which will generate sustained buying.

If the stock rallied tomorrow, for example, some might jump aboard for a short term swing trade, but eventually they will jump back off because they know that without any positive newsflow to sustain any move up, it will just as likely come back down and they will lose those gains.

You have to go back 3 years for when OMI last traded at these levels. Looking at the key levels then (although they are probably of marginal influence now, but the only reference point we have on the chart). I would say 3.5p was a key level back then, and if it doesn't hold, then 2.5p looks like the next key level to me from back then.

Again, what will ultimately determine whether or not support levels are breached in the longer term are not the technical indicators, but the more fundamental issue of "time". The longer this JV situation takes to resolve, the more likely it is that, starved of vital newsflow, which is the lifeblood of any AIM junior, the share price will suffer. "Time" is money in the markets, and having your money in a dead share represents an opportunity cost, as well as a complete waste of that time.

So I don't think people can be criticised for bailing out given the woeful webinars, which offered little clarity or hope of a positive and timely outcome, and probably did more harm than good to sentiment and nerves. I don't think BG could have put on a worse performance, even if he had tried, and seemed very unfazed by it all. LC was (marginally) better though, in that he seemed to show more 'oomph' at times. Hopefully, the next time they do a webinar, they will do much better and show a sense of positive direction. But I finish where I started, how much "time" are they going to take? All imo and dyor

Chart is looking good imo. I was hoping for a close at or above 7.3p today, and pleased to see that's where we closed. Especially as by the time we open on Monday, NHE will confirm that it too is now fully funded. (And knowing NHE, having placed rather than farmed out, they will undoubtedly want to make it a forward looking and bullish update, by making reference to securing the Rig and drilling in Q3.)

Personally, I wouldn't mind a few days trading before we get the actual Rig RNS. Having cleared a lot of resistance at this level, I believe the share price will rise anyway from Monday, on firm expectation and anticipation that as both companies are now fully funded, the Sofori Rig RNS is just a matter of days away. And i'd be happy for the RNS Rocket to be launched from a higher level. All imo and GLA

Decent buys coming in and clearing more of the resistance at this level. Hopefully, today's trading will vacuum the rest, and a decent close will set us up nicely for the next push up (breakout) in this nascent and developing uptrend.

The problem is that OMI don't want to form this JV company with the majors, and have all the licences transferred into it, if the majors no longer want to commit to Anza. And if the majors want to sell, either to a third party or to OMI, then again, the formation of the JV company is pointless. So OMI should be pushing the majors to make a decision about what they want to do. The problem is, if the majors aren't ready to decide or in no hurry, and OMI are pushing them, the majors can proceed with the JV company and slow down that process, which process will also involve the Columbian authorities. Then AFTER the JV company is formed, the majors can keep the project in care and maintenance for another 12 months.

Therefore, it is far from clear whether it is in OMI's interests to push the majors, and thereby push itself into this kind of situation, which if they do, will mean no exploration at Anza for 18 months? All imo