Member Info for Legalwolf

Well it does look like they might go for that sweetspot at PEPAS NORTH once they have finished in infill at PEPAS in October.

I tell you what, with drilling also commencing in El P, October/November is shaping up to be one heck of a period here. Then we have the MRE to come in December! In and amongst all this, we will also have the soil sampling results at El Cedro, and update re APTA. Corporate news could drop at any point as well.

I don't know about the share price (let's be honest, all initial projections any of us might have had about share price targets "back then" have simply been superceded by events since) but whatever happens to the share price, we are most certainly in for a SIMPLY INCREDIBLE & NON STOP period of newsflow between now and end of year (and maybe into the new year if Argentina assays take the usual length of time).

We said at the start of the year that this was a must hold for 2025. With the newsflow coming up here in Q4, it's going to be parabolic. I need to lie down again.

Options appear to be the way to go right now. Another share i'm big into (and is my second highest conviction position after OMI) is BRES. BRES is reaching a much awaited "critical inflection/re-rate point" (management's words, not mine) in the announcement of drilling results, JORC upgrade and DFS. Management awarded themselves options at 0.5p when the share price was trading at 3-4p.

Whilst management aren't as accountable or aligned to retail shareholders these days, when you have instis on board, the situation is likely to be very different. Can't see the likes of Dynamic or the other top institutions/HNW holders here allowing management to get away with any shafting.

But let's be honest, OMI has so much going for it that even a cheap sale by management would make us a LOT of money!

£200 million? I doubt anyone's going to pay that based on just a few holes, even in this bull market. I was more thinking a modest £25-50 million for an initial stake and then the usual JV terms allowing them to increase their stake with staged committments and milestones.

But this is all very premature until there's actual evidence of (high grade) gold in that dome (or is it pipe?) Nice to speculate though...

We should maybe compile an updated list, but try to keep it to our highest conviction bets. Ones that we think are near term prospects i.e. likely baggers within the next 4 months? Then update the list every 4 months or so.

I part agree with that. Yes, WSBN need to prove what they have in order to get the best deal, but the majors also have to act fast to secure the best projects. They don't have the luxury of waiting. Remember how quickly Newcrest moved when it came to GGP's holdings? I don't think it would cost GGP all that much to JV into WSBN in much the way that Newcrest did with GGP?

Thanks PFG and well done to you also on those two investments. OMI had/has a lot of warrants as well. Probably a lot more than BRES! As it is showing, on the right newsflow, they can be absorbed very quickly and don't necessarily halt momentum. Much depends on the quality and intentions of the holders. Not all are freeloaders/placing flippers. For example, you might expect RAB to use its warrants to increase their holdings or not act in a way which harms their investment here?

It would be good to get some awareness of BRES within the junior market. I don't often see it named all that often when punters give their share tips, or at least not as much as it ought to be when you look at the size of OC - the size of resource being one of the main drivers of 'the herd' for example. This is in contrast to darlings like GGP, COBR, OMI, HE1, WSBN, KEFI, EUA (to name but a few), many of whom are not built on the solid credentials that Bres appears to be. Hopefully this also changes when the JORC/DFS hits, or when BRES gets onto a daily/weekly mover leaderboard.

I'm selling a house, it doesn't come with a garage. Estate Agent tells me it will put a lot of buyers off from investing. Fast forward, I have queues of buyers outbidding each other for the house. The lack of a garage is no longer a question mark at all. And so it is with OMI - the instis have piled in regardless of management holdings. Is anyone seiously thinking that anyone is going to turn their noses away from the gold in the ground at PEPAS and elsewhere because of their perception around management holdings?

This issue only matters when there's doubt about the projects and the lack of management holdings adds to that doubt, as its seen as a sign of lack of conviction by management. IMHO, we don't have this problem and so this issue can be consigned to the history bin, next to "VIP floggers" (and other such).

They recently gave themselves 6% of the company through options, to add to their previous holdings. They will be fine as no doubt more performance related options will be granted. I said at the time that I thought their decision not to participate in the placing and allow more instis to do so was a really good strategic move (with my reasons). That's exactly how it has turned out.

As for news on Monday, on reflection, part of me hopes we don't get a RNS just yet. We are moving up without it and will continue to do so on momentum. So maybe the following week would be better, or during the next consolidation?

Nice one Ezhik. We will no doubt have to sit through a few more drops along the way, but with the newsflow coming up here and a strong POG, this should continue to motor on from here. I'm not saying it will happen for sure - how could anyone be so sure in the markets - but I think the way this has moved early, and the insti buying coming into the stock, we have every chance of taking out that 2020 high and not look back.

Me too KR - I find that most time I chase and especially if it's a stock that I don't know, I usually end up getting spiked. Trying to make it a rule now not to chase anything unless it makes a good pullback first and the selling hasn't taken over!

Thanks Jam - hoping my luck continues with Bres, which has the second highest weighting in my pf after OMI (but i'm still adding into Bres*). We are very close to a major breakout here, and with our major newsflow about to start landing, it's hard to see how we don't make that breakout. If or once we do breakout, that will represent an inflection point on the chart as well, and I am hoping that we will then see Bres go from tortoise to hare and into an uptrend. Right place, right time and all that.

*I had some buy orders in this week which never got filled even with the selling!

This week's candle has seemingly started the run up for 2025. Looks very similar to the weekly candle that started the move up in 2020, in terms of spread and volume. Price action often rhymes as they say!

Decent consolidation and bull flag formation. With gold doing well, this should pop on the next RNS - assuming it's positive. All very much still to play for here and will move quickly when it does.

Yes weaker hands selling is drying up and buying volume is coming back in - that's what is called a pause/pullback before the next push up. We now have our next level to add into.

We also need a changing of the guard at each level, with shares passing from weaker (mostly retail) into stickier (mostly insti and HNW) hands. There will be those who having sold, then have this need for validation by announcing their sells and about the wisdom of selling. What this really betrays is a mindset of self doubt about their selling, and the accompanying hope that by posting about it on here, it might encourage others to do the same and somehow vindicate them. Why these "selling sages" think OMI is not going to top at 20p, or at the start of its newsflow, or when gold is heading towards 4000, is beyond me - and probably beyond them as well!

Not saying it's going to be a 10 bagger, but keep an eye on BRES. About to enter it's inflection point in terms of newsflow.

To be honest, although less exciting, it's better for us holders in the longer run if we get some retracements/consolidations on the way. I'd prefer a staircase style move up, rather than a rocket being launched.

So I want to see some pauses/pullbacks in the 20s, 30s, 40s, 50s and so on. Believe me, they will act as cushions, including for your emotions!

Is this what you guys call a rally. A few crummy buys. I'd hate to see what a fall looks like. Most folk have seen and heard enough and with the price not budging from 5p and lots of placing overhang to clear, and no money for any drilling either, there's no incentive or fomo here.

To be very clear, 29p is not a target but simply the next level. I won't be selling at 29p either!

I got in there first Mr Zak😂