Member Info for Legalwolf

Close to breaking out folks from a multi year downtrending channel. Could this be "THE" breakout that finally starts an uptrend? Q4 tends to be the seasonally strongest period of the year in the market and so a good time to be releasing your major inflection point newsflow such as the JORC and the DFS. In that sense, the delay in getting to these milestone points might actually work out in our favour.

We are going to be spoilt rotten with newsflow here between now and year end:

1) Continued insti buying.

2) Beaver Creek resulting in more insti buying.

3) Next set of results at PEPAS - almost guaranteed some more world class holes.

4) El Pantano maiden drilling campaign starts in October.

5) Soil sampling assay results from El Cedro.

6) Resumption of exploration drilling to find the next Pepas/Pepas North.

7) MRE at Pepas.

8) MRE at APTA.

9) Corporate updates - JV, funding, etc.

10) Webinars - sure we will be hearing from a purring BG a few times at least.

And no doubt a few other items which i've missed out. But it's an incredible program of newsflow coming up, during a run up in gold and during what is the seasonally strongest quarter in the markets. Already at 20p before, with huge buying coming in and more to come in next week.

I think we might well have started a move up that will surpass the 2020 high and not look back. Strap in folks and enjoy the ride. GLA

That is highly significant. No wonder the instis have been loading up. That theory of yours from a few months ago Doc about deliberately stalling comes to mind.....

So are we saying they have not drilled the second hole, but have kept the Rig in situ and have decided to drill deeper with the first hole? If so, surely that should have been RNS as it contradicts the previous RNS?

"Exclusive Institutional Conferences for Growth-Oriented Explorers, Developers & Producers"

One more day to accumulate folks before Beaver Creek, and possibly a RNS on Monday to light the fuse!

We are still in accumulation territory and haven't even broken out! Anyone buying below 25p will be locked into a support zone and can then just sit back and watch it all play out above that level in the coming weeks and months.

For me, it's very very simple. Ask yourself whether you want to sell before or after one or more of the following potential share price catalysts:

1) Beaver Creek.

2) MRE at PEPAS.

3) MRE at APTA.

4) Drilling results at El P.

5) Soil sampling results at El C.

6) Potential corporate developments (JV, funding, etc).

7) The seasonally strongest months of the year Q4/Q1.

8) Before gold hits 4000 and/or tops for this cycle.

9) Before instis have even finished accumulating OMI!

10) Before more brokers and analysts inevitably start coverage of the stock.

11) Before entry into the GDXJ and all the added exposure that will bring with it.

12) [enter further catalyst here not covered above]

13) [enter further catalyst here not covered above]

14) [enter further catalyst here not covered above]

It's not even a very difficult assessment at 20p.

$15 million CAPEX is a ridiculously easy sum for OMI to raise. There will be all sorts of funders queuing up already to provide it, hence BG's reference to "greedy" and "nefarious". We could also make the payment from gold sales - as someone said, it would only take one Quarter to pay it back.

The ridiculously low CAPEX and high margin IS what makes OMI a compelling proposition. With upside added from extra ounces found at PEPAS, and if you're a shareholder, from the other projects. PEPAS to then fund the other projects, and allow OMI to grow very quickly into a midcap with a compelling exploration portfolio.

It's impossible to predict, as there are too many imponderables. All we can do is to make some logical deductions/predictions, on the basis that "if A or B happens then X or Y is likely to follow". A and B will include things like drilling results, JVs, support and resistance levels, etc.

So far, purely looking at the chart, this current move up is somewhat similar to the 2020 one. So yes, we could shoot up towards 45p again. But a key difference now is the shareholder base - in 2020 it was more retail, now it is more instis. That ought to make for a steadier climb up, rather than pump and dump spike action. I would imagine that the instis are in as "investors" for the longer term, and not to short term trade a penny stock! Remember, we are still being accumulated by instis. More will arrive next week and thereafter!!! So we are in INSTI ACCUMULATION/BUYING ZONE still, not selling/profit taking zone!

Of course, all that said, I'm not going to complain if we do shoot up towards 45p in a matter of weeks, but my preference would be for it to be a much slower move, with some pullbacks (i.e. buy the dip opps) along the way.

If, or when we get these pullbacks, and they are supported by the instis, you will then be able to make price projections more comfortably and assuredly.

For example, if this consolidates at 30p, then 45p is only a 50% move from that level. If this consolidates in the 40s, then you will be more confident of seeing the 50s.

So the key takeaway here for those of us looking for larger gains from a bigger move up, is that we need these pullbacks/consolidation. These are to be cheered, not feared (even though you will have to endure trolling and de-ramping when they happen).

They will be back when we have the next pullback - predicting all sorts of doom and gloom. My filter will remain in place.

Thanks folks - let's see what happens with OMI over the coming weeks and months. I'd like to see how the story plays out, esp with the other projects. The current drilling at PEPAS will continue to underpin the current rise, but OMI also has a lot of potential catalysts coming up, anyone of which could lead to strong share price growth. Q4 also tends to be the strongest quarter of the year - which will co-incide with a lot of key milestones due at OMI.

"WaterBorne Capital's involvement gives us confidence that a first-class funding solution can be structured, locked down and implemented once the DFS is finalised."

Looks like everything is shaping up nicely and on schedule for this major inflection point that Bres is approaching.

Yes, the OMI story is in its very early chapters. Even on the fundamentals, there are LOTS of chapters ahead. People talk about price targets, but there is also a different way of looking at it, which is a time target i.e. letting the story/fundamentals play out. Do you want to hang around for El Pantano? Do you want to see how large the MRE at PEPAS comes in at? Do you want to wait for the MRE at APTA? Do you want to wait to see what happens to El Cedro once the soil sampling results are in? Do you want to see if a major funder comes in to take on PEPAS? Do you want to wait to see if OMI finds more PEPAS's, or the feeder source? Do you want to wait to see how long this bull market runs for gold? Do you want to see what the share price will do during Q4 - the seasonally strongest quarter of the year.

There is SO much ahead of us, that I can't fathom why anyone would let their cheaply acquired shares go so cheaply. You won't get them back. They are prized possessions and the instis will gladly take them up. There will be more instis on the hunt for them in the weeks and months ahead. We haven't even had Beaver Creek!!!

Would you like a "timetable" with that? 😂😂😂

Some great discussion today, and a sign of a company on the way up is to see all the newer contributors on here. It is actually refreshing to hear from newbies or people who have been invested but maybe not posted as much. Shows the growing interest in the company.

Everyone will have their own approach to buying and selling. As I always say, this is not an exercise in synchronised swimming where we all have to do the same thing. For some it will be right to sell early into the move, and for others, that will be totally the wrong approach, as they look to hold for the bigger gains. Lots of factors come into play here, and they are all very individual. Your personality, risk tolerance, portfolio situation, your assessment of OMI's prospects, market analysis, macro analyisis, technical analysis, etc, etc.

I happen to firmly believe that this move is in its infancy. So I intend to sit on my hands and wait for what I think will be the really big gains to come. I've given various reasons of my own for why I hold this strong belief. But for a short term trader, this is the wrong approach, and they should exit based on a shorter term target. Just know which lane you're in and stick to it, and don't let others influence you as they might have a completely different strategy and time horizon to yours. All imo and GLA

The technicals are also looking great. Would welcome a view from chartists, but looks very much like we are still in the cup formation (i.e. the base) of a very large Cup and Handle pattern. If so, then we still have the Handle part to form, which Handle looks like it will form above 20p now. Which in turn means we still have the breakout to come into a new uptrend.

Scary to think just how high this could go in this bull run over the coming weeks and months?

It's all sells at the moment. Slowly taking out the liquidity at 5p. Only a matter of short time before bid falls into the 4s.

Timetable😂

You think you’re going to get a timetable? 😆

That’s a difficult one. I never thought OMI would get this huge institutional buying power coming in at these prices. Together with the non stop newsflow between now and year end, I do think OMI has a long way to go. You then have POG heading to 4000. So the perfect alignment of technicals, fundamentals AND macros. I think OMI could take out its high of 47p on this run up.

There have been a few wild moves in this bull market already!