RE: Risk or reward?4 Sep 2024 21:47
Seingred you know as well as I do that it doesn't tell the whole story for junior miners, who spend most of their lives losing money. It's the nature of the beast.
Other mining companies have huge mcaps based on potential, hype and a few good results. They aren't producing. The balance sheet is negative every year. Still multiples of Orosur mcap.
Breaktwister seems to have went into his hole after suffering a meltdown and I hope they haven't lost too many hairs..don't really agree with the delivery and unhinged delivery but alot of what they say re legal stuff is actually how I interpret it.
Omi have a really strong hand and it's quite clear what the phase 2 buy-in entails, but I believe Omi worked with the majors as opposed to break's cut off your nose to spite your face tactic.
There is a clause in the agreement that states Newmont can delay phase 2 buy in for two years for a redacted fee. Is this what is happening just now? Though I confess payment should be received 30 days after a signalling this was happening so perhaps a red herring, perhaps relevant.
The new company never did get formed but Omi would have went to 51/49 as soon majors pulled out. Omi would have also had the right to dilute the majors out. This option Brad in webinar stated he wasn't going to do. Why is that?
Things here are not black and white, they are complicated but all will be revealed. Brad was very bullish regarding plans for Apta, Pepas and the south at the mining conference. Almost as if they knew something the ordinary punter does not.
End of day Newmont are our major shareholder and what they make in a couple of days, especially at this gold price can keep the lights on at Omi for a long time yet.
Question is will they dig out a bit of loose change for little old Omi? That's like winning the lotto for a junior like us.