Member Info for MajorThomas1

They know the board won't entertain anything that undervalue the company. Reabold are evidence of that.

They know the boards valuation from recent presentation where they put a risked NAV of 7.6p per share, around £107m, for Salene, Pensacola, cash and the shell carry.

Boom time

What price?

Here's what DELTS NOMAD and Broker said in their recent note.

Valuation: We have upgraded and revised our presentation of Deltic’s risked valuation to
focus on the three most advanced projects. For these we now show the valuations using
the same valuation quotient of $5/boe as in the success case. For the other earlier stage
projects, we have used $2/boe. The risked valuation across the portfolio for Deltic is now
£192m or 13.7p/share. This compares with 9.8p/share previously. Our success case
valuation for the three most advanced projects remains unchanged at 17.5p/share. The
risked valuation on this basis is £120m or 8.5p/share. The share price reflects a very
cautious view of valuation and stands at a c. 90% discount to our risked estimates.

Couldn't have timed it any better. Lol.

Bought DELT yesterday and other gas play IOG now wants to buy them out.

Now what's the DELT assets really worth. A lot more then the current MCAP that's for sure.

Agree Burt, not much not to like.

The recent upgrade on resources and GCoS upgrade at Selene made it a no brainer for me.

Looks like DELT are siting on some of the best licences in UKNS and will be ae to progress them over the next few years.

I for one definately believe DELT has a bright future.

The good work done with Shell on Selene resulting in P90 of 286 P50 of 629 P10 of 1,021 with a chance of success of 70%!

The ongoing work and expected firm well comitment on Pensacola.

The TCF potential and likely farm out on P2428.

It all adds up to some interesting months and years ahead. I got some yestersay at 1.1483p. I'm sure I won't regret it in the long term.

GLA
MT1

Yeah timeframe on the BFS seems wooly. 2020 gives a lot wriggle room. Hopefully sooner rather than later

Oh well dipped my toe. Only took 50K shares. See it goes and maybe increase once i get more of a feel for the company.

Got them for 8.1p

Let's see how it goes

Hi SR, glad it's not another ROSE!

I've watched CRUX interview with William Dawes from 14th October and the 19th December 121 Mining Investment presentation by Alexander Lemon. Also reviewed the last few financial reports and I am struggling to understand why the SP has floated between 7p and 9p with no real uplift.

I'm looking for a new micro cap opportunity and have been reading / researching MKA.

I cannot understand why this is still only a £8.3m MCAP. Looks like good asset, good deal with Talaxis, plenty cash, no dilution.

Am I missing something?

IMO the % returns here will far outstrip GGP in the long term. £5m MCAP is ridiculous. £90 to £100m is my target and with minimal dilution required I will retain most of that value. Other shares may end up with larger valuations going it alone but the dilution required to get to production will eventually eat up all there gains. Look at SXX for a point in case.

This is now on my likely long shots list, not my high risk / high reward long shot list.

Newmont don't need any more shares in OMI. They already have an agreement that will see them own 80% of Anzá.

I'm still holding and as positive as ever. Just can't be bothered reading / replying to some of the I'll informed, negative drivell that's been posted of late.

Yip, IMC news not good. But I don't think there will be much of a sell off. Price drop on low volume maybe. If there is I will look to top up again.

Karl, there's no chance of a JV with IMC in Uraguay. Were outta there. Good riddance too.

I emailed our CEO to get his point of view on the new Governor. Here is his take on it.

"Yes, we see it as positive. The nomination of mining and metallurgical engineer Jorge Jaramillo as secretary of mines is also very positive. We believe they are both good professionals who understand well the mining sector, so positive from a government / concessions perspective."

Vicjain, I will be happy with 15p this year, 30p the year after. Then who knows. Final target 50-60p maybe.

From today's mining journal

"New Antioquia governor backs mining."

"Anibal Gaviria, the new governor of Antioquia, Colombia, looks set to open a new chapter for mining development in the territory and remove the impasse seen during the administrations of the two previous governors."

The last governor had been refusing to sign new concessions or approve new dvelopments for the last 4 years. Fortunately he was replaced with the pro mining Governor Anibal Gaviria on the 1st of January. OMI now have pro mining local and national governments. Luckily we are fully funded and ready to go.

The article goes on to say. "The first term of Gaviria as governor and Jaramillo as mining secretary saw exploration interest in Antioquia grow rapidly, as they took advantage of rising metal prices, a policy of opening Colombia to mining investment by then president Alvaro Uribe and the delegated authority to award exploration concessions. The energy and enthusiasm for exploration in Antioquia dissipated under the subsequent governorships of Sergio Fajardo and Luis Perez, which saw concession applications pile up waiting to be signed by the governor while processing times for environmental permits increased substantially."

Brakes off now I think. Concessions granted, phase 2 drilling, Uraguay concluded.

Cigar anyone?

Will be the mining micro cap of 2020? I say yes and predict this will see 15p this year.

Webb's. I see your true colours shining through now you've topped up.

Anyway, I agree this should make us all rich. As I've said countless times before IMO it's a no brainer at this valuation.

Maybe I misinterpreted it but i read at as they were looking at share purchases in the context of preserving cash for the company.

Thanks for the updates from the CEO Bhargav. Sounds like potential shares for salary.

Not a fan of that myself. Sends the signal that company cannot balance it's books. Can't see why they would need to but I would much rather they raise a million or 2, pay the salaries and they then purchase, or not, existing shares on the open market.

Webb's, do you have any idea how long it would take a company the size of OMI to fund and develop Anza alone? You could take the 6 - 8 years Newmont will take and , double maybe even treble it.

Also have you any idea what your current shareholding would be worth if OMI had to fund this themselves through equity and debt? If they managed it it they would almost certainly never see 5p again as the future project value would be eaten up with share issuance along the way. If they tried and failed to fund it themselves they would be Worthless as they would go bust and someone else like Zijin would pick up Anza from the liquidators.

Be careful what you wish for. Newmont Goldcorp IS the main reason to invest here. If they walked away it WILL be disastrous for OMI, Anzá, you and me.