Member Info for MasksNewNorm

From Newmont https://www.newmont.com/investors/news-release/news-details/2020/Newmont-and-Agnico-Eagle-Form-Exploration-Joint-Venture-in-Colombia/default.aspx

Fun watching them isn’t it. Hungry for entry re-entry here.

Newmonts along with Agnico's cash committed to operations plus OMI’s cash in the bank exceed the current cap of £35m and OMI is due another 4m from the majors.

The top isn’t in yet look at what they have and with who.

21m loan based on a DFS by the end of the year will 3-4m be enough to achieve this. Seems a tall order.

So for example for OMI, Newmont and agnico’s 30m cash for operations and supplying an 80 person strong team plus all the best equipment and tech on site plus payments to OMI plus OMI?s cash in the bank exceed its current market cap of 35m.

Cora can’t compare with that but the diff ecr is it’s shareholders will be diluted in order to continue funding operations. A major or 2 is needed in this game as GGP has with Newcrest and OMI has with Newmont and Agnico.

That’s not OMI and it is visible gold in a chip sample.

Come back when world majors are funding your ops. ;)

Newmont and Agnico are funding 30m and paying OMI cash to operate their asset plus OMI has 6m on the balance sheet which is due to be 10m compliments of the majors.

So as the cap stands right now nothing but the majors cash and OMI’s cash in the bank is priced in to the market cap here.

3-4m is peanuts if they have to fund all operations themselves it won’t go very far and they have to supply and maintain all equipment How large is the team on the ground?

Brad is confident they are sitting on a tier 1 resource. He has first hand knowledge of core sampling and is working with the funders Newmont and Agnico.

They have many cores stacked up ready for results to flow through so let’s see what they announce.

They are happy enough as Brad says to leave one rig behind at APTA for infill drilling and to move the other 4/5 rigs to start drilling elsewhere.

This speaks volumes they want to spread out and get an understanding of the wider resource.

Newmont and Agnico are only interested in large tier 1 discoveries and Anza is pointing in that direction.

£35m and many samples in the pipe being prepared for the market.

The potential is what you invest in and now we have had confirmation signs the majors are happy I think we are in a strong position so stop talking out of your love hole

CORA 1.35m working capital and 1.21m debt.

Funding required.

I was wondering if there is a major funding operations here otherwise the balance sheet is on fumes

She wants in and I don’t blame her. Look at the fundamentals and at £35m cap. Incredible value.

Yes yes mapp we know your MO you want the price down bit you like the stock. Who doesn’t

Mapp thanks for highlighting your MO we already knew.

Clueless

Yes that’s neighbouring Buritica which was sold at 3.6mt. In production since last Dec. Newmont we’re bought out of their 20% of Continental who were the operators.

The resource is multiples of 3.6mt now and keep growing. Over 10mt last count. Geologists expect multiples of that.

Anza tends to be more politically stable

I expect Agnico will take a 19.99% stake in OMI as a major holder. That would square them up with Newmonts Major holding of the company besides the Anza jv deal and allow them to capitalise should Newmont bid for the whole project.

OMI having a second project JV on the tin mine shows they are not solely reliant on Anza and hence the majors again solidifying their independence and shielding of a buyout.

Strong cash balance to avert OMI’s Anza being low hanging fruit.

OMI maintain the majority interest of Anza currently 100% reducing to 49% in phase 2 when Newmont and Agnico share 51% until the final phase.

The resource is funded and proven up by Newmont and Agnico. No cost to OMI who also receive cash payments.

If OMI are not bought out they maintain 25% of production with 37.5% each for the majors.

Any buyout will be based on the size of the resource at the point of any offers and if this is before phase 2 it will be based on 100% dropping down to 49% in phase 2.

Phase 2 carry over begins sept 21

Mapp do some research you ain’t got a clue.