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Thanks for the response Jof, Have you any thoughts on what to expect going forward? Wasn’t sure whether to sell on Fri, Just seems strange they’ve released results when they aren’t all the way through, They typically release news like that on a site find, Something doesn’t seem right with what they’ve done, Cheers,
Himself that is!
Hello all, Can anyone please update me, The RNS stated they have drill into Nanu, Now information on twitter is stating they are continuing into Nanu 4 and 5??? WTF is going on? Makes me sick the so called self proclaimed king of oil on Twitter has deleted all rmp tweets, this is another co he ramped then distanced holimself from! Regards,
Hi all, Congrats all who held, AAOG will come good once Djeno is realised, Just a query, how do you subscribe to the Red Hot Penny Shares news letter these days? I used to receive the publication through Fleet Street, but cannot find it, Thanks in advance, Regards, Mike
Hi russukarian, Regards to Sands, are the adjacent fields producing at reasonable natural flow rates? Or is additional tech. required to be deployed? With that in mind, are there any negatives associated with this prospect? I think the general consensus here we’ll find oil? Regards, McG
Thanks for the reply boom.boom, I’ve only started looking at RMP, and looking for an entry this week, was just a little worried regards to the flow rate being as low as 600ish, would expect well over 1000, but like you say, 1972, no 3D. It’s AIM and a little bit of bad news and the share price will be trashed. That said, 400 mill. boe, would expect good flow rates, so hopefully the porosity and permeability of the reservoir rock will be good, leading to good natural flow rates.......... taking rmp to the moon! I hope! Regards, McG
boom.boom Although not the sweat spot, 625 bopd is still relatively small, especially for a reservoir containing circa 400 mill. boe. What was the gross/ net thickness of the oil reservoir? Also, what was the pressure? Regards, McG
AGEOS,
Thanks for the reply and good to see you involved on the OMI billboard,
I was in very early on during the Las Calandrias discovery and continued investing into the Turkey, Hot Maden find. I was disappointed with the deal as I felt it was THE stand out finds of the year. I felt they had let the shareholders down by selling at that price! Anyhow I made a really good profit and would happily invest in the Ex Mariana management team again.
Regards to your predictive resources on Hot Maden, you were correct based on the drill results - circa > 3 Million oz au.
So with that in mind, if you suggest there is a 500k oz au resource based on current exploratory drill results, I would happily agree based on previous accurate estimates.
I believe this discovery is going to be large with a number of different deposit types. Colombia has a long history of producing v. large gold mines and If there is a porphyry discovery, the license is going to be very well endowed in gold.
The current drill plan and cross sectional diagrams suggest the veins are open across strike and at depth, therefore with the levels of gold identified in the drill cores, this is going to be a mine.
In addition, based on the diagrams, looks like open pit mining.
Good luck all,
Regards,
McG
$200- $300 on T/O All the best, Regards,
Hello Silverlight, Typically the price in the ground will increased as drilling continues and the resource goes from inferred - indicated - measured, I’m sure, analyst put a price as $50 per inferred oz au gold and up to $150 per indicated, This is typically adjusted dependent on the geology, extraction method, country risk, access to infrastructure, potential CAPEX etc... Imagine approx. 3- 5 million oz au indicated, with local infrastructure and a reasonable extraction cost, Easily >£1 per share, Regards and good luck, McG,
AGEOS/INTHENO,
Did you contribute to the Mariana Resources chat when they were drilling in Turkey? your technical input seems familiar,
With that in mind, the company has an inferred resource circa 200k oz au through exploratory drilling, with a market cap of approx £8mill. you can infer the market valuing each oz in the ground at approx £40/ oz au (inferred),
As this is completely an under-explored license, you can see the potential from this, as typically the followup drill campaign will be approx. 10000- 15000m,
I agree with the region potentially hosting multiple VMS deposits, with that in mind how would you explain the presentation identifying the La Cejita area potentially containing Porphyry/ Vein targets???
It would be very interesting if the license contained both, as VMS deposits are typically found in multiples and porphyry's a large au bearing structures,
Who knows where this is going, but if it does host multi-million oz au deposits, based on a market value of £40/ oz au (inferred), it doesn't take much to realise the potential here,
All the best,
Good luck,
McGoogle
Thanks for all the info/ help folks, That’s me just bought in, Good luck all, I think Colombia is going to be v. interesting, Best regards, McGoogle
What is FOC?
Are they cash positioned for drilling? Or do they need to raise funds? Other than the $2 mill Newmount are paying.
What’s the current cash position?
Thanks for the response, Is there any estimate time frames/ target dates for drilling? Cheers,
Hello all,
Just started reviewing the company, very interesting prospects in Colombia,
Few queries if anyone can help;
When is Newmount/ OMI looking to re-commence drilling?
The Newmount deal is excellent, have they identified where the next drilling targets are? this will be key to drive the price, if they locate a porphyry,
Additionally, at the bottom of there report/ technical section, it suggests a geologic model of the current drill results being 1.6 - 2.3Mt at 3.2 - 3.7g/t Au approx 200,000 Oz Au, is this correct?
With this in mind if Newmount commence a large drill plan, we could be talking many millions oz au if the other prospects are gold bearing,
Whats the story with Uruguay, I see the creditors have taken OMI shares, what is the plan going forward? and what is required to get the existing Plant up and running?
Any advice would be much appreciated, trying to understand the history and any info on drill plans going forward???
Apologies if anything is repeated, I was in heavy on Mariana Resources yrs ago and this company has the potential to do the same,
Best regards and all the very best,
McGoogle
Gents,
Looks like it is breaking its most recent highs....
What is the cash position of the company? quickly looked at the company presentation from Oct last yr and it states an appraisal well on Barryroe will cost circa $5 million.
Quick response will be much appreciated,
Cheers,
Can anyone give an overview of the current cash position? Is there going to be another equity issue in the short term? Been in RGM years ago, looks like the small cap mining companies including RGM may re-rate similar to 2009/ 10. Good luck all, Regards,