Member Info for MickR

HSBC Global Custody 59,462,267 10.22%
James Finn 38,312,722 6.58%
John Teeling 38,192,755 6.56%
Interactive Investor Services Nominees Limited 34,142,540 5.87%
Roy Nominees Limited 33,789,800 5.81%
David Horgan 21,950,888 3.77%
SVS (Nominees) Limited 20,267,329 3.48%
Hargreaves Lansdown (Nominees Limited) 19,208,932 3.30%

Shares in issue: 581,844,829 - Last updated 13th March 2018 Percentage of Shares not in public hands: 16.91% - 13th March 2018 Last updated 13th March 2018

From the RNS of 30th May 2018:

The Group had a cash balance of £433,680 at the balance sheet date. Cashflow projections prepared by the directors indicate that the funds available are sufficient to meet the obligations of the Group for a period of at least twelve months from the date of approval of these financial statements.

So funded until May 2019.

Plus ratification will be major catalyst and as you saw on Monday, it will be NT to buy anything decent.

Research on Ghana oil boom: https://www.cnbc.com/2018/03/16/ghana-is-about-to-have-an-oil-boom.html

DYOR

See this previous post by Bridges on 18 May 2018:

"Due to the rise in Oil SP, my valuation of clon has increased to 15p on ratification. I am surprised that this share has not been attracting more attention. The signals are there that this deal with the Ghanaian Gov will be closed soon and Clon is sitting on a sweet block in shallow water (less cost).

NB you may think that my valuation is high but consider this:
Not many Shares in issue.
Kosmos who own c. 24% of the jubilee field, very close to our block, their share price today is USD 7.52 and climbing. Market cap nearly 3 Billion

CLON is totally undervalued, on ratification. Today's 2m market cap. Clon also owns 60% of the Ghana Tano 2A Block. Share price not even a penny. "

I expect ratification by Cabinet and Parliament to be expedited now that legal proceedings have been withdrawn and Ghana is about to auction 6 further exploration blocks.

Clontarf had been written off by the market and hence the current market valuation is poor with a 3m market cap. Previous long term holders were also put off by the 30th May 2018 results and most if not all sold out as they thought the company is a gonner.

Ghana is already a serious oil producer and is about to have an oil boom with the super major Exxon having been recently awarded a block.

Our block is in shallow water and next to the flagship Jubilee oil block operated by Tullow.

Clontarf is about to come back massively I think. The company does not issue shares like confetti, the previous cash call was in 2016.

See the posting history of Bridges to get an idea of where this could go on ratification and JV/farm out which is looking like it may happen in 2018!

It seems that SMS will be bidding for Kantar which WPP is said to be considering selling...
https://www.campaignlive.co.uk/article/wpp-investor-pressure-sell-kantar-open-door-sorrell-acquisition-spree/1466488

Unlike AIQ Which was a shell, S4 Capital/DERR is backed by a solid name in the business community. Who knows where this could go.

The lock in arrangements are pretty clear to me, most of the new shares coming into the market on the 28th will be locked up for 12 to 24months so I can see this share rising remarkably quickly on the small free float.

It seems that people have overlooked the lock up arrangements , see E.5 of the Prospectus which provides as follows

The Proposed Directors, the Affiliate Subscribers and the MediaMonks Subscribers have entered into lock-in arrangements in respect of the Ordinary Shares they will receive on Admission for a period of 24 months from Admission in the case of Sir Martin Sorrell, the Affiliate Subscribers and the MediaMonks Subscribers and for a period of 12 months from Admission in the case of the other Proposed Directors.

The only shares that can be traded are those currently issued, a tiny free float of 0.98%. Hold on to your golden tickets

Good insight in this interview with SMS published yesterday...he is still a top 10 shareholder in WPP

https://adage.com/article/agencies/martin-sorrell-burning-man-s4-capital-wpp/314930/

I bought in yesterday afternoon and am a firm believer in the magic of SMS. He took WPP from a million pound company to a 15 billion pound behemoth.

There will be a 10:1 consolidation on admission on 28th September, so the current 18p share price will become 180p as your current shareholding will reduce by a tenth.

Bring on the fireworks...the sentiment and speculation will drive this much higher next 2 weeks before the RTO is confirmed on 27 September.

I think it was a buy as I could not buy even £500 for an hour but could sell all my 5m shares...I am now holding 6m shares and can almost smell that news is around the corner....

This is exactly what I feared, hence I sold out this morning at 12.7 having bought in at 5p.

I will be back when it is less volatile.

Whilst it is good to see the re rate, we should not get too carried away with comparisons to Continental Gold IMO. Continental Gold project is approx. 60,000HA and far advanced than ours which is 10,000HA in size, i.e. Continental Gold is 6 times our area and far more developed than us.

Continental Gold has a market cap of approx. 460m pounds and if a fair market value of OMI would be one sixth of that, it would be 77m GBP. If we get a free carry of say 20% of that, I would say our market cap currently at 10p per share is at fair value or a bit ahead of itself.

I do not wish people to get spiked here as spikes are detrimental to genuine holders as the share price falls as rapidly as it spikes.

DYOR

Hope everyone enjoyed the ride today.

The market cap is £15m at close today.

I held 1.1m shares here but decided to de risk and sell up due to no further clarification coming from the BOD about whether or not the major had walked away or not.

I hope it comes good and the major is still in talks despite the exclusivity having ended or there is a consortium being put together. I have decided to invest in another gold miner where a major has come onboard in what looks like a transformational deal for the company.

Good luck

It is a farm in agreement, as confirmed here
https://www.edisoninvestmentresearch.com/?ACT=18&ID=21970&LANG=

Newmont is also locked in from selling its shareholding for at least 4 months, as per yesterday’s RNS. Newmont spends more than $2m at Christmas parties, it is a sophisticated mining major with a 16bn dollar market cap, it does not enter into such farm in agreements lightly as we saw with GGP. This is the real deal. DYOR

Spike, that sell was from yesterday which explains why the price fell yesterday afternoon. It has been bought by the market and now tha it is out of the way, onwards and upwards which is why the price is up today.

If you do your research, OMI’s peers are continental gold which a market cap of £350m and SOLG with a market cap of £485m. OMI market cap less than £9m. continental gold had the first mover advantage in Colombia and its project there is in a similar area as OMIs AnZa, and it is smaller. SOLG’s Cascabel project is on the same fault line as OMI’s.

SOLG has sImilar challenges to OMi and it had a SP of 1p and the market had written it off, look what it did. A similar story is unfolding here IMO.

The Newmont farm in yesterday is transformational and as I said yesterday, not yet digested by the market.

Even at 50p, the market cap would be less than £90m. As I said previously, do not be surprised if this goes to 30 bag. I am not a ramper, just a believer. 10 bag on last Fridays close would be 18p or a market cap of under £30m.

DYOR and good luck, whether you are a holder or not.

I have put a sell order for 15p which locks in my shares until tomorrow. See you then.

This is all pocket change to Newmont...I hear they spend millions of dollars on their Christmas parties. I expect them to be buying more at 20p...they are barred from buying on the open market. DYOR, see yesterday's Newmont announcement.

Shares issued approx 150m...10p would only make market cap 15m quid....20p would be 30m quid....I did say I expect a PYC/SOLG style 30 bagger here IMO....

Eyeguy,

Good find. Newmont are hungry for this region in Colombia it seems and OMI is significantly undervalued IMO.

Apparently Newmont wanted more in Continental but were restricted to 19.9%
https://seekingalpha.com/article/4201053-continental-gold-rejected-funds-newmont-2017