Member Info for MisterPositive

shelly, yes, its hilarious....I have clarified few points on GGP board. there will always be new trolls...AIM is full of them. Lol

sicilian-kan. few points that require clarification. Newmont did not buy just into OMI's Anza gold deposit, but into 3 high grade gold rich deposits on the mid-cauca belt in Colombia. Anza already has environmetal permits with 2 operating gypsum mines. Gold discoveries came after and grades keep getting better n better from only 10% of Anza deposit drilled to date. Buritica high grade gold mine goes into production early 2020 where Newmont also were restricted to 19.9% stake and will be Colombia's biggest gold mining operation. Anza is only 50km south of Buritica on the very same Mid-cauca gold belt with results from Anza to-date that seem to mirror same geology. Newmont not funding Buritica to production but are funding OMI to production with free carry and $34m spending commitment without OMI spending a dime on Anza. Newmont had similar deal terms and equity % restrictions imposed on them by Miramar mining for first 4 years....but with first refusal, Newmont bought Miramar for $1.5B within 23 months. your reference to LaColosa.....locals voted against permit due to Anglo Ashanti bad human rights track record in Africa that local folks rejected Anglo Ashanti coming to town. We are talking Newmont here...best in class. Colombian Govt is promoting foreign investment in Colombia after doing peace deal with the rebels. Newmont waited for that before entering into not 1 but 3 high grade gold projects in just 18 months. They are thorough in their due diligence. They know how to build value and know lot more than any of us. Just clarifying your comments further as you conveniently left key details out.

80p should come in time though if you stick around for a while. won't happen overnight. mind you with only 150m shares about, 80p would value Omi at only £120m MCap. Ggp got to £80-90m MCap with Newmont surveying EG for 6 months...while company was ramping EG as find of the decade...not to mention the various tweets, nods and winks...

johnny, Newmont do not walk away from high grade gold deposits....in fact they cannot get enough of the rich mid-cauca gold belt in Columbia with 3 gold projects already under their belt. In all cases Newmont were restricted to 19.9% or they would have swallowed Anza on the cheap. Miramar mining imposed same restrictions for first 4 years. ..Newmont bought them out for $1.5B in 23 months.

professor, yep Newmont would certainly be aware of this and so would Pablo Marcet (waymar ceo) now at Barrick Gold. Tussle between world no.1 and no.2 gold producers worldwide would get more intense as both want to acquire high gade gold deposits during next gold bull run.

johnny, you are talking about Newmont taking Anza to production with 80/20 ownership after phase3 with OMI owning 20% of a producing gold mine. OMI has free carry all the way to production.

well Newmont committed to spend $34m + $2m cash for shares...valued around 24-25p... Add 100% premium. OMI board would be tempted with 50p as first offer. Bidding war with another Gold major could push it towards 80-100p mark easily with such low shares in issue. Keeping in mind Gold price is in an up cycle now. So any further gold ounces would increase in value considerably with 1/3 of market participants recently surveyed expect gold to be above $1500 by end of 2019.

Johnny, yes, they need to start drilling soon. If Newmont get further evidence of high grade gold, then nothing stopping them in making an early offer in 50-60p range. Price would already have risen before that in anticipation. Newmont can take Anza to production early under their ownership. GGP rose to around £90m MCap in anticipation of Newmont coming on board after the 6 month exploration period at EG. For that matter nothing stopping any other Gold major coming in with an opportunistic offer, like. .. Newcrest, Kinross, BHP, Barrick...but they would have to get past Newmont first refusal...probably the main reason Newmont secured 19.9% giving them a head start, in my view. Newmont been buying up the gold rich mid-cauca belt with a firm footprint in Columbia after Peru.

even OMI company directors have swapped a decent % of salaries for shares. why would they be overweight on shares? if they did not see huge upside

SL, coz some cluless chicken muppets floated the idea of OMI going bust coz of Uruguay re structuring. Guess what all alive and well here...hey even Uryguay creditors want exposure to Anza high grade gold deposit and happy to be paid in OMI shares.

deal alone should value OMI around 24p collectively. 5.4p Newmont paid + 18p ($34m spending commitment). + Further upside from Anza driling in 2019. IMHO.

MCap went over $19 Billion on Friday...sitting just under 19 Billion now. Newmont can buyout OMI anytime with lunch money. This notion of Newmont selling after 4 month 1 day is utter nonsense floated by chicken Nugget...repeatedly.....and he knows it also. likes to wind people up. Newmont bought 19.9% stake in OMI and signed US $34m strategic deal with OMI within 2 weeks of their investment deal in Lyra gold project owned by also Canadian listed Miranda Gold. Newmont made 15-20 site visits and thorough due diligence before committing $34m deal with OMI. while at GGP, they tested Ernest Giles for 6 months + 3 months extension before walking away. Lock in periods are standard practice in Canada. Newmont had 12 month lock in period with Continental Gold for their same 19.9% stake. After 20 months on, Newmont is still at Buritca and invested in Continental Gold.

Johnny, ..come on....no body knew about the 10m shares as Loryser only negotiated and agreed with creditors just recently, probably soon after the AGM in my opinion. Creditors obviously happy to take OMI shares in lieu.....they can also see the Massive Upside from here in 2019 and beyond.

also 10m shares is only 6% dilution in relation to total shares....and already priced in. In fact 56% drop from 12.5p seems way overdone due to uncertainty caused by Uruguay restructuring. Now that is addressed, OMI and Newmont can resume drilling rest of the high grade gold targets at Anza.

Johnny, Court approval is a formality, we all know that, as the whole Uruguay restructuring deal has been processed via Court. About 70% of the creditors by value have already agreed to the payment plan agreement by 17 Dec....probably even higher by now. They only needed a simple 51% majority....so already way higher than that. Loryser Creditors are happy to take 10m OMI shares in lieu of debt....speaks volumes. in parallel, Loryser is in talks with 'Third parties' for Uruguay asset sales and will manage the whole process.

Chicken,

NEWMONT are spending +$34m CASH in total at ANZA, without OMI spending a dime.

chicken Nugget,

using your logic...

in that case, should GGP be valued at 0 ?

as NEWMONT walked away, without paying at dime...

you are so clueless and dumb...its not even funny. what an absolute chicken...

Closed $1272.50 after touching $1273.90 We could see Gold breaking past $1350 in Jan 2019 while Dow drops below 20,000. Gold set for a spectacular Bull run in 2019 with $1500 forecast for end of 2019. Newmont paying $250,000 cash quarterly and $30m spending commitment at Anza, 2019 looks set for an explosive rally for OMI. Merry Christmas All.

Newmont only walk away when company like Ggp start touting things like....Ernest Giles as find of the decade...??? And it turns out to be a dud...