Member Info for MisterPositive

Bottom is here

Chicken, Difference is that OMI has drilled 71 holes to date and spent lot of $$$ and drilling effort to get there, before attracting Newmont. Feasibility report coming in Dec 2018. Project economics look robust. All mine & Environment permits in place at Anza. Lot more drilling still to come through and 5x bigger prospective target that shares same geology still to be drilled. OMI also got ex-BHP senior personnel on board. Man from Newmont likely on his way... Ggp has only drilled a few handful of holes. Mostly what Ggp have done is... MMI sampling and IP crap....you cannot establish a resource estimate from that. Feasibility report for Ggp looks to be 2 yrs away. You cannot attract majors simply on the back of MMI sampling and IP. Hence the muted response to Ggp RNS...simple.

£144 pound worth of Sell ? WTF.....bet you it's MMs own trade just to drop the Bid? But anybody who done their research, do NOT fall for their tricks.

MMs drop to spook few into selling....but never let you Buy at those prices. I have NEVER managed to buy ANY on any fake drops.

Most interesting thing to note is...ANZA feasibility seems to have been commissioned by OMI early (Dec 2018).

I thought the 'National Instrument' NI 43-101 compliant feasibility was to come later in Phase 3.

Something going on in the background ?

...may be a NEW Gold Major being lined up by Maxit Capital to come on board who could have requested it ?

OR

May be Newmont themselves pushing for it to wrap up an early deal ?

Confused.....but very excited.

Just an observation and my thoughts.

Got a feeling next RNS could have been delayed to coincide with his appointment. Tom Palmer will lead Global operations. I would expect Drilling at Anza to start very soon after. Lot of drilling to come for next 2 years to feed the MRE at Anza. Dec Feasibilty would be a major milestone and value driver for 2019 and beyond on its own. Buritica Feasibility in Feb 2016 was game changer for Continental Gold. MRE for Buritica is due in H1 2019. Given the packed work programme for next 12 months, I can see share price next year in 50p to £1.00 range based on Dec Feasibilty and further drilling results, unless OMI is bought out before end of 2019. Patience is key and rewards many Multiples, safe in the knowledge that Newmont is on board already and fully funding Anza development which could prove to be a jewel in the crown. IMHO, DYOR.

Appointment is this Thu...1 Nov. Tom Palmer to lead Global operations and projects. Might get an update this week.

At £10m MCap? this is way undervalued. Bottom was in last week imo. 50% drop from 13p seems excessive. I would expect a gradual upward move from here on ahead of Dec feasibility report which is a massive value driver. Higher Gold price is going to make the project economics even more attractive to any potential Acquirer, be it Newmont OR any other Gold major.

Lot of fence sitters....watching this who are not in yet.

tomorrow...........if they really want to grab any decent Qty.

15:31:47.......0.0001 BUY @ 6.99

Have MMs NO shares left ?

coz no body selling at these prices...

Large speculators have continued to exit from their one-time large net-bearish positions in gold futures, trimming this by roughly two-thirds over the course of the last two reporting weeks for data compiled by the Commodity Futures Trading Commission.

The disaggregated report showed that money managers further trimmed their net-short position in gold futures to 38,116 contracts from 49,382 the week before. Over the past two weeks, they have slashed that net short by 65%, after it had stood at 109,454 as of Oct. 9.

russell70,

smart Top up......in terms of timing.

WELL DONE.

Agree. I got my Holding and sitting comfortably. Still want to increase my Holding above 500k, just waiting for funds to come through. If it goes Up, then no worries either. It's the ones waiting on sidelines, who might get little nervous if it makes a quick move Up, before they also jump in for fear of missing out. £10m MCap should be distant memory in 2019. Even £100m MCap next year would only be 68p. Some folks do not realise how dramatic and quick the re-rate would be here after Dec Feasibilty comes out. Key is early entry. Golden Cross getting ever so closer. GLA.

Webbs, Could be combination of reasons. Some might have been sitting on losses elsewhere. Some chasing rainbows elsewhere. Some would have taken a hit on their FTSE stocks, some waiting to get in Nov ahead of Dec Feasibility report which would be a huge upward Price catalyst. COO announcement could also come anytime. At the same time, this can move Up with no warning. Only takes a few Buys to tick it higher. Some will be left behind when this moves higher as they will still be waiting.

I think continental also had c.148m shares in issue back in 2016. Today they got 188m shares only...of which 30m were issued to Newmont in May 2017 at C$4 a share.

Continental was C$1.50 on 19 Feb 2016. Feasibility report came out 24 Feb 2016. Next 12 months (17 Feb 2017). C$5.53

Due for Dec which should outline project economics at Anza. Should see price moved up ahead of that. Way too cheap currently. You only have to see the impact of same report for Buritica in Feb 2016, after which Continental price jumped massively. Nov 2015....C$1.31 Feb 2017.....C$5.53

This should be wrapped up well within 2 years is my guess. Just look at how Newmont bought Miramar Mining for $1.5B within 23 months from the date when they originally took a 9.9% Equity stake and were also restricted to 18% in first 4 years. They did not wait 4 years as Newmont do not hang about. If they like something, they go for it.

Look at the massive re-rate on Continental Gold share price before and after their NI 43-101 Feasibility & Technical report in Feb 2016, which showed NPV $860m at $1200/oz base Gold price and over $1 Billion at $1300/oz for Buritica Gold deposit for 3.7 Moz Gold and 10.7 Moz silver. 6 Nov 2015........C$1.31 17 Feb 2017.....C$5.53 It all depends on what time in the cycle of these Gold explorers you join. Project economics at ANZA should yield pretty robust NPV. Also with Gold cycle on the Up should make it even more attractive. Anyone buying at these low prices in OMI should do very well in the next 6-12 months. IMHO.