Member Info for MisterPositive

Bhargav Yesterday's dramas did not help and some doom mongers just took advantage of the confusion. ANZA Drilling next phase(s) are near term value drivers. Soon as Newmont start, results will come in fast. Not far now.

You need to look at the relative % Upside vs peers.

Which one is likely to 10/20 Bag from here?

Others already have much Higher MCap(s).

OMI has lagged far behind....should play catch up. When it does you wont be able to buy at these silly crazy low prices.

was shocked to see RSI at 27........WTF?

MCap just went up by +$1.5B in just last week.

Put your NEWMONT cap on....

Newmont has been on a Buying spree. Some folks here have NO vision at all....lot of short termism.

Newmont wanted much bigger Equity stakes in both: Continental Gold and Orosur Mining, but were restricted to 19.9%......clearly they wanted more shares on the cheap.

Newmont would Buy-Out all 3 Gold deposits in Colombia (Buritica, ANZA, Lyra) within next 12 months is my guess.

Gold cycle is on the UP....JP Morgan and Deutsche Bank gold forecast $1700 for 2019.

NEWMONT is not going to wait for 12 years....they want to get in now. Barrick / Randgold merger was the defining moment.

Even with +$1450 to $1500/oz Gold price, San Gregorio (only producing mine in Uruguay) becomes profitable and could come online too. Loryser already owns the Plant & Machinery and all infrastructure in place. They control the +100km of prospective Greenstone belt in Uruguay.

At $1700/oz gold price and $1400 AISC, with 32,500 oz production, San Gregorio would be generating a hefty c.$10m profit annually.

ANZA is a 'Monster'......and will drive value all along from here on.

Uruguay could be a surprise Bonus in a very BIG way once the "re-organisation" is completed.

OMI could 10/20/30 Bag easy from here, if they execute it well.

IMHO, DYOR.

Chazing It's the small free Float of c.100m shares only that makes it always impossible to Buy when MMs drop the price. I have never managed to buy ANY shares at Lows of the day over past 4 weeks...LoL

Price was on the floor when Newmont bought in their 19.9% at 102% premium which was still so cheap. Also Newmont were restricted to 19.9% just like Continental Gold did with Newmont who wanted more shares. Clearly tells you Newmont wanted to Buy-In a much bigger Equity stake in both OMI and Continental Gold. It's what Newmont will pay for the other 80% Equity for 100% Take Over...we need to consider. Value of Gold oz at Anza will go up as they drill through the rest of 90% land package. Coupled with Gold up cycle....you could be sitting on 10/20 Bagger here. IMO

Typical....This is Oversold. Newmont coming on board after their own multiple site visits speaks volumes. Newmont had to pay hefty premium to secure their Strategic deal as OMI was in talks with number of other parties but chose Newmont.

This is Solg Mk2... Newmont will most probably buy Out OMI early. Gift at these prices

They drop it but... Cannot Buy a thing....

Yuri,

Think you mixing Uruguay and Colombia.

They are across opposite sides of South America. Uruguay geology is very different.

ANZA - is in the most "Highly prospective" rich gold belt....which is what attracted NEWMONT. High gold grades is what majors look for, as it results in much lower "unit cost" and provides them with much Higher profit margins. Sure Newmont can Pay UP and buy out OMI as long as we get a FAIR PRICE.

San Gregorio - Lower grades as in Uruguay required lot of earth to be dug out and processed, resulting in higher overall AISC costs.

However at Higher gold price, even they become profitable.

FYI San Gregorio mine has been operating at c.+30% gross margin for many years, until only recently.

https://www.kitco.com/news/video/show/Mines-And-Money-Toronto/2134/2018-10-15/I-Hate-This-Question-On-Gold-Says-Alain-Corbani#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DMines-And-Money-Toronto

....Excellent interview...Must listen.....

https://www.cnbc.com/2018/10/15/gold-buyers-are-back-and-the-metal-could-go-higher.html

After disappearing for two quarters, gold buyers are back, and the metal could keep going higher:

Gold rose 3.5 percent in the past week, and it could keep moving higher, particularly if stocks remain under pressure.
The precious metal is also seeing improved emerging market physical demand.

Analysts expect gold, after two quarters of weakness, to trade higher through next year.

https://www.cnbc.com/2018/10/15/morgan-stanley-the-stock-sell-off-is-going-to-get-worse.html

Just in....

Morgan Stanley: The stock sell-off is going to get worse:

The stock market is in the middle of a rolling bear market, says Morgan Stanley's Mike Wilson.

"It's being caused by a drain in liquidity and peaking growth," Wilson says.

"Sooner or later, the rolling bear will likely be back for more."

Michelle Fox | @MFoxCNBC
Published 22 Mins Ago

The stock market sell-off is only going to get worse, predicts Morgan Stanley's chief U.S. equity strategist, Mike Wilson.

In a note to clients Monday, he wrote that the pain is not over for growth, discretionary and tech stocks, which been the final holdouts until last week.

"We continue to believe we are in the midst of a rolling bear market across all global risk assets caused by a drain in liquidity and peaking growth," Wilson said.

"Sooner or later, the rolling bear will likely be back for more."

On Monday, U.S. stocks failed to bounce back from last week's sell-off. The Dow Jones Industrial Average closed 89.44 points lower, while the S&P 500 fell 0.6 percent and the Nasdaq Composite dropped 0.9 percent.

https://www.kitco.com/news/video/show/Mines-And-Money-Toronto/2133/2018-10-15/Buying-Opportunity-For-Gold-Miners-Wont-Be-Seen-For-A-Decade#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DMines-And-Money-Toronto

Guest(s): Ivan Bebek Executive Chairman, Auryn Resources

Miners and gold producers are at an optimal point in the cycle for investors looking to buy, this according to Ivan Bebek, executive chairman of Auryn Resources.

“The opportunity in gold exploration, or gold companies in general, to buy them or invest in them in this low point, will never be seen for another decade,” Bebek told Kitco News on the sidelines of the Mines & Money in Toronto.
Bebek noted that the cycle has been cheap for too long and should turn to the upside over the next six to 12 months".

From Operational & Financial Summary section...(today's RNS):

Cash & Debt as at August 31:

Cash balance....................................$1,119,000
Held in Loryser.................................($1,068,000)
Net Cash..............................................+$51,000
Cash from Newmont share issue.......+$2,000,000

Total Debt at 31 Aug.............$1,922,000 (ALL held by Loryser and subject to Re-organisation procedures).

OMI is cashed up with over +$2,000,000 as far as I can see from above breakdown.

Mr T,

Agree 100%....not many punters understood today's RNS....they probably just spotted few negative BB comments and pressed the Sell button.

Newmont came on board (at premium) in full knowledge of Uruguay assets & Loryser "Re-structuring" process that had already commenced and was public knowledge via previous RNS before 10 Sep Newmont Deal RNS.

I was also very encouraged and bit surprised to see that their AISC costs dropped by $110/oz to $1342/0z Vs previous quarter of AISC $1453/oz.

With Gold cycle on the Up, company is trying to "Re-structure" Loryser, with a view to bringing San Gregorio mine back to profitability once they can source new ore from underground operations (SG UG West) at a higher Gold price. Hence they applied for Creditor protection from the Court which was granted. Court controller is in charge now to propose a deal to Loryser creditors for a future payment plan of some sort.

ADVFN folks first.....need to understand what the word 'Consolidated' means.

FY 31 May 2018 (full year) accounts show "Consolidated" accounts, which includes Loryser assets & liabilities. Confusing on the face of it....but company then provides details/notes separately relating to Loryser receivables & payables, etc. Ideally should look at Loryser financial accounts on its own to get a better handle.

Loryser is an 'Operating' subsidiary of OMI.....currently undergoing "Re-organisation" with Creditor Protection in place provided by the court. Controller appointed by the court just validated creditor claims report up to 3 Sep which was filed with the court on 3 Oct 2018.

Court appointed 'Controller' has a job to tally assets & liabilities of Loryser and submit his assessment to court prior to Dec 2018 meeting scheduled with Creditors, probably proposing the best deal OR payment arrangement going forward.

As far as i can see, these commercial Creditor claims are unsecured. So would be in their best interest to agree a deal proposed by the Court controller.

OMI is a separate legal entity on its own and NOT going through the "Re-organisation" process.

Loryser results get consolidated with Orosur results as it is still an operating subsidiary.

From what i can see, Loryser is undergoing "Re-organisation" and NOT liquidation.

Re-structuring costs, impairment provisions & write-downs of Loryser assets, etc. have already been dealt with resulting in the accounting Loss for the period.

FY 2019 Q1...i.e. Quarter (1 June 2018 to 31 Aug 2018) was only quarter with some productions as per previous guidance. There is to be NO more further production from San Gregorio mine for remaining FY 2019....unless market conditions allow.

So it was all about Loryser "Re-organisation" today.

FY 2019 Outlook section in todays RNS, clearly spells out, they are focussed on Anza in Colombia. Currently planning the drill program with their partner NEWMONT.

Forget the deliberate noise created by select few today for their own agenda(s). Many got mugged today into selling from the confusion that was created by some of the culprits.

IMHO, DYOR.

Few Ggp folks here today..deramping

JohnyBGoode, Strikes again by the looks.... ALL $1.9m debt is held by Loryser. And is part of Loryser re-organisation. They said it in 31 Aug RNS and re-confirmed again today.

Looks like some muppets spreading false info on other boards...who probably do NOT even know the meanings of: Being: 1) seperate Legal Entity And 2) court appointed creditor protection. OMI is a seperate legal entity. Loryser creditors only have claim on Loryser assets. Some folks totally got mugged into selling cheap today I think.