Member Info for MisterPositive

Would NEWMONT -

(1) simply pick up drilling from Charascalla ?

"The presence of strong gold anomalies has been detected at Charrascala along an 800m north-south corridor, including intersects of 3.43 g/t Au and 30.60 g/t Ag over 1.5m and 2.62 g/t Au and 14.30 g/t Ag over 0.90m;"

AND

(2) continue and expand the deposit definition drilling at APTA after such high Gold grades.

"Drill results at APTA have extended the mineralized area at depth and along strike, while still remaining open. APTA represents only 10% of the land base of the Anzá project, which covers over 200km²."

17 Sep 2018....RNS (from opening paragraph)...

...."Company's Directors believe they have resolved the outstanding issues with the Ghana National Petroleum Corporation (GNPC)......"

what do they mean....they 'believe' ???

Are the Directors not 100% sure themselves ?

Then later in same RNS....they say they have resolved all issues ?

....not sure what and who to believe TBH.

Thanks but no thanks.

Already in Solg2 (OMI)...

OMI is a potential 10x bagger with MASSIVE upside....Relative % ROI far greater at OMI.

However would welcome any guests to come over from Solg > Solg2......with open arms.......LoL

ATB.

Continental Gold's Buritica gold deposit right next to ANZA on same highly prospective gold belt.

...."On February 24, 2016, the Company released the results of an independent Feasibility Study that indicates the Buriticá project will be a lowest quartile cost producer and an economically robust mine. Once in production, Buriticá has the potential to approximately double the formal production of gold in Colombia and become the largest single gold mine in the country."...

Also many like myself who sold too early at Solg won't be selling at these prices.

Free Float gets even smaller than 100m.

Would be totally mad to sell at these silly prices especially after the mega High grades seen from just 10% of the total 207 sq.km land acreage.

Not making same mistake as Solg again.

MMs wiling to take big amounts in one scoop...

Could see a blue day.

Added more while prices are still low.

Mcap £11m?.......insane.

Wait till NEWMONT buy their next tranche of shares in OMI.

Grades at EG for Ggp were not great at all. It was only the large land area that was being promoted which Newmont tested themselves for over 6 months and walked away.

Have you seen the scale of mega Gold grades at APTA from just 10% of the ANZA deposit tapped in so far.?

I have not seen these type of High Gold grades in a very long time.

Newmont paid C$4.00 per share to get 19.9% Equity stake in Continental Gold last year at 46% premium.

It has already dropped c.42% from 12.5-13p intra day High last week.

Drop seems overdone. Very attractive entry price here. Even 10p soon would look very cheap. Drilling to resume soon.

Looking forward to even more High grades in the pipeline.

NEWMONT taking the lead now.

Same pattern as Solg when it was held between 8-9p range for a while before major push came. I got in at 8 at Solg and came out too early at 11....and never got back in. That decision still haunts me when I watched Solg run up to 23p first and then eventually topping out around 46p. Oh well cannot win them all.

Not making same mistake again with OMI who is likely to follow same tend only better coz of only 100m shares in free Float.

Looking back on both timing & wording used in 17 Sep RNS,

was clearly an effort to push price up to get Placing done at much higher price, otherwise it would have come at 0.10-0.15 range when price was 0.20

Keeping small position here but overweight in OMI.

Also not happy with the order they did 2 RNS yesterday. Placing RNS should have come first. I do NOT trust these crooks.

In my opinion only. Dyor.

Little surprised that Canadian listed Barrick Gold has not shown its hand yet?

While US listed Newmont takes leading Equity stakes in both: Continental Gold & Orosur.

Newmont would surely trump Barrick and become World no.1 Gold producer.

Will Barrick let that crown position slip away easily?

Could be some interesting twists n turns ahead in this game of Poker.

Also AISC costs/oz around this region seems to be pretty low.

With only c.$500/oz AISC, these Gold deposits would be very profitable.

Newmont were clearly chosen from a 'number of parties' involved in discussions with OMI to develop ANZA.

(1) Who are those parties, that Newmont trumped at over 102% Premium ?

(2) Was it MAXIT Capital who managed that bidding process on behalf of OMI BOD ?

(3) Could any of the parties 'Counter-offer' ?

Will be quite interesting if similar scenario like SOLG plays out here, with MAXIT Capital managing the process once again just like they did for SOLG.........Hmmm

That would really catch everyone by surprise.

Ignacio Salazar, CEO of Orosur, commented:

“After a lengthy process of evaluating potential partnerships with a number of companies, we are very pleased to have entered into this significant transaction with an industry leader like Newmont, ......"

I think Newmont might have had to fight off competition from other companies (Barrick Gold may be?)....hence had to pay +102% premium just to secure this deal.

Looks like same modus operandi of MAXIT Capital (our Advisors)....who got a counter offer for Solg by BHP who were paying even higher premium than NewCrest offer price but for a greater Equity stake back then....speculation yes, but very much a possible scenario.....watch this space.

Think High quality of gold grades speaks for itself.

IMHO.

* Higher Gold ounces from Anza
* Lower AISC costs at Anza

AISC costs for Newmont went up in 2018 Vs 2017.

The company's projected AISC for 2018 is higher than $924 recorded for full-year 2017. Newmont's AISC rose 16% to $1,024 per ounce in the last reported quarter.

Looks like NEWMONT was attracted to ANZA not only for the High gold grades, but also potentially low AISC c.$500 /oz by the looks, when compared to AISC $492 / oz at Buritica right next door.

DOUBLE PLUS for Newmont:

(1) Higher Gold ounces at Anza (replaces production declines at their other locations as per Forbes article).

(2) Lower AISC costs at Anza (helps Newmont reduce their overall average AISC costs / oz).

forgot most important & key point:

AISC costs for Buritica deposit are only @ $492 / oz

If Anza can mirror same or even higher Gold ounces, then this will be extremely profitable investment.

Continental Gold's Buritica deposit has NPV $860m.

...."The after-tax net present value at a 5% discount (“NPV5“) amounts to $0.86 billion".....

Buritica deposit is right next door to Anza on same highly prospective Mid cauca belt.

4.5 million gold ounces @ 10.8 g/t

If Anza turns to be same size, then after-tax NPV $860m would value OMI at c.90p / share for our 20% share.

Yuri,

Good question...been searching myself...all we know it is soon.

Going by Continental Gold's Buritica gold deposit (right next door to Anza), their work back in 2014:

..."The Company presently has 7 drills operating as part of its Phase V, 50,000+ metres drilling program for 2014."....

NEWMONT not going to hang about......might get update next week with Drilling Plans & Timelines.

It would probably be MULTIPLE drills on the go and split in to MULTIPLE targets & Phases.

So news flow should be thick n fast right from the start.

That is my view on next steps here.