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If it’s ‘chicken feed’ then why doesn’t every small cap explorer out there have a multitude of top 10 minors as JV partners?
If it’s ‘chicken feed’ then why is exploration expenditure and new discoveries of deposits at historic lows.
To think a large minor just sits there throwing a load of mud to see if it will stick is nonsense. Newmount is a huge cash rich company, but it didn’t get there by throwing out $10m punts left right and Center.
AG- not sure they will have a full idea on it yet. Last RNS suggested they are gonna start infill drilling which will give them a better idea of what APTA.
Last RNS was very positive in that they mentioned CSA had reviewed historical drilling to ensure it was adequate quality for a resource estimate. To me that hinted that they are gonna take APTA to resource stage which builds a great foundation - if we can get 750k- 1m confirmed resource from APTA then that’s a great start.
Sotolo- you are spouting drivel once again (this isn’t the first time you have tried to make this point). You suggest NEM use a ‘throw enough mud and some will stick’ approach to JVs and exploration expense. I cannot see any company throwing 8 figure sums around without any kind of risk assessment, ROI frameworks and a great deal of prior knowledge of the area. if this was the case why hasn’t every Tom dick and Harry explorer on the junior markets got JVs with majors.
And why has exploration expense / budgets over the last couple of decades plummeted - if there was so much exploration cash to throw around?
It is obvious, with a tiny bit of research that NEM have a strategic regional interest in the cauca belt because of historic involvement (continental and Miranda) and they believe there are significant mineral structures throughout this fault line. Quite simply they wouldn’t be here otherwise- wouldn’t be worth their time, money or hassle to be involved so early in the exploration time frame.
Sotolo, for someone who constantly criticises ‘ramping’ on this board, your repetitive inane posting is getting tiresome.
In the last couple of weeks you have added zero objective value.
For someone who proclaims to have held for decades, you now you complain because an RNS from a mining company is delayed by a few weeks (shock horror!) you come across as naive- or perhaps you just find the negative in every situation .
The company has clearly explained why there is a delay. Perhaps just chill out a bit and let it play out a bit. A few more weeks after decades of holding won’t hurt, will it...
https://www.loscerros.com.au/site/PDF/bb8fc5a6-7ddd-4290-8606-b7e67659c92f/TesoritoGoldporphyrydrillingdelivers582m094gtgold
Huge find only 60km away. This fault line houses multiple potential world class deposits. Omi has over 20km of it to explore. Note los ceros initial results massively underwhelming.
Patience required all...
Very positive this morning.
Accumulation following the new tax year and people perceiving great value down at these levels.
Results should be imminent and could be very interesting. Any hint of that 74m intercept continuing and 33m mcap looks low imo
Ps- let’s not feed the troll. Trying (and failing) way too hard
Sotolo- I think regular readers of this board get it now. This must the 20th message from you in a week proclaiming the company is / was over valued and it definitely shouldn’t have been up at 40p. You are entitled to your opinion but the constant repeating of said opinion is getting tiresome.
You state in your post how the share price will change when fundamentals change - yet you fail to acknowledge any of the progress / change in fundamentals since September last year.
You are constantly negative about being ‘locked’ in a JV with two majors- look around you 1% of junior explorers go anywhere without a JV.
Im all for all opinions but repetitive, subjective opinions are extremely boring.
If drilling proves a continuation of the 70m+ Mineralisation at 3+g/t - then £35m mcap is very low. It would be an early ‘hit’ for the company having barely scratched the surface of the overall licenses.
Patience required though and overall market sentiment needs to improve - hopefully new tax year helps this.
By the looks of it Webb’s is underwater over at PFC so just releasing emotional distress out over here.
Probably best not to reply to the provocative posts which just throw out random price guesses with nothing to back it up.
Well, it maybe quiet but we know there are 4 drills hammering away.
3 and a bit weeks since the last drilling update. At that point, we knew MAP 77 had been finished and MAP 80 was being drilled. So news likely next week (previous updates have been 25th / 22nd of the month).
With the four drills working away, results are going come thick and fast. Sentiment on this can potentially flip overnight- any continuation of the 73m intercept or additional zones would almost be seen as a proof of concept and will likely result in quick upwards movement of the SP.
Hoping Thursdays call will provide more detail on the next stage of drilling and what that are upto with the 4 rigs.
Agreed Vic.
Two below average holes and one outstanding one (73m at 3.5G/t), with another 7,000-8,000m to be drilled. People need to zoom out and bit and remember the fundamentals- mid cauca belt (home to multiple 5m oz+ deposits) and in bed with two of the best in the business.
Will take patience- from what I can tell with VMS deposits (I’m not geologist) is the mineralisation can be found in pockets rather than one continuous seem - hence a bit trickier to find.
I do want the company to give us more detail than they are on what the drilling plans are for the next 7,000/8,000m - I imagine that will come with the next announcement / conference call.
Gold companies will usually be very conservative on their PFS. From memory with buritica they pegged it at $1,200 for the purposes of the PFS.
Omi was profitable in 2017 when the gold price was $1,258. ($2mn profit) so with similar economics the gold price would have to suffer me hell of a drop.
Also, one of the biggest overheads for mines is the price of oil which is at very low levels and is unlikely to hit the dizzy heights from previous decades given the US producing. Surplus?
Absolutely agree it’s all dependent on grade, volume and ease of extraction of course, but even with a possible slide in current gold prices the conditions are favourable.
Let’s not forget the 70m intercept at 3g/t+ - that hasn’t disappeared. It will take some scratching around the periphery to get a feel for what’s down there- which is exactly what they are doing.
As Dr posted earlier- with buritica they did not run head first into 10m oz of gold, initial drills were poor.
Omi can sell their interest or the company at any time- but yes, any purchaser would be tied to the contractual terms of the JV.
What I’m getting at here is NEM cannot just sit on this, drag it out and bore Omi into selling cheap after 12 years (as you mentioned earlier). They also cannot not dictate that OMI or it’s interest is not sold (whatever % level that may be).
Either which way, that approach from NEM would be counter intuitive given the macro gold environment.