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Ultimately makes no difference Jack

Reminds me of the posts on GGP when there was plenty opportunity to scoop up shares when they were just 15m-20m market cap.

Couldn't give it away at the time. No one wanted them at that price.

Same situation at SOLG before their funding came in.

I was.adding KOD at 0.04p couldn't give that away either. BB flooded with muppets, bemoaning BA. Doesn't change anything though.

The institutions are paying 10 x times what I paid over there and I'm just sat back relaxed.

Those that knew what the potential size of resource weren't freting about the day to day on any of the above.

Any good resource project starts with the asset

There is more than enough drill data to confirm that ANZA will be huge.

That's why Newmont/Agnico are here for.

Revist the numbers If you need some reassuring

Suits me fine I'd they are storing up a runway of news to release back to back.

Once the funds come in its all systems go.

GLA

@LawrenceH

Not my words.

This has come from MB himself when he did an hour long stockbox interview and discussed the value that would be added when asked the question about Bhukia.

He said "it'll add a couple of zeros to the market cap here"

No wonder he is busy out there.

GLA

Good to see the developments in the M&A space over at Newcrest as clearly won't be going anywhere cheaply.

The chart here is starting to strengthen after a consolidation period and won't be long now before drill plans and survey data is released

GLA

I see Newcrest have just Announced their FY23 HY Results and they look very good and they have been able to the sing about their pipeline of projects including Havieron and completed an bullish presentation to market.

Waiting for the Newmont results to come out now. I suspect they will be under a little more pressure with their shareholders and wait to see what their numbers look like against a backdrop of falling resources and reserves at Newmont since 2019 due to under investment in adding new ounces since their merger with goldcorp.

They really do need to add some big ounces so should work very well on our favour for them to get this JvA.deal all wrapped up .

Can't be long now until the 2m cash payment comes in and we get an update from Brazil and Argentina projects also

GLA

Thanks ID78

Yes, MEN fits perfectly into this header, seen a decent bounce of the recent bottom

I like to see a bb where holders lay out the investment case.

If I like the look of something, I'll often stick my DD notes on as a reference point for me to return to If needed.

Just about to take a look at TPX

Keeping an closer eye on EQT now.

Also HARL.. especially if it goes sub 10p again.

Both are 90% off their peaks from a couple of years ago.

Phase 1 has been slow Jack.

It was exactly same at GGP things didn't really get moving until they entered their Phase 2 and the cash commitment & drilling really ramped up and regular results kept being produced one after another.

Same situation with the other Tier 1 asset over at SOLG that i know a few have been in, they were trading around 1-2p until their exploration funding landed and then it took off vertical as regular drill results were produced once they had the cash.

We hold the cards in terms of the asset, but the majors hold the keys to the safe in terms of the money.

They have spent well over $10m already plus some upfront cash a few years back and are about to gives us another $2m cash plus stick $20m cash into the new JV company for drilling and in return they will get half the shares in that company and will have to report progress on ANZA to the Newmont shareholders once this JVA is all locked in.

All the keeping drill data to themselves will have to cease at that point as They will have an exploration asset on their balance sheet just like Cerro Negro and they'll be expected to provide updates to the markets accordingly and will want to justify the work the are doing to the Newmont shareholders so expect the mystery of some of the fieldwork they have been doing across the other licenses to start to be released to market.

They don't spend this kind of money on a whim, they already have the comfort of 2-3m oz at APTA, Pepas is now looking good and we all now wait to see just how big ANZA is.

Would like to see some institutions come in, which I think will only happen once the JVA is completed and phase 2 finally underway.

GLA

It's for the company that will own all the rights to ANZA.

There are multiple licences that OMI own which make up ANZA..

The original JV company never had any ownership of these, BG saw to that and as things stand we still own all the licences

The New JV Mining company will ultimately own all the licences and we will own equity in that mining company

The buy out option sets the terms under which any equity holder can sell or transfer their holdings in the new mining company and the terms under which there will be a buy out option to go to 100%.

That's my understanding

Looking forward to you re reading my post then seeing red where you will see if you take some care and attention to the facts that I never drew any parallel whatsover to cosmos not bagging and was referring to OMI's potential to multibag vs savings accounts

Lets see if you have the moral fibre or intellectual abilty to recognise your clear error and apologise for your misrepresentation.

Leave it with you.

Agreed.

Could get triggered at any stage.

First we will hear is that the buy-out option has been exercised will be an RNS landing and this would be gapped up immediately to on or near the option price.

AGEOS has written some good posts on the internal modelling that the majors will all have in their possession

It's down to them when they trigger the buy out clause, and there will be some form of double option agreement should either Newmont or Agnico want to take it 100%

When asked Brad just states that the JV won't run the full term, but he can't say much more than that

Even if he knows they are lining up to exercise the option at multiples of today's price he wouldn't be allowed to say anything until that little red dot lands.

GLA

Seingred

If you want some facts, facts are that I rarely read your posts.

However, if you are going to read my posts and are so desperate for ongoing engagement from me then don't mis quote me.

@CL

You are correct about Argentina and comments from BG about potential for a JV

Newmont have been taking further land around Cerro Negro and in the past year did a deal with a small Canadian land holder who held neighbouring land,.paid them some cash and granted them a Net Smelter royalty for their land

If El Pantano looks promising Newmont may well be happy to fund OMI to explore further in return for a JV option.

Buy out option forms part of the JVA.

Aware this is likely being the area they are negotiating on alongside the core and drill data and what the internal models show in terms of potential size of resources as ultimately that will dictate the buy out figure

· Once formed, the JV company will be owned 49% by Orosur and 51% by Minera Monte Aguila.


The Project is subject to an Exploration Agreement with Venture Option ("Exploration Agreement") with Colombian company Minera Monte Águila ("MMA"). MMA is itself a joint venture between Newmont Corporation ("Newmont") and Agnico Eagle Mines Limited ("Agnico"), and is the Colombian entity by which these two companies jointly exercise their rights and obligations with respect to the Exploration Agreement over the Project.



Orosur and MMA are advancing negotiations of a joint venture agreement (the "Mining Company Constituent Documents") that would govern the development and operations of the Project.

The joint venture will operate under a new Colombia legal entity (the "Mining Company") that would hold the Project mining concessions and applications, with MMA as manager.

> In the meantime, MMA has agreed to pay the US$2 million Phase 2 Payment contemplated by the Exploration Agreement to Orosur, in advance of finalising the Mining Company Constituent Documents.

> Funds are expected to be received from MMA soon.

> RNS should confirm this additional cash coming in to OMI which will increase the cash held to just shy of 5 million.

> Cash burn annually is less than 1m

After the formation of the Mining Company and
entering into the Mining Company Constituent Documents, as per the Phase 2 earn-in provisions, MMA may earn an additional 14% ownership in the Mining Company by spending US$20 million

If the Phase 2 earn-in is completed, MMA would own 65% of the Mining Company and OMI would own the remaining 35%

Classic turnaround situation here

year end financials should demonstrate a sharp uptick in performance over the past year.vs prior years and a big swing to profitability and cash generation.

RNS must be close

Fully agree

The macros here are starting to look extremely promising and the company is positioned perfectly to benefit.

I'm still keeping an eye in BZT, agree needs funding. CB slow pace at getting a deal for Mankayan which is the attraction there unless Mankayan it's sold for a song to keep the lights on, in which case I'd avoid altogether

Have stuck a post up on Pat, whiff of a deal on India and that would bag for sure

Will take another look at KEN as missed the recent rise over there.

Also keeping an eye on GSCU.. larger copper explo play headed up by Sam garrett from GGP days. Early stage same as KEN

All of them high risk as you say, but can move very fast.

Yes Troajan

thats the sort of thing.

Also added PERE to watch list as it fallen into the same category that I had VAST in where they looked absolutely dead and buried with the last holder about to switch off the lights and in need of some cash and a miracle and then all of a sudden some diamond news lands :-) that sees them springback 400% to the upside.

PERE trading below NAV and in a mess.

RMM is also on watch list as value was destroyed going into suspension with asset values far in excess odlf the market cap, Another one in a mess that should they be able to refinance and re-list, could be one to watch.

Also keeping an eye on ORM but haven't got the full picture there yet.

That sort of thing

situation at WSBN.. recent placing at 10.4p and average drill result combined with a onslaught of deramping saw it sell off. Have taken some sub 4p whilst on offer , de rampers have gone quiet & news expected

Have missed the moves on EST a few times but it's also on watch list as looks like its going to rebase

So really ones that may have previously overshot to the upside and have now overshot to the downside

Boil of to the races again this afternoon

A few buys and this ticks up quickly

Then V shaped recovery in Gold price within 30mins.

Back in positive territory at $1863