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LONDON, Sept 5 (Reuters) - The euro sank below $0.99 to a new 20-year low on Monday.

The euro slid to as low as $0.9876 in early European trade, the lowest level since 2002, before recovering to $0.9939, still 0.2% lower on the session.

It's going to be choppy out there and with cash being inflated away at an alarming rate I'm happy to be holding gold and gold related assets.

Hi Star

Agreed, Exactly the point I was making :-)

Market cap here is incredibly cheap vs the potential of a Tier 1 multi million oz resourse.

Possibly one of the cheapest market caps globally for an exploration company with Two Global Majors on board who are going to potentially free carry OMI to well over $100m+ of exploration drilling to define a giant district scale gold discovery.

The fact OMI can 10 x bag from here and still be valued less than GGP in terms of market cap is all we need to know.

Potential here is enormous!!!

Morning all.

Looking good for news tomorrow.

Imagine how fast this will move with a decent RNS under it combined with a detailed presentation setting out expectations for the coming weeks ans months ahead.

Not sure how easy it will be to buy in for those on the sidelines when news lands.

MM's hungry for shares, very good sign.

Warrants at 25.5p should get exercised with Phase 2 confirmation and we'll still look cheap compared to our Colombian exploration neighbours Royal Road Minerals who are operating on the neighbouring license area and who have traded as high as 100m market cap but are a year or two behind OMI with an extremely similar capital structure but with some very promising initial drill results which provides additional comfort as to the potential hosted across our wider licence areas.

GLA

Monday 5 Sep is Labour Day in Canada so would make sense for news to be released from Tuesday onwards

Been a long wait through the news blackout period, this is about to come to an end as the webinar is lined up to finally break the silence.

Important to remember that phase 1 was only ever the 'option period' whilst the lawyers have been busy creating the JV company phase 2 confirmation will signal the actual formalisation of the Joint venture and the majors will have the ANZA licences transferred across to their legal ownership for the first time.

I doubt they will hang around once phase 2 commences, especially given that since Agnico merged with Kirkland lake, they now have a far greater incentive and requirement to constantly increase their reserves and if they can report a Multi Million ounce MRE at ANZA once they have legal ownership with a significant opportunity to grow the reserves here into a Tier 1 discovery that can sit within their reserve numbers, I suspect they'll want to progress drilling and results at pace.

If all the other ANZA licenses at the North and south of APTA prove similar grades and widths as results are released to market its probably a given that we will progress quickly into phase 3 where they'll probably spend a further $80m-$100m and we will be seeing a lot more rigs coming in all free carried to OMI.

OMI. It has a market capitalisation of £23m, with approximately 189m shares in issue

GGP. It has a market capitalisation of £373m, with approximately 4,210m shares in issue.

If OMI had the same number of shares in issue as GGP we would be priced at less than 1p.

GGP was around 1p as fhey commenced phase 2

Long way for the OMI share price to run up here imo and with very little shares in issue and a small free float this can make dramatic moves as we see volume coming in

For a number of the various funds and institutions they will naturally want to see phase 2 conformation to the market before piling in. Together with an unquantifiable amount of retail presently not invested, many of whom won't be a visitor to this bb or be reading this post, but we all know the effect 'the herd' tends to have when triggered by a good RNS.

We also know how magnified the herd effect is here at OMI given such a small free float. 100%+ daily moves arent out of the question at all.

Others may be holding a small position here that they are happy to increase as news is released.

The present Market cap of 25m should be doubled as a minimum imo by the confirmation of a further £20m in exploration drilling being free carried at ANZA..

The market also wants to see the strategic plans for phase 2 set out in the presentation and then some results released to market from the ongoing drilling at Pepas and Pupino.

Some stand out drill holes will moves us further onto higher highs.

With a much higher market cap underpinned by Phase 2 JV news should also enable for the first time in a long time for some broker notes to start to be issued.

It's been a while since the likes of canaccord and SP were issuing 85p broker ratings and this is a whole different animal now, hopefully a beast of a share in the making with the right news landing.

Not really any other shares out there right now with the potential to move aggressively from a 25m market cap to anywhere between 500m- to billion+ market cap depending on whether we have a Tier 1 or 2 asset in the making.

Then all the Speculation can commence as to the potential size of our Maiden JORC MRE?

A reminder that GGP went on the see a 20 x bagger from the commencement of their phase 2 programme.

If our drilling at the North is a repetition of both our licence neighbours RRM Ltd who are drilling the adjacent license to the north west of ANZA who released some drill hole results a few months ago which included: 303.7 metres at 1.1 g/t gold

Brad mentioned that their 303m at 1.1g/t indicates that our neighbours have drilled through a porphyry which looks to be a "smaller neighbouring cousin" to what Newmont and Agnico think is likely to be the MAIN intrusion contained within OUR licence area

Directly due north of APTA is what the company believes is the porphyry source. Quite incredible to think that we may have yet another APTA style deposit which Brad had already informally estimated to be "A couple of million oz".

Hard to disagree given the published OMI assays received to date, some of which are of higher grade and similar widths to the world class grades seen at GGP's Haverion discovery yet start from much shallower depths at ANZA.

Brad confirmed that they had seen from both the IP surveys over our licence that these multiple porphyrys can be seen and mentioned that the follow up sampling and mapping both appears to confirm the anomalies and structurally it sits in the right place within our licence on the Aragon fault which is mineralised all along the length.

Even ahead of Phase 2 confirmation Agnico have been happy to helicopter the rigs in (at no cost to OMI remember) and get work underway as they are clearly extremely satisfied with the initial results from APTA that they want to move the rest of our licence area onto 'the next phase'.

If we are about to confirm a further repetition of a furthet APTA style major intrusion to the north then all bets are off imo as to the potential size of this genuine district scale discovery in the making that we may have on our hands here as shareholders of OMI.

This is still only just a fraction of the total licence area. We then have results from the south to look forward too where initial mapping outcropping ground soil samples has revealed up to 10g/t at surface.

Whilst there are no certainties in exploration it's looking good imo that once phase 2 is confirmed we will be all looking forward to working up a chunky Maiden Resourse Estimate that will underpin a market cap at many multiples of the present company value.

The majors have always maintained they aren't interested in anything less than 5Moz so if Phase 2 conformation is received that tells you all you need to know about just how big they believe ANZA has the potential to become.

Bacanora Lithium sold out to Genfeng for $391m whilst it was still two years away from production.

BCN shareholders felt it was a low ball offer at the time, but they had already seen a decent run up in the SP to over 200m market cap from memory.

Plenty of headroom here for KOD to even start to begin to realise anything near approaching fair value.

GLA

Moving nicely up the daily risers.

Volume building

Looking good for a consistent push northwards now from such a massively undervalued position.

If JA has finally managed to line everything up for this drill on confirmation landing this is seriously going to rip from such a low market cap.

Nothing at all priced in for the assets.

GLA

@Aberdeenman

Agreed, I expect this is very very much under the radar of many which is why the opportunity to build a position below what the institution holders are in at 10.5p

They have reviewed the growth potential, stratergy for aggressive market penetration and the company is merely scratching the surface in terms of the global prize here.

Just wait till EISB start gearing up for a full launch into the UK market and folk start seeing the East imperial brand rubbing shoulders next to the likes of the billion market cap fever tree. At that stage I can see a scramble for shares from domestic UK investors.

So much growth potential here it's crazy.

The recent recruitment of top tier personal into strategic roles speaks volumes for this highly scalable business.

GLA

We have seen a few consolidation days on the recent run up to allow the SP to catch its breath.

Agree that in terms of news flow would prefer a steady and regular stream of news to be released following the publication of the full year results

I do Wonder if the Phase 2 news will be released just ahead of the weekend or whether 6/9/22 is effectively the completion date.

Once confirmed that we have a free carry on the next 20million of spend, I can't see the Major's hanging around once they have 51% ownership and the licences formally transferred into the JV company.

Probably why they have been happy to helicopter rigs into the north (not cheap), and have been keeping a strict news blackout until everything is formally completed.

GLA

Recent senior management appointments with proven track record within this sector.

Strong growth being evidenced.

Plans for further expansion into markets where our footprint is growing stronger all the time.

Excellent opportunity to position build well below the likes of Aviva investors and all the other institutional investors who are in at 10.5p.

Strong Buy

Looking forward to another decent week here.

Ahead of what should be a nice run of company changing updates due to land.

GLA

Just starting to warm up.

Looking forward to the main event over the coming weeks ahead.

GLA

@ SectorInspector
- nice summary

@Impecunious2
- a well reasoned and smarty executed move when comparing the two individual monthly charts.

Good quality well informed bb on here which I like Also, no doubt going to get a bit hectic as news starts to land, but time to reflect over the extended weekend as to what kind of SP levels we might see here over the coming weeks.

Getting past 50m market cap should provide some extra rocket fuel to the SP as lots of the small cap funds are typically obliged to take positions above these levels.

I've always thought that getting the phase 2 confirmation should catapult us to at least double the market cap of our neighbours Royal Road as we will be at least a year or so ahead of where they are, with a far more attractive land package imo, additional projects where we can add value very quickly and for me given our Majors are on record as stating that they are not interested in any project that will yeild less than 5 million oz's gold then a phase 2 confirmation would certainly underscore that that is what they now believe to be a minimum discovery at ANZA.

GLA

Oh and I agree, there is always the potential curve ball with BZT that an alternative deal structure appears out of the blue and its off to the races once again :-)

Thanks MrT

This has remained on my radar since the sell off started back on Gold Cup day after the spike up on the licence renewal news.

I agree about the appetite likely being subdued at present for new IPO's.

No denying the asset though.

Whilst it might take a while its looking deeply undervalued vs the assets held.

Firmly on the watch list.

In November 2020 MMIH announced an updated Mineral Resource was prepared by Derisk Geomining Consultants Pty Ltd ("Derisk") for MMIH under JORC (2012) and stated that "Mankayan is now estimated to have combined Mineral Resources of 793 million tonnes containing 2.8 million tonnes of copper, 9.6million ounces of gold and 20 million ounces of silver.

Bezant interest in the Mankayan project:

The Company announced on 13 September 2021 i) the Company's agreement with IDM under which it was agreed that IDM would take the Mankayan Project forward and the Company would own 27.5% of IDM with anti-dilution rights to enable the Company to maintain its shareholding; and ii) IDM's agreement with Mining and Minerals Industries Holding Pte Ltd. ("MMIH") under which it acquired MMIH's interest in Asean Copper Investments Ltd and MMIH's Project information ( the "IDM Agreements").


Proposed ASX listing:
As previously announced It is proposed that IDM will be acquired by IDM International Limited (ACN 108029198) with the view that IDM International in the future may apply for a listing on the Australian Stock Exchange ("ASX").