Member Info for PortfolioPower

@Jack

It was like this only a few weeks ago at WSBN which was trading at 6p whilst they had gone quiet and there were many posts over there about shocking communication from the CEO.

I posted over on WSBN at that time that I was happy as I felt it was a good opportunity.

I anticipated, (as did many others btw) that the comms would start to flood in as the drilling approached, not only has that happened, but they are now drilling on 3 fronts over there which could not have been predicted and I'm 100% up over there now since.

Its actually not too much of a stretch to imagine OMI drilling on 3 fronts at some stage.

Recently, I've never seen so many posts across the small cap bb's about folk being back in cash, and the old adage "sell in May and go away" has been playing out across all the small cap sectors.

This traditionally slower middle part of the year tends to throw up at least half a dozen exceptions that can become solid plays on the right news landing and go on a decent runs.

If OMI can deliver the right news, I suspect they have just as strong a chance as any.

ANZA drill updates and assays will be key, but the big one is undoubtedly the completion of the formalisation of the JV.

Impressive to see how the FOMO has started at WSBN once the dates on drilling became much clearer

Expecting similar here once we get some clarity on what is happening in the background

As ever, i suspect it's merely down the the legals dragging their heels and the company either not wanting to, or legally able to release details of the various stages of the admin until its all signed and sealed.

GLA

Agreed

If the crews have the XRF equipment with them analysing cores and samples as they are logged in the field, they will be able to more quickly refine the target zones as the drilling progresses.

Wishbone II has already returned high-grade surface rock-chip samples with assays at surface up to 25.2 grams per tonne gold (“g/t Au”) at the Hanging Valley prospect have been recorded and 7.32 g/t Au were recorded at the Oaky Mill prospect on the licence.

The Wishbone project is a sizeable land package of 14,700 hectares all 100% owned.

It's situated between two producing gold projects, Charters Towers Gold Project to the west and Ravenswood to the east which was recently sold for up to AUD 300 million.

These have combined inferred reserves of over 10 million (Au) ounces.

I'd expect initial drills focused at-:
> Grassy Creek
> One mile hill
> Hanging Valley
> Oaky Mill

Plenty to go at

GLA

The labs in Queensland appear to be turning around work much more quickly in general vs the labs in Perth.

If all three drills are running in parallel we may see the first drill hole results from Wishbone II coming in first. But I wouldn't want to call it at this stage, as we don't know for certain which labs they have contracted with.

I expect we will learn a little more very soon as each drill program kicks off

Then expect more RNS updates to land on a fairly regular basis with accompanying interviews as we move into this news rich period.

Its worth bearing in mind that all the rig crews may also have XRF equipment on board that can provide live data results out in the field that the company may or may not choose to release details of such ahead of the formal lab assay results.

Nice silent riser

Particularly excited that 3 sets of drill results will be coming in back to back all in highly prospective zones.

Any of these drills has the potential to light the blue touch paper on a major breakout rally

Over the past few sessions it has certainly looked like positions are now starting to be steadily accumalated with all the newsflow anticipated over the coming months ahead.

GLA

All good posts.

Looks like we could be in for a brief 'cat & mouse' period at present whilst phase 2 JV documentation is with the lawyers being worked through pending formal agreement/completion and market announcements

Whilst back out in the field, the drill program and the drill data continues to be accumulated.

Back to the year high is only 5.50 and the business in a much stronger position than at the start of the year.

GLA

I remember TW called this as a potential 100 x bagger

Could be interesting few weeks and months ahead

10,000m of drilling results to look forward too across multiple targets within two licence areas.

Noticed on Twitter that they have completed the infill program at El Pantano so that's more results in the lab pending results.

Brad speaking at the 121 mining conference later this afternoon.

Link via the 121 mining website to register

Agree with all comments

Between Agnico/Newmont/OMI/RRM they seem to be locking down that whole selection of the Mid Cauca belt and these Majors and the likes of Sprott are not in there to play games.

This is going to be big, very big imo.

Enjoy the weekend all!

TRP making a move

Looks like all the loose stock gone now

0.34 PAID

Tick up.....

JV deal incoming?

Looking at the cash flow forecast we don't actually need any cash for a very long while unless it's to fund another acquisition.

Circa 5m cash held at present and Tier 1 ANZA is on a total free carry now, with 20m next spend being funded by Newmont/Agnico.

Plus an additional 2m coming into OMI from Newmont/Agnico.

If Brad wanted to get the cash position up to circa 10m he could look to raise a further 3m and I'm sure TP would be falling over themselves to get their clients in here for another scoop. If it's in line with the 5 day VWAP at any stage, all well and good.

If that was going to happen though, what would be the point of courting the North Americans as Brad is presently doing?

We only need to spend 3m on drilling in Argentina to earn 100% ownership of El Pantano.

If Brad can get the likes of a global co like sprott to get involved and they then start providing coverage and getting their clients on board that would certainly wake up the SP.

If not, then if he goes for the TP route for say 3m, then as things stand half our Market cap would be represented as cash!!

With one of the skinniest cash burns of any exploration Co and a free carry on a tier 1 asset.

We only need to spend 3m on drilling in Argentina to earn a 100% of El Pantano, and we aren't exactly under any pressure to do so quickly as that spend can be over a 3 year period. So we are hardly under pressure for cash, UNLESS a further acquisition is being dangled. Possibly more land in Columbia, possibly one of the last remaining Gold tenements in the Mid Cauca belt.

All will become clear very soon.

Then 50p+ target will be on the cards imo.

Just been doing some more research on our Colombian neighbours 'Royal Road Minerals'

They appear to have a similar capital structure to OMI accept instead of Newmont who own 15% here.

RRM have Agnico on board with a 18% stake.

Sprott are involved also.

I wonder if Brad will be meeting with Sprott at the conference.

I'd be very happy if he could get them on board here.

Didn't he mention 'the north American funds' in one of the last interviews.

Don't come much bigger than Sprott in this sector.

I think 50p as a minimum once everything is out in the open.

Seen many shares get pulled back to allow the 'right people' the opportunity to load up on the cheap.

If we are about to see some institutions come on board I won't be surprised to see this coincide with some major news releases from ANZA.

Newmont/Agnico have clearly seen sufficient to start flying in extra rigs to the north and bigger drills at APTA where we will now be drilling down to 1200m

In for the journey here.

It might have crossed the minds of a few that Newmont/Agnico could well be deep in JV discussions with Royal Road Minerals which would create a mega licence area within the Mid Cauca belt.

Either way, all very tight lipped from our two majors at present so trust your research into what we have here ahead of the release of the impending assays.

Even before the world class drill results from MAP-089 to MAP-096 were released to market I recall Brad mentioning in one of the interviews that APTA was already looking like 'a few million oz'

This was prior to further blockbuster results being released and APTA has has only grown in size since then as further results have been released

I think Brad may have been told by Newmont/Agnico to 'play things down' for now at least until the final permit applications are across the line increasing our land package even further.

If the results continue from ANZA and we have Multiple APTA type deposits, this genuinely will be one of the most significant gold discoveries in the past few decades.

I stated before that the next closest company with a JV with two global majors and similar early drill results is Antipa Minerials who have been trading between 150-200m

We are just 20m market cap.

GGP ran up as high as 1.5bn market cap in the run up to the release of their Maiden Resource Estimate

Even our neighbours in Colombia on the adjacent licence area to ANZA 'Royal Road Minerals' who have only put three drill hole results out to market have been trading between 70m to 100m market cap.

We should be comfortably moving back to 80m as a bare minimum and 100m+ market cap by the year end is my first target here as by that stage a lot more pieces of the jigsaw will be in place.

GLA

You are right CL.

Just checking back from when they stated samples went ro labs for Argentina and then released results and it was indeed about 6 weeks which is a pretty rapid turnaround especially when compared to lab times in Australia so they must be back up to normal speed in South America.

Got a really good feeling that the next few weeks and months here are going to be special and can see updates starting to land from next week and looking forward to our presentation on Monday.

Assay results then due.

News from Brazil to Landing

Update from Anza

Next assays and drill program at Argentina

Additional money coming in from JV

Free carry on the next $20m of drilling by Newmont/Agnico

Results from the first 1200m drills.

Next two targets north of ANZA

All looking good.

This is the Silent riser bb

So please be very quiet

We don't want to wake up the herd.

:-)))