Member Info for Professor1

Agree Mickey. Flushed out ones who got in only on Bhukia

As per RNS - its predominantly pyrite. If Iam not mistaken this seems to suggest higher grades of gold to come

Good afternoon Mickey and all

Absolutely agree. We now just wait for the good news we are expecting on Labola initially

us ending up in red

You are right Troj

The Board should have made them sign a declaration that if that local govt or indeed the indian govt made any retrospective change to the law then the compensation would be the market value.

Not only Kolar gold, it happened with I believe Oriole resources where Mark was the ceo.

I think under the bilateral treaty Australia should be taking steps rather than the UK.

It is true that most have bought here because of west african play but the shambles of the indian govt have resulted in ending up hugely in red

Hi Mickey

Agree with you. Before his interview with Proactive on the Kalaka, I posted some the details which Mark explained over the phone. You have at leaset 8 targets on that one project with historic drilling on the K1A. Any one of these targets can be a company maker.

Mark mentioned that this project will make LABOLA look like a baby!!!!!

Just keep loading each month at this price and max out ISA after 5 April on OMI. We have a long way to go yet with other targets. Every company on the Cacua Belt has produced a minimum of 8m to 10m ounces. OMI will be no different which is why we have Newmont and Agnico.

Hi Expru2000

I think we will get offers to buy us out early in another couple of years - thats my opinion. Whether we go along with that will depend upon price that is offered.

Hi Sotolo - no need to panic please.

What you have not brought into the equation is that by the time they have spent $10m and reached a point of a JV, we would have proved up say anything between 2m to 5m ounces. This would be reflected in the market price of the share - which I expect to way way higher.

One just needs to look at the Snowden Report on ANZA produced for then Waymar Resources back in May 2010. Its on the OMI site. Confirms both base metals and gold - a VMS type deposit. - Conclusions on page 11 of the report.

Newmont geologists would have had a thorough examination of this before they came on board.

If so much is found in a postage stamp size, so to speak, then we should be rejoicing. I think this is very promising indeed. We are sat right bang in the middle of that cacua belt. I also take comfort from the fact that the former CEO, Mr Salazar, is quite positive about our prospects.

Thanks Karl

Also, APTA is only one of five targets that we will be drilling - so a huge amount to come here. This will be taken away off our hands by Newmont I believe in time to come.

Joined a bit late - but sounds like Brad said this will take years to mine- To me it seems we are sitting on one of the biggest mines in the world. Did people get that impression too?

Kutzz

Noticed that. The whole theme seemed to be how IMG can increase their own output to please the market. Even for 2021

Great. My 255000 purchase is showing up as a sell.

Just topped up 255000 shares @3.63.

KEY POINTS ON THE RNS

(1) Compare our market cap of £13m against how much we have spent (CLUE: I suspect at least over 100 % of our market cap) on Bhukia over the years via our JV.

"This expenditure on account of reimbursement may increase in case any foreign investor invokes Bilateral Investment Promotion and Protection Agreements executed between India and other countries". THIS TO ME WILL BE MARKET VALUE BASED ON 7 million ounces WHICH IS WHY - point 2

(2) Consider why we appointed FASKENS. Remember this was being considered over some time period and not just in the last few days.

" Importantly, despite prescriptions made within this new MMDR 2021 bill about the manner of compensation available to parties, OUR COMPANIES PRESENT ADVICE IS THAT UNDER ABIT, ANY SUCH COMPENSATION AWARDED MAY BE COMPUTED ON THE BASIS OF THE MARKET VALUE OF OUR INVESTMENT"

(3) From the RNS - PAT is still taking with the Govt of Rajasthan

"The company nevertheless remains committed to an amicable resolution through.......negotiation".

No, its my pleasure.

One further point which I had forgotten is with so many targets in just 1/3 of the area where IP has been done, just magine what else is there in the remaining. Also, within this 1/3 area, they have so many targets. Hence, prioritised the much wider prospects.

Hi Intothedeep / Gist

Agree, huge potential and Mark means it when he says something. As you say, anything at the current price is a bargain. I am hoping the EUA comes to a close soon so that I can top up further here.

Also, the Cairn Energy ruling re-inforces Mark's view that we do indeed have a win win outcome on the Bhukia.

Gist - just realised, KALAKA is in the JV - so we are carried on it as far as the drill spend is concerned.